Chattanooga's Unemployment Rate Plummets, Approaching Historic Low
The unemployment rate in Chattanooga experienced a significant dip last month, dropping to one of the lowest rates recorded in history. This considerable decline is largely attributed to local businesses adding 8,722 jobs in the region over the past year. Figures released by the Tennessee Department of Labor and Workforce Development highlight the unemployment rate for February in the six-county Chattanooga area was a mere 2.7%, slightly above the all-time record low of 2.6% last April. This rate is also significantly under the U.S. average of 4.2% for the same period. Don Bruce, director at the Boyd Center for Business and Economic Research at the University of Tennessee, pointed out that this development is yet another indicator of the enduring strength of the labor market, primarily in the Chattanooga metropolitan area.
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