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Tennessee Market Highlights for March 11, 2022

Tennessee Market Highlights for March 11, 2022

Love’s Travel Stops opens new locations in Newport Tennessee and New York

Love’s Travel Stops opens new locations in Newport Tennessee and New York

Love’s Travel Stops is now serving customers in Newport, Tennessee, and Ripley, New York, thanks to two travel stops that opened Thursday. The Newport store, located off Interstate 40 (1129 Smokey Mountain Lane), adds 60 jobs and 70 truck parking spaces to Cocke County. The Ripley store, located off Interstate 90 (6201 Shortman Road), adds […]

Payroll employment rises by 678,000 in February; unemployment rate edges down to 3.8%

Payroll employment rises by 678,000 in February; unemployment rate edges down to 3.8%

Total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, health care, and construction. This news release presents statistics from two monthly surveys. The […]

Payroll employment rises by 467,000 in January; unemployment rate changes little at 4.0%

Payroll employment rises by 467,000 in January; unemployment rate changes little at 4.0%

Total nonfarm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. This news release presents statistics from two monthly […]

Unemployment Reaches Its Lowest Level Since January 2020

Unemployment Reaches Its Lowest Level Since January 2020

Unemployment in the state of Tennessee reached a two-year low in December, according to new data released by the Department of Labor and Workforce Development. The state ended 2021 with an unemployment rate of 3.8%, which was 0.2 of a percentage point lower than the rate it recorded in November. Over the past year, Tennessee’s […]

Payroll Employment Rises by 199,000 in December; Unemployment Rate Declines to 3.9%

Payroll Employment Rises by 199,000 in December; Unemployment Rate Declines to 3.9%

THE EMPLOYMENT SITUATION — DECEMBER 2021 Total nonfarm payroll employment rose by 199,000 in December, and the unemployment rate declined to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, in professional and business services, in manufacturing, in construction, and in transportation and warehousing. This […]

CPI for all items rises 0.8% in November; gas, food, shelter, vehicle indexes all rise

CPI for all items rises 0.8% in November; gas, food, shelter, vehicle indexes all rise

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.8 percent before seasonal adjustment. The monthly all items seasonally adjusted increase […]

Payroll employment rises by 210,000 in November; unemployment rate declines to 4.2%

Payroll employment rises by 210,000 in November; unemployment rate declines to 4.2%

THE EMPLOYMENT SITUATION — NOVEMBER 2021 Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined […]

CPI for all items rises 0.3% in August; gasoline, food, shelter among indexes rising

CPI for all items rises 0.3% in August; gasoline, food, shelter among indexes rising

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in August on a seasonally adjusted basis after rising 0.5 percent in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.3 percent before seasonal adjustment. The indexes for gasoline, household furnishings and […]

Tennessee Unemployment Drops for Second Consecutive Month

Tennessee Unemployment Drops for Second Consecutive Month

Tennessee’s statewide unemployment rate decreased for the second consecutive month in July, according to newly released data from the Department of Labor and Workforce Development. The preliminary, seasonally adjusted rate for July 2021 is 4.7%, a drop of 0.2 of a percentage point from June’s revised rate of 4.9%. Tennessee’s unemployment rate has been at […]

Unemployment Steady as the Economy Continues Rebounding

Unemployment Steady as the Economy Continues Rebounding

Tennessee’s statewide unemployment rate held steady at 5% between April and May 2021, according to newly released data from the Department of Labor and Workforce Development (TDLWD). While Tennessee’s unemployment rate did not change in the month-to-month comparison, it was 4.6 percentage points lower than the May 2020 rate. At that time, many of the […]

Consumer Price Index Increases 0.4 percent in February

Consumer Price Index Increases 0.4 percent in February

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis after rising 0.3 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment. The gasoline index continued to increase, rising […]

The Employment Situation in January

The Employment Situation in January

This morning’s jobs report reveals that the pace of job gains has slowed sharply in recent months as the pandemic continues to weigh on job creation, especially in face-to-face services. Strong relief is urgently and quickly needed to control the virus, get vaccine shots in arms, and finally launch a robust, equitable and racially inclusive […]

Unemployment rate falls to 6.3% in January; payroll employment changes little (+49,000)

Unemployment rate falls to 6.3% in January; payroll employment changes little (+49,000)

The unemployment rate fell by 0.4 percentage point to 6.3 percent in January, while nonfarm payroll employment changed little (+49,000), the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic and efforts to contain it. In January, notable job gains in professional and business […]

Governor Lee, Commissioner Rolfe Announce Amazon to Create 800 New Jobs in Alcoa

Governor Lee, Commissioner Rolfe Announce Amazon to Create 800 New Jobs in Alcoa

Third Amazon fulfillment center announced in Tennessee in just over 12 months 634,000-square-foot fulfillment center will utilize Amazon Robotics Technology   NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Amazon officials announced today that Amazon will establish a new, state-of-the-art fulfillment center in Alcoa. The site, […]

Governor Lee, Commissioner Rolfe Announce Sese Industrial Services, U.S. Corp. to Locate New Facility in Chattanooga

Governor Lee, Commissioner Rolfe Announce Sese Industrial Services, U.S. Corp. to Locate New Facility in Chattanooga

Company will assemble Axle Components for Volkswagen Project includes investment of more than $42 million to build new facility   NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Sese Industrial Services, U.S. Corp. officials announced today that the Axle Manufacturing company will locate new operations in […]

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