Sunday, August 18, 2019

Georgia's 2nd quarter employment growth revised downward


Job creation in Georgia was not as strong in the second quarter (April-June 2019) as originally reported.

Based on new information from the U.S. Bureau of Labor Statistics, the state saw creation of 11,700 new jobs, down from the original estimate of 14,600 over the three-month period.

Georgia 12-month employment gains, June 2009 - June 2019

Source: U.S. Bureau of Labor Statistics. All data are seasonally adjusted.

With the revised figures, Georgia’s employment growth from the 2nd quarter of 2018 to the 2nd quarter of 2019 increased by 77,500 (1.7%) rather than the originally reported 80,400 (1.8%).

The increase was the smallest 2nd quarter growth rate recorded by the state since 2013 and marks the third consecutive year of continuous slowing in the creation of new jobs.

Industry Data

The 20% decline (-2,900) in new jobs between the preliminary and revised quarterly reports can be attributed to lower employment growth estimates for several industries in the state.

The private sector saw creation of 9,000 new jobs, 1,900 fewer than originally estimated.

Professional and business services declined by 3,200 compared to original estimates of a 2,400-job loss.

Leisure and hospitality showed as smaller decline than originally reported, dropping by 2,100 over the quarter, as opposed to original estimate of a 2,400-job loss.

Health care and social assistance employment rose but by a lower amount than originally estimated. Employment in the sector grew by 3,500. The preliminary estimate had shown an increase of 4,800 jobs.

Construction added fewer jobs than originally reported, growing by 3,500 jobs rather than the previously reported 4,000 job growth.

Public sector jobs (federal, state, and local governments combined) added 2,700 new jobs, down by 1,000 from original estimates.