The Atlanta area’s unemployment rate stood at 3.4% in
January, showing virtually no change over the year, according to new
information released by the U.S. Bureau of Labor Statistics. In January 2022,
the Atlanta area posted an unemployment rate of 3.3%.
The metropolitan area’s nonfarm payroll employment rose by 15,700
in January, after seasonal adjustment, compared to a 1,000 drop in December.
On a seasonally adjusted basis, the Atlanta area nonfarm
payroll number hit an all-time high of 3,040,700 jobs. Before seasonal adjustment,
the payroll number was below the levels recorded in October, November, and December
last year. This was to be expected as payrolls normally drop after the holiday
season.
Unemployment (Not seasonally adjusted)
Since January 2022,
the area’s labor force has risen by 18,708 as the number of employed grew by 20,272
and the number of unemployed dropped by 1,564.
In terms of percentage change, the area’s labor force rose
by 0.8%, employment increased by 0.7%, and unemployment dropped by 1.5% over
the year. In comparison, the statewide labor market rose by 0.8%, employment
grew by 0.9%, and unemployment fell by 1.3% since January 2022.
Nonfarm payroll employment (Not seasonally adjusted)
Before seasonal adjustment, the area’s payrolls fell by 30,100,
although this was a smaller decline compared to January 2022 when payroll
employment fell by 48,000 in a month where employment normally declines in the
post-holiday season.
Over the year, nonfarm payrolls in the Atlanta area have
risen by 117,500, an increase of 4.1% compared to the statewide increase of 168,200
or 3.6%.
For both the Atlanta area and statewide, most of the
increase occurred in the private sector with private sector payrolls in the
Atlanta area increasing by 109,800 (4.3%) compared to a 155,300 (3.9%) increase
statewide.
In the Atlanta area, all major industries posted over the
year increases in payrolls compared to January 2022. The largest numerical
increases occurred in leisure and hospitality (28,300), health care and social
assistance (18,700), professional and business services (12,300), and financial
activities (10,900).
The smallest rise in payrolls occurred in state government,
increasing by only 200 over the year.
The BLS news release for the Metropolitan Area Employment
and Unemployment Summary is available at Metropolitan Area
Employment and Unemployment Summary - 2023 M01 Results (bls.gov).