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Weekend edition February 16, 2024 | Tom Ballard

Tennessee struggles more than most states in hiring

That's according to an analysis by WalletHub.

WalletHub, the personal financial website, reports that Tennessee ranks #10 among all the states and the District of Columbia in terms of those where employers are struggling the most in hiring.

While the economy is still recovering from the pandemic, the labor market is showing signs of improvement. WalletHub notes that the national labor force participation rate is nearing pre-pandemic levels, at 62.5 percent as of January 2024, and the unemployment rate is just 3.7 percent. Plus, employees have been getting progressively less inclined to leave their employers, allowing companies to focus on filling new positions rather than simply backfilling them from employee turnover.

Despite these positive statistics, though, many businesses are still facing labor shortages, finding it difficult to hire new employees. Within the U.S., workers are easier to find in some states than others. To see where employers are struggling the most in hiring, WalletHub compared the 50 states and the District of Columbia based on the rate of job openings for the latest month and the last 12 months.

The results are telling. Four of the top 10 states struggling the most are in the South. They are South Carolina (#2), Louisiana (#6), Mississippi (#7), and Tennessee (#10). Just for good measure, Georgia comes in at #11. Which state is struggling the most? It is West Virginia.

The full report can be found here.

 


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