Jobless Rate Slips by Half-Point in Tennessee

Tennessee’s unemployment rate fell by a half point in February, dropping to 4.9%. The State is now on par with the National Unemployment Rate and is adding jobs at a faster pace than the US average. The Tennessee Department of Labor and Workforce Development says the February rate is the lowest in 8 years. A year ago the state’s jobless rate stood at 5.5%. In the past year Tennessee has added some 90,000 jobs. Many Tennessee Counties suffered double digit unemployment rates at the height of the great recession of 2008. Some economists believe a jobless rate below 5% equates to almost “full employment”.

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