by Jon Styf
Tennessee’s unemployment rate finished the year at 3.5 percent, matching the U.S. unemployment rate and just 0.1 percent lower than the seasonally adjusted December 2021 mark.
The statewide unemployment rate was between 3.2 percent and 3.5 percent throughout 2022 as 104,800 new nonfarm jobs were added. December saw a 1,500 job increase from November.
The largest job increase came from the trade, transportation and utilities sector while government was second.
Tennessee was one of a few Southeast states that saw some of its wages drop during 2022, with average weekly earnings going from 974.25 in December 2021 to 918.29 in November and then $958.29 to close out 2022.
South Carolina manufacturing wages dropped 5.9percent from November 2021 to November 2022 while Tennessee dropped 3.2 percent. At the same time, Alabama manufacturing wages rose 7.7 percent, Virginia saw a 7.1 percent increase and Florida went up 6.3 percent.
Durable goods earnings went up in Tennessee from $1014 in December 2021 to $1024 to end 2022 while non-durable earnings went down from $906 per week to end 2021 to $841 at the end of 2022.
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Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Styf is a reporter for The Center Square.
Photo “Help Wanted Sign” by sarachicad. CC BY 2.0.