Friday, May 22, 2009

Tennessee Unemployment Claims

Tennessee initial claims for unemployment insurance increased sharply for the week ending May 9, the largest gain since the first week of January, suggesting that troubles in the labor market are far from over. While relatively stable during the past several weeks, initial claims remain very elevated, particularly in comparison with previous recessions. The very high level of initial claims will continue to push Tennessee's unemployment rate higher; April's unemployment rate rose to 9.9 percent in the state, up from a revised 9.6 percent in March.