United States Congress Joint Economic Committee

Tennessee

March 2025

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February Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
Tennessee Unemployment (U-3) 3.5% 3.5% 3.4%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
Tennessee Labor Force Participation Rate 58.9% 58.9% 60.6%
U.S. Labor Force Participation Rate 62.6% 62.5% 62.5%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 3/29/25 12:00 AM $3.16 $3.11 $3.54
Tennessee Gas/gal. $2.81 $2.79 $3.16
South Region: Loaf of Bread $1.83 $1.80 $1.70
South Region: Milk/gal. $4.06 $4.07 $4.22
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2024 (2nd Estimate)
2.3%
TN Real GDP
Q3/2024
4.1%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
TN Hourly Rate
(No minimum wage required)
Last Generated: 3/29/25 5:15 AM