Elk Valley Times

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County jobless rate still state’s lowest

Posted on Monday, December 3, 2012 at 2:13 pm

Lincoln County had the state’s lowest unemployment rate for the month of October at 5.1 percent, down one-tenth of a percentage point from the previous month.

In adjacent counties Bedford County’s unemployment rate was unchanged from September at 8.7 percent.

Coffee County’s rate increased by one-tenth of a  percent, from 7.3 percent in September to 7.4 percent in October. Franklin County remained the same both months, at 7.2 percent.

Giles County’s rate increased from 8.8 percent in September to 9.0 percent in October. Marshall County’s unemployment rate also increased from 10.7 percent in September to 10.9 percent in October.

Moore County’s rate increased by three-tenths of a percentage point, from 7.3 percent in September to 7.6 percent in October.

County non-seasonally adjustment unemployment rates for October show the rate decreased in 14 counties, increased in 64 and remained the same in 17.

Tennessee’s unemployment rate for October decreased to 8.2 percent, down from the September revised rate of 8.3 percent. The national unemployment rate for October was 7.9 percent, one-tenth of a percentage point higher than the September rate of 7.8 percent.

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.

Knox County had the state’s lowest major metropolitan rate of 5.9 percent, unchanged from September. Davidson County was 6.5 percent, down from 6.6 percent. Hamilton County was 7.3 percent, up from 7.1 percent, and Shelby County was 8.7 percent, up from 8.5 percent in September.