September 16, 2022
United States Employment Situation
Bureau of Labor Statistics (BLS) data for the 50 states and DC released at 10:00am on September 16, 2022In August, unemployment fell in 7 states, rose in 32, and remained unchanged in 12.
The highest unemployment rate was 5.1 percent in District of Columbia. The lowest unemployment rate was 1.9 percent in Minnesota. Nationally, the unemployment rate rose by 0.2 percentage point to 3.7 percent.
In August, payroll jobs rose in 37 states and fell in 14. The largest payroll job percent increase was 1.4 percent in Kentucky. The largest payroll job percent decline was 0.7 percent in Mississippi.
Tennessee Employment Situation
Tennessee added 3,100 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 3.4 percent in August.
Over the past twelve months, Tennessee added 114,500 payroll jobs and the unemployment rate fell by 0.6 percentage point from 4 percent.
In August, Tennessee’s private sector added 2,500 net private payroll jobs and over the past twelve months it added 110,700 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed rose by 655 on net in August, and over the past year employment rose by 83,918.
Tennessee’s labor force participation rate fell to 60.8 percent in August from 61.1 percent. Since last year, the labor force participation rate rose by 0.4 percentage point.
Tennessee Payroll Employment
Tennessee added 3,100 net payroll jobs, or 0.1 percent, on a seasonally adjusted basis during August. In the prior month, Tennessee lost 8,100 jobs. Over the past twelve months, Tennessee added 114,500 payroll jobs, or 3.7 percent. Tennessee nonfarm payroll employment had increased in 10 of the past 12 months.
Nationally, nonfarm payrolls rose by 315,000 in August, or rose by 0.2 percent. Over the 12-month period ending with August, nonfarm payrolls rose by 5,840,000 jobs, or 4 percent. Tennessee is tied for 14th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During August, Tennessee’s private-sector added 2,500 jobs, or approximately 0.1 percent. The private-sector in Tennessee added 13,600 jobs in the prior month. Over the past twelve months, private-sector payrolls in Tennessee added 110,700, or 4.1 percent. Tennessee private-sector payroll employment has increased in 11 of the past 12 months.
Nationally, private-sector payroll jobs rose by 308,000 jobs in August, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,702,000 jobs in the private sector, or 4.6 percent. Tennessee is tied for 17th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during August were Government (8,100) and Professional and Business Services (5,200). The poorest performing sectors during the month were Leisure and Hospitality (-3,200) and Trade, Transportation, and Utilities (-3,900).
The best performing sectors during the last twelve months were Leisure and Hospitality (133,400) and Professional and Business Services (122,600). The poorest performing sectors during the last twelve months were Information (23,300) and Government (10,600).
Tennessee Labor Force Statistics
Labor Force Participation
The labor force participation rate in Tennessee fell to 60.8 percent in August from 61.1 percent in the prior month. At a labor force participation rate of 60.8 percent, Tennessee ranks 36th in the nation. The labor force participation rate in Tennessee rose by 0.4 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Tennessee was 62.1 percent in May 2019. The series high for the labor force participation rate in Tennessee last occurred in February 1995 when the labor force participation rate hit 67.2 percent. The 10-year low for the labor force participation rate was 59 percent in April 2020. This also represents the series low for the labor force participation rate in Tennessee.
The national labor force participation rate rose by 0.3 percentage
points over the month to 62.4 percent in August. That rate rose by 0.7
percentage point from a year earlier. The all-time high for the national
labor force participation rate was 67.3 percent in April 2000. The
10-year high for the national labor force participation rate was 63.8
percent in October 2012. The recent 10-year low occurred in April 2020
at a level of 60.2 percent. The series low for the national labor force
participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Tennessee civilian noninstitutionalized population 16 years and older counted as employed, in August fell to 58.8 from 59 percent in the prior month. At 58.8 percent, Tennessee ranks 35th among state employment-to-population ratios in the nation. The employment-to-population ratio in Tennessee rose by 0.8 percentage point from a year earlier.
The 10-year high for the employment-to-population ratio in Tennessee was 60 percent last occurring in July 2019. The series high for the employment-to-population ratio in Tennessee last occurred in January 1995 when the employment-to-population ratio hit 64.1 percent. The 10-year low for the employment-to-population ratio was 49.6 percent in April 2020. This also represents the series low for the employment-to-population ratio in Tennessee.
The national employment-to-population ratio rose by 0.1 percentage point over the month to 60.1 percent in August. That rate rose by 1.6 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.
State employment and unemployment data for September is scheduled for release October 21, 2022. The national employment situation report for September will be released October 07, 2022.