Posted 12/1/22

Amid high inflation, rising interest rates, and low consumer confidence, there is good reason to be pessimistic about the state of the U.S. economy for the rest of 2022 and 2023.

But despite these challenging conditions, one component of the economy that has continued to deliver good news is the labor market.

The unemployment rate in the U.S. sat at 3.5% in September, one of the lowest figures in more than half a century. Despite low unemployment, the economy has added jobs every month dating back to January 2021.

As a result of these trends, workers have been far less likely to face layoffs and discharges than at any other time in the last two decades.

But the State of Tennessee is different. Tennessee residents are the 9th most likely to lose their jobs. Here’s the numbers…

The State of Tennessee average monthly discharge rate is 1.15%, average monthly discharges stand at 37,000 residents, the average monthly total separations is 152,750 residents.

The data used in this analysis is from the U.S. Bureau of Labor Statistics.