Tennessee started 2023 with continued low unemployment, according to the latest data released by the Department of Labor and Workforce Development. The rate for January 2023 came in at 3.5%, the fourth consecutive month the state’s jobless number remained at that level.

In a year-to-year comparison, the number was also unchanged from the 3.5% rate the state recorded in January 2022.

Over the month, Tennessee’s workforce increased by 21,800 jobs. The professional and business services sector led the state in job growth, followed by the leisure and hospitality sector, then the mining, logging and construction sector.

During the last 12 months, Tennessee’s employers added 123,200 jobs to their payrolls. The leisure and hospitality sector did the most hiring during the last year. The trade, transportation, and utilities sector saw the next highest amount of growth, followed by the education and health services sector.

Across the nation, unemployment in January dropped by 0.1% to 3.4%. One year ago, the rate for the United States came in at 4%.

While unemployment remains low across Tennessee, employers are still searching for great workers who can help their companies grow. Jobs4TN.gov currently has more than 350,000 open positions posted.

Holland, Waller firms complete combination

Holland & Knight and Waller Lansden Dortch & Davis have completed their combination, effective March 1. As a result of the combination, Holland & Knight will have nearly 2,000 attorneys in 35 offices across the United States and internationally.

Waller, founded in 1905, has more than 50 years of experience providing legal counsel to clients in the health care services industry, including hospitals, health systems, surgery centers, post-acute care, physician practices and health care technology companies.

The firm has a long history of facilitating private equity transactions spanning virtually every segment of the health care industry and is listed as one of the top firms in Chambers USA’s “The Elite” rankings of national health care law firms.

The combination makes Holland & Knight one of the nation’s most prestigious health care law firms and significantly strengthens its capabilities in private equity, financial services, real estate and litigation.

Holland & Knight also expands its U.S. geographic footprint and becomes one of the largest law firms in the state of Tennessee. Waller has more than 280 attorneys with offices in Nashville and Chattanooga, Birmingham, and Austin.

The combination is the latest step in Holland & Knight’s growth strategy, which has focused on building strength in specific geographies, practices and industries. The firm also combined with Texas-based Thompson & Knight in 2021.

Realtor.com: Inventory recovering quickly

The U.S. supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year over year in February, signaling the housing market’s continued rebalancing, the Realtor.com Monthly Housing Trends Report released last week reveals.

Despite the significant increase in inventory over last year’s record lows, home prices are still growing, albeit at a slower pace of 7.8% compared to February 2022, a sign of still-high hopes from home sellers entering the market.

The median home price for the Nashville metro was $518,000 in February, up 8.9% year over year. The active listing count for the area increased 299% as compared to February 2022.

In a market with conditions that don’t particularly favor buyers or sellers, both will likely have to make compromises to make a deal happen.

As mortgage rates continue to fluctuate and increase the cost of buying a home, it’s important for sellers to price their home appropriately to attract buyers in the market.

For buyers, it’s critical they make the best offer they can on a home that fits their needs and budget.

Flow Partners acquires Indiana HVACR provider

Flow Service Partners, a leading provider of heating, ventilation, air conditioning, and refrigeration and plumbing services, announced the acquisition of Nunning Heating, Air Conditioning and Refrigeration, a highly reputable heating and cooling service provider in Evansville, Indiana.

The acquisition of Nunning expands Flow’s footprint in Indiana and reinforces its commitment to providing quality service to its commercial customers. Flow Service Partners is a portfolio company of RLJ Equity Partners, an affiliate of The RLJ Companies, and LP First Capital. Financial terms of the transaction were not disclosed.

Founded in 1978, Nunning is a family-owned business that has been serving the Evansville community for over four decades. The company specializes in providing HVACR installation, repair, and maintenance services to commercial customers. Nunning has built a strong reputation for providing exceptional service to its customers, and this acquisition will enable the company to leverage Flow’s resources and expertise to accelerate its growth and continue to provide high-quality service to its customers.

Nunning represents Flow’s fifth acquisition, and the company intends to continue executing its strategy of building servicing scale and expanding its geographic footprint in the Midwest, Southeast and mid-Atlantic regions.

