“The rise in the February unemployment rate indicates that Tennessee’s economy is slowing, consistent with national trends,” said Commissioner Neeley. “Year-to-year employment growth is weak with declines in manufacturing. Employment in the service sector continues to experience positive growth.”
January-to-February gains occurred in state government educational services employment increasing by 3,400; educational and health services employment increased 2,800; and jobs in transportation equipment increased 1,900. Month-to-month declines included retail trade employment, down 2,800. Financial activities employment lost 700 jobs, and hospital employment lost 400 jobs from January.
Over-the-year increases led with gains of 8,800 jobs in educational and health services. Leisure and hospitality employment increased by 4,900; and government jobs were up 3,800. Manufacturing jobs were down from a year ago with employment decreasing by 14,200; financial activities employment lost 1,400 jobs.