Tennessee’s Unemployment Rate Sets New Record Low in July

Tennessee made history in July when the state recorded its lowest unemployment rate since the federal government began tracking the statistic in 1976. According to the Department of Labor and Workforce Development (TDLWD), the seasonally adjusted rate of 3.1% was 0.1 of a percentage point lower than the previous all-time low of 3.2%, a figure the state once again reached in June.

The latest Tennessee jobless number was 0.2 of a percentage point lower than the rate in July 2022. Unemployment numbers for the state have been at or below 3.5% since January 2022.

Nationally, the seasonally adjusted unemployment rate inched down to 3.5%, 0.1 of a percentage point from June’s rate of 3.6%.