Job growth slows dramatically in TN from just 3 years prior

New Tennessee employment data shows job growth has slowed to less than half of what the state experienced during its recent hiring boom just a few years ago. Economists say that’s making the job market more competitive for recent graduates and people looking at changing careers, even as unemployment in the state remains well below the national average. According to the Tennessee Department of Labor and Workforce Development, the state added more than 70,000 new jobs in 2023, compared to the 26,000 Tennessee added from last June to this June. Labor officials say that the slowdown reflects a labor market returning to a more normal pace after several years of unusually strong hiring.