County's Unemployment Rate Dips Slightly

NASHVILLE – Cannon County's unemployment rate for February 2012 was 7.8 percent.

That number represents a slight decline from the January rate of 7.9 percent. The rate for February 2011 was 9.9 percent.

County non-seasonally adjusted unemployment rates for February 2012, released today, show the rate decreased in 75 counties, increased in 10 counties, and remained the same in 10 counties.

Tennessee’s unemployment rate for February fell to 8.0 percent, down from the January revised rate of 8.2 percent. The national unemployment rate for February 2012 was 8.3 percent, unchanged from the January 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 6.1 percent, down from 6.2 percent in January.  Davidson County was 7.0 percent, down from 7.1 percent in the previous month. Hamilton County was 7.7 percent, down from 7.9 percent, and Shelby County was 9.2 percent, down from the January unemployment rate of 9.4 percent.