The state’s unemployment rate was 6.2 percent in September 2014. “Despite last month’s job losses, six of the state’s major employment sectors are up from a year ago”.
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The September Monthly Employment Report from the state Employment Security Department (ESD) revised August’s preliminary gain of 1,600 jobs to a gain of 5,200 jobs, but estimates Washington lost 2,200 nonfarm jobs-all in the private sector-from August 2015 to September 2015, on a seasonally adjusted basis.
The national unemployment rate stood at 5.1 percent in September.
The number of unemployed individuals in Tennessee is the lowest since February 2008. The largest increases occurred in state government, educational services and professional and business services.
State officials were quick to point out, however, that Massachusetts has still gained almost 47,000 jobs since the start of the year.
According to the Associated Press, applications for unemployment aid have reached levels not seen since the 1970s. That equates to about 35,400 people employed this year who were not this time last year. The labor force participation rate is at 69.7 percent.
The four-week average of applications, a less volatile measure, dropped to 265,000, the lowest since December 1973.
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The report found “significant downside risk” from the slowing Chinese economy, weakened exports caused by the strong dollar, as well as concerns about global politics and security. But faltering growth has not yet led businesses to cut jobs.
