Davidson County sees November unemployment rate drop to 5.7%

Figure was 6.5% in October

Davidson County’s unemployment rate for November was 5.7 percent, down 0.8 percentage points from October, according to figures the Tennessee Department of Labor and Workforce Development released today.

The drop was mainly for the right reasons: Employers added just over 2,000 jobs last month. The unemployment rate was further pushed down by a drop in the size of the labor force of more than 500 people.

Tennessee’s unemployment rate for November decreased to 7.6 percent, down from the October revised rate of 8.2 percent. The national unemployment rate for November was 7.7 percent, 0.2 percentage point lower than the October rate.

Of the state’s four major metropolitan areas, Knox County had the lowest November jobless rate at 5.2 percent, down from 5.9 percent in October. Hamilton County was 6.4 percent, down from 7.3 percent, and Shelby County was 7.8 percent, down from 8.7 percent. Williamson County had the lowest jobless rate at 4.4 percent.

For the core eight counties within Nashville's Metropolitan Statistical Area, unemployment fell to 5.5 percent from 6.3 percent. Across those eight counties, employers added almost 5,000 jobs for November. Meanwhile, the labor force shrank by almost 1,900 people.

In November 2011, Davidson County had an unemployment rate of 7.3 percent, while the MSA mark was at 7.1.

Statewide, county non-seasonally adjusted unemployment rates for November fell in 91 counties, increased in one, and remained the same in three. The state unemployment rate is seasonally adjusted while the county unemployment rates are not. Seasonal adjustment is a statistical technique that eliminates from economic time series the influences of weather, holidays and the opening and closing of schools.

Specific county information is available here.