State joblessness declines for 8th consecutive month
NASHVILLE -- Tennessee's workforce shrunk in March compared to February, but more workers found jobs, so the unemployment still went down, state officials reported Thursday.
Tennessee's unemployment rate for March fell to 7.9 percent, down from the February revised rate of 8 percent, state Labor & Workforce Development Commissioner Karla Davis said. The national unemployment rate for March 2012 was 8.2 percent, 0.1% percentage point lower than the February rate.
"Tennessee's unemployment is the lowest since November 2008," Commissioner Davis said. "The decline is attributed to losses in both employment and unemployment, but the number of unemployed declined at a faster rate, resulting in the net decrease in the state rate."
Tennessee's state unemployment rate is derived from the following three sources of information: the Business Survey, the Household Survey, and unemployment claim information. Tennessee's Household Survey is conducted by the Census Bureau and also contributes toward the national unemployment rate.