In March, Tennessee employers had the most people on their payrolls since the start of the COVID-19 pandemic one year ago. Despite the increase in job creation during the month, the state did experience a slight increase in overall unemployment.
According to newly released data from the Tennessee Department of Labor and Workforce Development (TDLWD), unemployment increased 0.1 of a percentage point to 5% in March.
The new jobless rate continues to sit near pre-pandemic levels. Over the past year, Tennessee’s seasonally adjusted unemployment rate increased from 4% in March 2020, to 5% this year.
In a year-to-year comparison, there were 84,300 fewer jobs across the state in March 2021. The leisure/hospitality sector experienced the biggest loss of jobs over the year. The education/health services and government sectors also had significant job losses during the last 12 months.
Nationally, unemployment dropped slightly in March. The new seasonally adjusted rate is 6%, down 0.2 of a percentage point from the previous month.