Hamilton County’s jobless rate in January rose eight-tenths of a percent from December to reach 10 percent, the highest rate in nearly 27 years, according to figures from the Tennessee Department of Labor and Workforce Development.
In July 1983, Hamilton County’s rate was 10.4 percent. The highest recorded in Hamilton County, according to the department, was 11.9 percent in February 1983.
Economists say January unemployment typically rises as temporary workers hired to work during the holiday season are let go, but county figures are not adjusted to compensate for the seasonal variation in employment.
Still, while it’s hard to see record-setting double-digits unemployment rate as good news, Tom Edd Wilson, Chattanooga Chamber of Commerce president and CEO, said it’s not as bad as it looks.
“I think we’re on the road to recovery, but I think it’s going to be a much slower recovery than we’ve experienced in past economic downturns,” Mr. Wilson said. “Chattanooga will be better positioned than many if not most other cities our size in the country to come out of this recession with more jobs, and with increased productivity.”