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Moore unemployment rate drops

Posted on Tuesday, May 8, 2012 at 6:33 pm

Moore County’s unemployment dropped nearly a full percentage point last month. The latest rate – released by the Department of Labor and Workforce last week – show a 7.3 percent jobless rate in Lynchburg (down from 8 percent the previous month).

County non-seasonally adjusted unemployment rates for March 2012 show the rate decreased in 89 counties, increased in five counties, and remained the same in one county.

Regionally, Lincoln County continues to enjoy the third lowest unemployment rate in the state at 5.8 percent. That’s down from 6.5 percent the previous month.

Coffee County fell slightly to 7.6 percent from 8 percent the previous month. Franklin County also fell slightly to 8.4 percent – down 0.4 percent from the previous month. Bedford County also fell to 9.1 percent from 9.6 percent.

Tennessee’s unemployment rate for March fell to 7.9 percent, down from the February revised rate of 8.0 percent. The national unemployment rate for March 2012 was 8.2 percent, 0.1 percentage point lower than the February rate.

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.

Knox County had the state’s lowest major metropolitan rate of 5.7 percent, down from 6.1 percent in February.  Davidson County was 6.6 percent, down from 7.0 percent in the previous month. Hamilton County was 7.4 percent, down from 7.6 percent, and Shelby County was 9.1 percent, down from the February unemployment rate of 9.2 percent.