Department of Numbers

Memphis, Tennessee Unemployment

The BLS reported that the unemployment rate for Memphis fell 0.2 percentage points in January 2023 to 4.2%. For the same month, the metro unemployment rate was 0.7 percentage points higher than the Tennessee rate. The unemployment rate in Memphis peaked in April 2020 at 13.1% and is now 8.9 percentage points lower. You can also compare Memphis unemployment with unemployment in other cities.

Unemployment Rate January 2023 Month/Month Year/Year
National 3.4% -0.1 -0.6
Tennessee 3.5% 0.0 0.0
Memphis 4.2% -0.2 -0.7
Note: Metro level data is now seasonally adjusted.1 All comparisons are made with January 2023 data as February metro level unemployment data has not yet been released.

Unemployment Rate: Memphis, Tennessee, National

Memphis, Tennessee monthly unemployment rate chart

Note: Recessions shown in gray.

Memphis, Tennessee Unemployed

The number of people unemployed in Memphis peaked in April 2020 at 79,681. There are now 53,007 fewer people unemployed in the metropolitan area. Memphis employment and jobs data (including jobs lost/gained in Memphis, Tennessee) is also available.

Unemployed Persons January 2023 Month/Month Year/Year
Memphis 26,674 -1,220 -4,665

Number of Unemployed Persons

Memphis, Tennessee Unemployment History

Date National
Unemployment Rate		 Tennessee
Unemployment Rate		 Memphis
Unemployment Rate		 Memphis
Unemployed
February
2023		 3.6% — — —
January
2023		 3.4% 3.5% 4.2% 26,674
December
2022		 3.5% 3.5% 4.4% 27,894
November
2022		 3.6% 3.5% 4.5% 29,164
October
2022		 3.7% 3.5% 4.6% 29,897
September
2022		 3.5% 3.4% 4.6% 30,109
August
2022		 3.7% 3.3% 4.7% 30,733
July
2022		 3.5% 3.3% 4.7% 30,770
June
2022		 3.6% 3.2% 4.6% 30,164
May
2022		 3.6% 3.2% 4.6% 29,720
April
2022		 3.6% 3.3% 4.6% 29,537
March
2022		 3.6% 3.3% 4.6% 29,521

1. Metro area unemployment rates are now seasonally adjusted. The BLS has started publishing smoothed seasonally adjusted metropolitan area data which makes comparisons to state and national data more relevant than the unadjusted numbers. ↩

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