Local jobless rate remains second lowest statewide
Lincoln County’s unemployment rate for March is the second lowest in the state.
According to figures released by the Department of Labor and Workforce Development, the local jobless rate was 4.9 percent in March, four-tenths below the February rate of 5.3 percent.
The rate is the second lowest in the state behind Williamson County at 4.6 percent.
Among neighboring counties, Marshall County’s rate dropped slightly from 8.4 to 8.1 percent. Moore County’s unemployment rate went up by two-tenths of a percentage point, from 5.5 percent in February to 5.7 the following month.
Giles County’s unemployment rate dropped to 7.4 percent, down from 7.6 in February. Franklin County’s unemployment rate for March was 6.4 percent, down from 8.7 in February. Coffee County remained the same both months at 6.1 percent. Bedford County’s rate dropped slightly, from 6.8 percent to 6.5 percent.
County unemployment rates for March show the rate decreased in 86 counties, increased in four and remained the same in five.
Davidson County had the state’s lowest major metropolitan rate of 5.5 percent in March, down from 5.6 percent in February. Knox County’s March rate was 5.6 percent, down from 5.7. Hamilton County was 6.8 percent, down from 6.9. Shelby County was 8.4, the same as for February.
Tennessee’s unemployment rate for March was 6.7 percent, which is two-tenths of one percentage point lower than the February revised rate. The national unemployment rate for March was also 6.7 percent, the same as for February.
The state unemployment rate is seasonally adjusted, while the county unemployment rates are not. Seasonal adjustment is a statistical technique that eliminates the influences of weather, holidays, the opening and closing of schools and other recurring seasonal events from economic time series.