Posted 6/24/24

Tennessee marked a milestone in May when the statewide unemployment rate dropped to a historic low level and set a record.

The rate decreased by 0.1 of a percentage point between April and May to 3% and made history by besting any jobless number since the Federal Government began tracking the statistic in 1976.

The record-setting low unemployment was coupled with continued job growth across the state. Tennessee employers created 3,300 new nonfarm jobs between April and May.

Nationally, the unemployment rate did not fare as well as it did in Tennessee. Across the United States, the seasonally adjusted jobless number inched up by 0.1 of a percentage to 4% in May.