Tennessee has been experiencing its fair share of good news this year. This past May marked the fourth straight month that unemployment rates have steadily dropped throughout the state, making it ideal to move to Memphis or nearly anywhere in the state. By the way that things are looking, June should yield the same results and continue the current trend, making it an interesting and perhaps busy moving season for Tennessee moving companies.
Following the trend of the rest of the nation, 94 counties in the state have consistently decreased, with only one increasing. Certainly not an easy feat for an entire state, Davidson County came in with the lowest unemployment rate at 4%.
According to the Labor and Workforce Development Commissioner Burns Phillips, the unemployment rate throughout the state of Tennessee has consistently dropped as a whole – from 6.5% to 5.8%, while the national rate declined from 6.3% to 5.5%. This past May also saw the lowest amount of people from Tennessee who were unemployed, since March 2008; at a total number of 181,100.
Aside from having the lowest unemployment rate it has had in seven years, Tennessee increased its amount of administrative/support/waste services, mining/logging/construction, accommodation/food services and finance/insurance jobs by 6,400 in just one month, creating an influx of people moving to Tennessee to secure a job. In fact, the total amount of jobs increased by 53,800 in fields such as: leisure/hospitality, professional/business services, and trade/transportation/utilities.