Unemployment Rate Drops In January…Lowest Rate In Over 2 Years

Tennessee’s jobless rate continues to drop. Numbers were released yesterday by the Tennessee Department of Labor and Workforce Development. The unemployment rate dropped again for the month of January…down one tenth of apercentage point from 3.6 in December to an unemployment rate of 3.5% in January for the state of Tennessee. That is the lowest unemployment rate in the state since November of 2019…4 months before the beginning of the Covid 19 pandemic shutdowns. For the past year, Tennessee’s unemployment rate has dropped 1.7% and the state has added more than 110,000 jobs. Individual county unemployment data for January will be released next week.

The national unemployment rate rose by a 10th of a percent from 3.9 to 4% in the month of Janaury.