Unemployment down 4/10ths of a percent

Thursday, January 19, 2012

NASHVILLE -- The state Department of Labor & Workforce Development announced Thursday that Tennessee's unemployment rate for December was 8.7 percent, down from the November revised rate of 9.1.

In Marshall County, the unemployment rate was 12.8 percent during November, down from 13.1 percent in October, according to the most recent figures from the state Department of Labor and Workforce Development.

County unemployment rates are updated a week after state figures are released.

The national unemployment rate for December 2011 was 8.5 percent, a decrease of 0.2 percentage point from the November rate.

"This is the lowest unemployment rate Tennessee has experienced since December 2008 when the rate was 8.4 percent," state Labor Commissioner Karla Davis said. "The drop in Tennessee's rate is largely due to a notable increase of 11,200 employed persons from November to December."

UT Economist Bill Fox states the Tennessee rate parallels the national picture. "The drop in Tennessee's unemployment rate mirrors what is happening nationally, but Tennessee has had much stronger employment growth."