Firestone, Tread Lightly partner for off-road ethics

Bridgestone Americas announced its Firestone collaboration with Tread Lightly, a national nonprofit organization with a mission to promote responsible recreation through stewardship programs and ethics education.

Together Firestone and Tread Lightly will promote responsible and sustainable off-roading through cross-brand marketing and other activities to ensure Americans’ continued access to our nation’s natural spaces.

The collaboration will kick off with cross-brand social media posts and newsletters. Tread Lightly will train Firestone staff, agency partners, brand ambassadors and others on the organization’s philosophies, principles, and practices.

Firestone will host Tread Lightly team members on its Destination events throughout the calendar year, continuing the off-road ethics education curriculum. During the partnership, Tread Lightly! members will be eligible for rebates on select Firestone Destination products.

Vanderbilt Policy Accelerator announced

Vanderbilt University has announced the creation of the Vanderbilt Policy Accelerator for Political Economy and Regulation, a $6 million effort to advance research, education and ideas.

The Vanderbilt Policy Accelerator is part of Discovery Vanderbilt, a groundbreaking initiative to bolster innovative research and education at Vanderbilt. The policy accelerator will be based in the Law School and led by New York Alumni Chancellor’s Chair and professor of law Ganesh Sitaraman. Sitaraman brings extensive experience in politics and public policy, and will collaborate with multiple peers within Vanderbilt Law School and the university at large.

In 2022, a committee of faculty from across the institution considered options for enhancing public policy at Vanderbilt. VPA leverages Discovery Vanderbilt funding to extend Vanderbilt’s strengths in public policy – which includes Peabody College’s work on education policy, the College of Arts and Science’s leadership on civic and social science policy and Vanderbilt University Medical Center’s work on public health – to issues on political economy and regulation.

Nobel laureate Ressa to address new VU grads

Maria A. Ressa, an internationally acclaimed journalist who has endured political threats and government arrests for her commitment to truth and democracy, will receive Vanderbilt University’s prestigious Nichols-Chancellor’s Medal when she speaks to the university’s graduating students and their families during commencement activities May 11.

The Nichols-Chancellor’s Medal, one of the university’s highest honors, is given to individuals who define the 21st century and exemplify the best qualities of the human spirit. It was created and endowed by Vanderbilt Law School graduate Ed Nichols and his wife, Janice, in honor of Edward Carmack and Lucile Hamby Nichols.

Ressa received the Nobel Peace Prize in 2021 for her efforts to safeguard freedom of expression while being persecuted by the administration of Rodrigo Duterte, president of the Philippines from 2016 to 2022.

TSU, World Bank Group partner for talent share

Tennessee State University is partnering with the World Bank Group in a knowledge and talent-sharing alliance that will provide career and research opportunities for TSU students and faculty.

The World Bank Group HBCU Alliance, which also includes five other historically Black colleges and universities, says the goal is to advance “a more inclusive and sustainable social and economic development” between the bank and the six institutions.

Under the alliance, TSU students and those from the other institutions will be opened to internship and career opportunities. Faculty will receive research opportunities, as well as stipends for those interested in incorporating the bank’s content into their courses and/or project-based research and community studies.

Webstaurant announces Wilson Co. expansion

The Webstaurant Store, LLC officials announced the company will invest $103.9 million to locate new distribution operations in Lebanon’s Speedway Industrial Park.

Through the expansion to Tennessee, Webstaurant will create 225 new jobs in Wilson County.

Webstaurant’s Lebanon facility will be the company’s newest plant and largest investment in automation and infrastructure to date. Once operational, it will utilize automated packing machines and work alongside the company’s current distribution operations in Georgia and Kentucky to target increased demand for restaurant, industrial and other office supplies and equipment in the Midwestern U.S.

Hiring is expected to begin later this year and will continue into 2024. Those interested can apply online. 

Based in Lancaster, Pennsylvania, and founded in 2004, The Webstaurant Store, LLC is one of the largest online restaurant supply companies. Webstaurant specializes in distributing commercial equipment and wholesale supplies around the globe from its operations in Delaware, Florida, Georgia, Nevada and Pennsylvania.