Jobless rate in Three Rivers region steady at 4.8 percent in May
- Author: Zachary Reyes Jun 24, 2017,
Jun 24, 2017, 11:38
Overall, the unemployment rate fell in May to 4.3%, a 16-year low.
The announcement follows by a week the decision by the Federal Reserve to raise interest rates by a quarter percent.
Specific county information for the month of May is available online. The number of employed grew by 1,793, and there were 106 fewer unemployed.
The DOL said the number of Americans filing was 241,000 for the week, up from 238,000 the week before.
To the east in Franklin County, the unemployment rate went up about 10 percent, with 1,100 people working last month and 1,000 people in May 2016.
State labor officials say metro Atlanta's unemployment rate in May held steady at 4.5 percent - the same rate as the previous month.
Across the nation, the seasonally-adjusted unemployment rate in the United States reported a reading of 4.3 percent in May, down one-tenth of a percentage point from April 2017's jobless rate of 4.4 percent.
To the west in Jefferson County, the rate also went up less than 10 percent.
"This shows that job growth in Tennessee isn't exclusive to our major metropolitan areas; people are returning to the workforce in every corner of our state", Commissioner Phillips said. "We continue to focus our resources on those Tennesseans who are still out of work, but the numbers show we are making progress".
Metro Gainesville had the lowest area jobless rate for May at 3.9 percent, while the River Valley region had the highest at 6 percent.
The national unemployment rate for May was 4.3 percent, a 0.1 percent decrease from April. Seasonal adjustment is a statistical technique that eliminates the influences of weather, holidays, opening and closing of schools, and other recurring seasonal events from economic time series. Many economists think the labor market is at or near full employment.