Tag Archives: rate

TN Unemployment Rate Up to 8.5 Percent in June

News release from state Department of Labor and Workforce Development:
NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today Tennessee’s preliminary unemployment rate for June is 8.5 percent, which increased two tenths of one percentage point from the May revised rate of 8.3 percent. The national unemployment rate for June 2013 was 7.6 percent, unchanged from the previous month.
Economic Summary:
Tennessee’s June unemployment rate increased to 8.5 percent.
Over the past year, Tennessee’s unemployment rate increased from 8.2 percent to 8.5 percent.
Total nonfarm employment decreased 16,500 jobs from May to June.
The largest decreases occurred in government, manufacturing, and health care/social assistance.
Over the year, nonfarm employment increased 32,000 jobs. The largest increases were in professional/business services, leisure/hospitality, and retail trade.

TN Unemployment Rose to 8.3 Percent in May

News release from Department of Labor and Workforce Development:
NASHVILLE – Tennessee Labor & Workforce Development Commissioner Burns Phillips announced today 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 2013 was 7.6 percent, increasing by one tenth of one percentage point from the previous month.
Economic Summary:
Tennessee’s labor force hit a record high in May, mostly from new entrants, reentrants, and dislocated workers returning to the labor force as unemployed persons.
Total nonfarm employment increased 5,700 from April to May. The largest increases occurred in accommodation/food services, administrative/support/waste services, and retail trade.
Over the year, nonfarm employment increased 52,500. The largest increases were in professional/business services, accommodation/food services, and health care/social assistance.

TN Unemployment Rate in February: 7.8 Percent

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment rate for February was 7.8 percent, a slight increase from the previous month.
Department of Labor and Workforce Development Commissioner Karla Davis said Thursday that’s the lowest February rate since 2008.
The unemployment rate for January was 7.7 percent. The national unemployment rate for February was 7.7 percent.
State figures show that nonfarm employment increased by 11,400 jobs from January to Februar

TN Unemployment Rate 7.7 Percent in January

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment rate for January was 7.7 percent, a slight increase from the previous month.
Department of Labor and Workforce Development Commissioner Karla Davis said Thursday that there are more than 2.8 million people employed in Tennessee.
That’s the highest employment total for the state since December 2007.
The unemployment rate for last December was 7.6 percent. The national unemployment rate for January was 7.9 percent.
State figures show that nonfarm employment increased by 7,600 jobs between December and January.

TN Unemployment Rate Unchanged at 7.6% in December

News release from Department of Labor and Workforce Development:
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for December was 7.6 percent and remained constant from the November revised rate of 7.6 percent.
The national unemployment rate for December 2012 was 7.8 percent, also unchanged from the previous month.
Economic Summary:
Tennessee’s December unemployment rate remained constant at 7.6 percent and is the lowest Tennessee unemployment rate since October 2008.
The number of unemployed persons (235,700) is the lowest since October 2008.
The number of employed persons (2,879,600) is the highest since March 2008.
Over the past year, Tennessee’s unemployment rate declined from 8.5 percent to 7.6 percent (-0.9 percentage point) while the national rate declined from 8.5 percent to 7.8 percent (-0.7 percentage point).
Total nonfarm employment increased 6,000 jobs from November to December, with increases in leisure/hospitality, manufacturing, and mining/logging/construction. There were decreases in administrative/support/waste services, retail trade, and state government.
Over the year, total nonfarm employment increased 36,400 jobs, with increases in manufacturing, health care/social assistance, and accommodation/food services. There were decreases in wholesale trade, financial activities, and arts/entertainment/recreation.

Doctors Getting Average 25 Percent Fee Increase from TennCare

Doctors who treat TennCare patients are getting a big New Year’s pay raise, reports the Chattanooga TFP. Practitioners in family medicine and some other subspecialties, including pediatrics, will be reimbursed at Medicare rates — on average, more than 25 percent above what they’re paid now, state figures show.
TennCare officials calculate that the boost will put $55 million in physicians’ pockets this year and next and help to keep them in the state’s version of Medicaid, the health care program for 1.2 million disabled people, pregnant women and poor children.
That’s going to be important because of what health experts are calling the “woodwork effect:” When the requirement that everyone have health insurance kicks in next year, as many as 300,000 eligible but unenrolled people are expected to come out of the woodwork and sign up for TennCare.
TennCare is “going to have a capacity problem, and they’re going to need more health care providers in the government system,” said state Sen. Bo Watson, vice chairman of the Senate Health and Welfare Committee and speaker pro tempore.
TennCare figures show current reimbursement rates, on average, are about 79 percent of Medicare rates. That’s compared to 66 percent for Medicaid programs nationwide. The federal government is putting $11 billion into the reimbursement boost across the country.
TennCare spokeswoman Kelly Gunderson said it’s hard to say exactly how reimbursements will change since they are negotiated in the managed-care system.
But, she said, “I’m sure if you talk to primary care physicians, they’ll say they’re very much anticipating that rate increase.”

