Georgia posted a 2.2 percent rise in calendar year 2015 following
only California and Florida, which each posted increases of 2.9 percent.
While Georgia added only 3,300 jobs in December, it averaged
nearly 7,600 new jobs each month over the past year for a total of 91,100 net
new jobs. In contrast, California added
the most new positions among the 50 states in 2015 at 459,400, followed by
Florida, which added 233,100 new jobs.
Of the 11 largest states, only Illinois showed a decrease
with a net loss of 3,000 jobs over the year.
Together, the 11 largest states accounted for more than 55
percent of the nation’s new jobs (1,459,900 compared to 2,650,000 nonfarm jobs
nationally) with a combined job creation rate of 1.9 percent, equal to the nation’s
rate.
5-year recovery from recession
Georgia nonfarm jobs, 2000 - 2015, seasonally adjusted
Despite a slow rebound from the 2007-2009 recession, Georgia
has rapidly added jobs over the past three years resulting in a five-year growth
spurt of 441,800 jobs. This has resulted in an 11.4 percent rise in its nonfarm
employment and places it 4th among the fastest growing large states
in the nation.
Other large states with significant five-year growth rates include California (14.2 percent), Texas (14.1 percent), and Florida (13.9 percent).
Large states have been significantly outperforming states
with smaller populations since the end of the recession. Since the end of 2010,
the 11 largest states have captured 60 percent of the net new nonfarm jobs in
the nation.
Atlanta remains a key
component of Georgia’s job engine
In 2015, the Atlanta metro area added 77,000 of
the state’s 91,100 net new jobs, accounting for 84.5 percent of the state’s
growth even as the area is home to approximately 60 percent of the state’s
total nonfarm jobs.
Since the end of 2010, the Atlanta metro area has seen the
addition of 338,200 jobs, which represents more than 75 percent of all the new jobs in the state.
A good example of the importance of the metro area to the
state is in December’s numbers, where the Atlanta metro area’s 200 job decline
resulted in a slowdown in the state’s job growth to only 3,300 net new jobs.
Without a robust Atlanta economy, the rest of the state cannot maintain job
growth by itself.
The drop-off in the Atlanta job market last month was the
first time the area had noted a job decrease in a December since 2009.