Knoxville, TN Jobs Report

January 2020 Jobs Report

Jobs Added

Metro -2,600
  • Month Over Month: -0.6%
  • 3 Month Average: 400
  • Year Over Year: +1.7%
State +2,000
  • Month Over Month: +0.1%
  • 3 Month Average: 3,833
  • Year Over Year: +1.6%
National +225,000
  • Month Over Month: +0.1%
  • 3 Month Average: 211,000
  • Year Over Year: +1.4%

Unemployment Rate

Metro 2.9%
  • Month Over Month: 0.0%
  • 3 Month Average: 2.9%
  • Year Over Year: +0.1%
State 3.3%
  • Month Over Month: 0.0%
  • 3 Month Average: 3.33%
  • Year Over Year: 0.0%
National 3.6%
  • Month Over Month: +0.1%
  • 3 Month Average: 3.53%
  • Year Over Year: -0.4%

The U.S. economy added a better than expected 225,000 jobs in January, while the unemployment rate rose slightly to 3.6%. January’s release also noted that there were significant job gains occurred in construction, in health care, and in transportation and warehousing.

Mark Hamrick, senior economic analyst for Bankrate, said in this Yahoo Finance article,” the first month of the year saw hiring surge above expectations despite the challenges of what broadly viewed as a tight job market.

The labor force participation rate rose to 63.4%, or the highest level since 2013, from 63.2% in December. A higher labor force participation rate indicates a greater proportion of the working-age population is working or actively seeking employment.

Wage growth, which had slowed in December, picked back up in January, rising by 0.2% over December. Year on year, average hourly earnings rose 3.1%, beating expectations and accelerating relative to December’s pace of wage growth.

Sector Job Growth from the B.L.S.

Professional & Business Services -300
  • Month Over Month: -0.5%
  • 3 Month Average: 65
  • Year Over Year: +0.2%
Education & Health Services +400
  • Month Over Month: +0.7%
  • 3 Month Average: 56
  • Year Over Year: +2.7%
Trade, Transportation, & Utilities -400
  • Month Over Month: -0.5%
  • 3 Month Average: 82
  • Year Over Year: +1.6%

Industry Job Growth from the B.L.S.

Administrative & Support & Waste Management & Remediation Services -600
  • Month Over Month: -0.3%
  • 3 Month Average: 227
  • Year Over Year: 0.0%
Transportation & Warehousing +1,300
  • Month Over Month: +0.7%
  • 3 Month Average: 177
  • Year Over Year: +3.1%
Health Care & Social Assistance +500
  • Month Over Month: +0.1%
  • 3 Month Average: 381
  • Year Over Year: +1.4%
Temporary help services -1,500
  • Month Over Month: -0.1%
  • 3 Month Average: 2,949
  • Year Over Year: -0.5%
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Metropolitan Month-Over Month Job Growth by Sector

*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.

The BLS defines a sector as a subset of the domestic economy and excludes the economic activities of the following: general government, private households, and nonprofit organizations serving individuals. A sector consists of multiple industries.

The BLS defines an industry as a group of establishments that produce similar products or provide similar services. Multiple industries makeup sectors.

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