TN Unemployment Drops to 7.6 Percent in November — Lowest Since 2008

News release from Department of Labor and Workforce Development:
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for November decreased to 7.6 percent, down from the October revised rate of 8.2 percent. The national unemployment rate for November 2012 was 7.7 percent, 0.2 percentage point lower than the October rate.
Economic Summary:
Tennessee’s November unemployment rate is the lowest rate since October 2008.
Over the past year, Tennessee’s unemployment rate has declined from 8.7% to 7.6% (-1.1 percentage point) while the national rate declined from 8.7% to 7.7% (-1.0 percentage point).
The number of unemployed persons is the lowest since October 2008.
Total nonfarm employment increased 3,600 jobs from October to November, with increases in trade/transportation/utilities and manufacturing.
Total nonfarm employment increased 25,800 jobs from November 2011 to November 2012, with increases in manufacturing and education/health services. Declines occurred in financial activities and wholesale trade.

State Sells Bonds at 2.05% — Lowest Rate Ever

News release from state comptroller’s office:
The State of Tennessee sold more than $170 million worth of general obligation bonds this week at the lowest overall interest rates in more than 40 years. The debt offering was sold in two parts, consisting of $140,000,000 in tax-exempt bonds and $30,525,000 of federally taxable bonds. The combined true interest cost of the bonds was 2.05 percent.
The tax-exempt bond proceeds will be used to fund new capital projects while the proceeds from the taxable issue will be used to refinance currently outstanding bonds.
The refinanced bonds will result in present value savings to the state of $2,607,000 over an eight-year period.
“We chose to refinance some of our bonds at this time because interest rates were so low,” said Comptroller Justin P. Wilson, who serves as secretary of the State Funding Board. “The low interest rates we were able to get demonstrate, once again, that the state is in excellent financial health.”
“Over the last 15 months, we have saved the state more than $63.6 million through refinancing, said State Treasurer David H. Lillard Jr., who is also a State Funding Board member. “We believe that’s part of our mission to be good stewards of public money.”
“Tennessee has continued to maintain strong credit ratings, which makes low interest rates possible,” said Secretary of State Tre Hargett. “We are able to maintain those credit ratings because of the excellent work done by the General Assembly, the governor and his administrative staff in managing our state’s finances.”

TN Unemployment Rate in October 8.2 Percent

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment rate decreased slightly in October.
Labor and Workforce Development Commissioner Karla Davis said in a news release Thursday that October’s rate was 8.2 percent, down from 8.3 percent in September.
She said the October rate is the lowest since June.
The national unemployment rate for October was 7.9 percent, 0.1 percentage point higher than the previous month.
In Tennessee, total nonfarm employment rose by 7,500 jobs from September to October, with increases in leisure/hospitality and professional/business services. There were declines in government and mining/logging/construction.

TN Unemployment Rate in September: Down a Bit, Still Above National Average

News release from Department of Labor and Workforce Development:
NASHVILLE – Tennessee Commissioner of Labor & Workforce Development Karla Davis announced today Tennessee’s unemployment rate for September decreased to 8.3 percent, down from the August revised rate of 8.5 percent. The national unemployment rate for September 2012 was 7.8 percent, 0.3 percentage point lower than the August rate.
Economic Summary:
Tennessee’s September unemployment rate is the lowest rate since June.
Over the past year, Tennessee’s unemployment rate declined from 9.1% to 8.3% (-0.8 percentage point), while the national rate declined from 9.0% to 7.8% (-1.2 percentage points).
Total nonfarm employment increased 3,300 jobs from August to September, with increases in government and education/health services. There were declines in trade/transportation/utilities and accommodation/food services.
Over the year, nonfarm jobs increased 20,400, with increases in manufacturing and education/health services. There were declines in trade/transportation/utilities and financial activities.