Cheatham County May 2017 unemployment rate lowest in nearly 2 decades

The Tennessee Department of Labor and Workforce Development released labor market estimates for Tennessee Counties for May 2017 on Thursday afternoon.  The unemployment rate for Cheatham County was the 5th lowest of Tennessee’s 95 counties at 2.3%.  That, combined with a high labor market participation rate (see “How do you measure your workforce? ” for more on the participation rate), is a great sign of healthy community economic development.  Out of curiosity, I did a little research to see how frequently that level of employment had been achieved.  I had to dig back into the data almost 20 years to find a lower unemployment rate for May — May 1999 at 2.0%.  For comparison, the unemployment rate for May 2012 was 7.2%.

About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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