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Jobless rate here second lowest in state

Posted on Thursday, July 4, 2013 at 3:28 pm

unemploymentLincoln County’s jobless rate was second lowest in the state during the month of May at 5.9 percent, up from 5.6 percent the previous month.

Only Williamson County registered a lower jobless rate for May, 5.7 percent.

The unemployment rate in neighboring Bedford County increased from 8.1 percent in April to 8.6 percent in May. Coffee County’s rate rose from 7.5 percent to 7.8 percent. Franklin County registered an increase from 7.0 percent in May to 7.7 percent the following month.

Giles County’s jobless rate increased from 9.7 percent in April to 10.1 percent in May. Marshall County’s rate went up one-tenth of a percentage point, from 10.3 percent to 10.4 percent. In Moore County, the unemployment rate was up from 6.8 percent to 7.6 percent.

Tennessee’s unemployment rate for May was 8.3 percent, which increased three-tenths of one percentage point from the April revised rate of 8.0 percent. The national unemployment rate for May was 7.6 percent, increasing by one tenth of one percentage point from the April revised rate of 8.0 percent.

During May, there were no Tennessee counties with an unemployment rate range of less than 5.0 percent. A total of 54 counties had a county unemployment rate of 5.0 percent or greater, but less than 10.0 percent. There were 41 counties with a rate of 10.0 percent or greater, but no counties with a rate of 20.0 percent or greater.

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.

County unemployment rates for May show the rate increased in 82 counties, decreased in eight counties and remained the same in five counties.

Davidson County had the state’s lowest major metropolitan rate of 6.7 percent, up from 6.5 percent in April. In May, Knox County’s rate increased to 6.8 from 6.4 percent. Hamilton County was at 8.2 percent, up from 7.6 percent in the previous month. Shelby County was 9.7 percent, up from 9.2 percent in April.