Unemployment rates in Chattanooga region edge lower in August

Staff File Photo by Dave Flessner / A sign for Hardee’s is shown shown Thursday, Sept. 22, 2022. Hardee's is seeking to hire managers and other workers to staff local restaurants. Hospitality employment rose this summer to an all-time high and many restaurants continue to advertise to try to hire workers to fill job vacancies.

Higher interest rates imposed this year by the Federal Reserve Board have yet to disrupt much of Chattanooga's labor market, with unemployment in metropolitan Chattanooga falling again last month to 3.3% as students returned to the classroom and many employers continue to seek more workers to fill job vacancies.

The nonseasonally adjusted unemployment rate in the six-county Chattanooga metro area declined by two-tenths of a percentage point during August to its lowest level since May, according to employment figures released Thursday. Last month's jobless rate for the Chattanooga area was only a half of a percentage point above the all-time record-low jobless rate of 2.8% reached earlier this year.

The Department of Labor and Workforce Development reported that every county in Tennessee experienced lower unemployment rates in August, with 89 of the 95 counties recording rates below 5%.