Georgia reported 29,000 new nonfarm jobs in October 2015,
its strongest one-month showing since February 2011, according to new
seasonally adjusted data from the U.S. Bureau of Labor Statistics. The
one-month increase was the fourth largest among all states trailing only
California (41,200), Florida (35,200), and Ohio (30,800).
“We saw the state gain 29,000 jobs, which by the way, is
much higher than we have been averaging,” according to Georgia State Labor
Commissioner Mark Butler. “We have been averaging around 16,000 jobs during
that same time period.”
The state’s overall strength in October was due to hiring
in several sectors including Professional and Business Services (6,400), Retail
(5,100), and Government (4,500).
The new employment compares favorably with an increase of 20,500 jobs
posted for October 2014, and contrasts with the weak showing earlier in the
spring and summer. BLS also revised its data for September, adding 4,400 more
jobs to the preliminary report for Georgia, which boosted the state’s September
net increase to 13,500.
Georgia’s seasonally adjusted unemployment rate stood at 5.7
percent in October, a drop of 1.1 percentage points from October 2014. The good
news of a declining unemployment rate was tempered by the fact that the drop
was partially attributable to a decline of 6,076 people in the labor force compared
to the same time last year.
Over the past 12 months, the state’s nonfarm employment has
grown by 97,100 jobs, which translated to a 2.3 percent annual increase and
outpaced the nation’s 2.0 percent increase. The latest jobs picture fell below
the numbers posted in October 2014 when the state’s then 12-month increase of
143,900 jobs translated to a 3.5 percent growth rate.
Over the most recent 12-month period, increases were notable
in Professional and Business Services (20,500), Leisure and Hospitality (17,200),
Education and Health Services (16,100), and Retail (15,600).
The Atlanta area continues to be the state’s job engine,
contributing two-thirds of the state’s net new jobs, adding 19,300 jobs over
the month. Since October 2014, the metro area has increased by 87,800 jobs,
representing 90 percent of the state’s job growth. This translates to a
12-month increase of 3.5 percent.
In 2014, the strong growth in October was followed by increases
at only half that rate in November and December. It remains to be seen if the
pattern in 2015 will see a repeat with the most significant hiring occurring
earlier in the holiday season (October) followed by smaller boosts to job
growth in the last two months of the year.