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Tennessee’s Unemployment Rate Hits 10.8%
August 5, 2009 by admin · View Comments
From the Nashville Business Journal this past Thursday: “Tennessee’s unemployment rate for June rose to 10.8 percent, up 0.1 percentage point from the May rate, the state Department of Labor & Workforce Development announced Thursday.
The rate hasn’t been that high since November 1983. The rate is up from 6.4 percent from just a year ago.
Nationally, the unemployment rate averaged 9.5 percent in June, up one point from the May level of 9.4 percent.”
Certainly Tennessee’s unemployment rate is affecting Nashville real estate sales prices and rates. The effect is not specifically measurable; however, we estimate that sales rates are affected by up to 7 percent for every full percentage point in unemployment.
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For more than 8 years, Grant Hammond has been a leader in the greater Nashville real estate marketplace. In the first half of 2010, he is again the top producing Realty Executives broker in Middle TN.
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Check out what others are saying about this post...[...] to buck this jobless trend with unemployment hovering around 4.4%. However, I do effect to see Tennessee’s unemployment rate touch 10% before it’s all said and done in 2009. Share and [...]
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