As recovery from the national recession continues, economists look at the unemployment rate as one of the key indicators that measures the health of the economy.
At the local level, recently released data
on the unemployment picture in the Nashville region showcases continued strong improvement in our local economy. The March unemployment rate for the Nashville MSA was at 6.7 percent, down from 7.1 in February and 8.1 percent in March 2012. Davidson County tied for the second-lowest rate in the Nashville MSA, at 6.6 percent.
The current number of unemployed people in the Nashville area, 55,400, represents the lowest level since December 2008. This pattern of resurgent economic growth aligns with the stronger performance that the southern U.S. continues to experience relative to the nation as a whole. Over the past year, the South has registered
the largest of three measurable changes to the unemployment rate.
As I reported in a previous blog post,
the most recent 12 months reveal an employment gain of nearly 27,000 for the Nashville MSA, the best performance since early 2007. Through our Partnership 2020 economic development initiative, the Chamber also continues to work to create new jobs and spur growth and prosperity throughout Middle Tennessee.