Tennessee's unemployment rate jumped another 0.8 percent in May to 10.7 percent, its highest point since late 1983.
"We are continuing to outpace the national unemployment rate,” said Labor Commissioner James Neeley. “Our goods-producing sector, which includes manufacturing and construction, only makes up about 16 percent of Tennessee’s economy. Those industries, however, have seen more than half of the total job losses in the past year.”
The jobless rate in Tennessee was 6.2 percent in May 2008 and hit 9 percent as recently as February. During May, the seasonal leisure/hospitality sector and administrative, support and service companies added about 10,000 jobs combined, but that wasn't anywhere near enough to stop the state's jobless rate from rising well above the national number.
To read the state's release, click here.