Memphis, Tennessee Unemployment
The BLS reported that the unemployment rate for Memphis rose 0.1 percentage points in October 2023 to 4.2%. For the same month, the metro unemployment rate was 0.9 percentage points higher than the Tennessee rate. The unemployment rate in Memphis peaked in April 2020 at 12.9% and is now 8.7 percentage points lower. From a post peak low of 3.9% in April 2023, the unemployment rate has now grown by 0.3 percentage points. You can also compare Memphis unemployment with unemployment in other cities.
| Unemployment Rate | October 2023 | Month/Month | Year/Year |
|---|---|---|---|
| National | 3.9% | +0.1 | +0.2 |
| Tennessee | 3.3% | +0.1 | -0.2 |
| Memphis | 4.2% | +0.1 | 0.0 |
Unemployment Rate: Memphis, Tennessee, National
Note: Recessions shown in gray.
Memphis, Tennessee Unemployed
The number of people unemployed in Memphis peaked in July 2020 at 79,523. There are now 53,505 fewer people unemployed in the metropolitan area. From a recent trough of 24,533 in April 2023, the number of unemployed has now grown by 1,485. Memphis employment and jobs data (including jobs lost/gained in Memphis, Tennessee) is also available.
| Unemployed Persons | October 2023 | Month/Month | Year/Year |
|---|---|---|---|
| Memphis | 26,018 | +521 | -69 |
Number of Unemployed Persons
Memphis, Tennessee Unemployment History
| Date | National Unemployment Rate |
Tennessee Unemployment Rate |
Memphis Unemployment Rate |
Memphis Unemployed |
|---|---|---|---|---|
| November 2023 |
3.7% | — | — | — |
| October 2023 |
3.9% | 3.3% | 4.2% | 26,018 |
| September 2023 |
3.8% | 3.2% | 4.1% | 25,497 |
| August 2023 |
3.8% | 3.1% | 4.0% | 25,207 |
| July 2023 |
3.5% | 3.1% | 4.0% | 24,860 |
| June 2023 |
3.6% | 3.2% | 3.9% | 24,643 |
| May 2023 |
3.7% | 3.3% | 3.9% | 24,707 |
| April 2023 |
3.4% | 3.3% | 3.9% | 24,533 |
| March 2023 |
3.5% | 3.4% | 4.0% | 24,990 |
| February 2023 |
3.6% | 3.5% | 4.0% | 25,271 |
| January 2023 |
3.4% | 3.5% | 4.1% | 25,335 |
| December 2022 |
3.5% | 3.5% | 4.1% | 25,855 |
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. ↩
Department of Numbers
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