Showing posts with label Athens jobs. Show all posts
Showing posts with label Athens jobs. Show all posts

Friday, May 20, 2022

Georgia maintains low unemployment rate, more job growth in April

 Georgia nonfarm jobs, January 2020 - April 2022

Data seasonally adjusted. Source: U.S. Bureau of Labor Statistics

Georgia remained at its historical low unemployment rate of 3.1% in April, the same as in March. Since June of last year, the state’s unemployment rate has stayed consistently below 4% as employment in the state grew and the number of people unemployed buy actively seeking work continued to fall.

The state added 19,000 nonfarm jobs in April, slightly more than the revised 18,200 jobs recorded for March.

Unemployment in Georgia

The state’s unemployment rate remained unchanged in April, while the state’s unemployment rate decreased from 4.3% in April 2021 to 3.1% in April 2022.

The number of people unemployed but actively seeking work fell to 160,885. Compared to a year ago, the number of unemployed persons declined by 60,472. The number of people currently unemployed in Georgia is near the unemployment level recorded in May 2001 when the state’s labor force was more than 1 million people smaller. In May 2001, the state’s unemployment rate was 3.7%.

Nonfarm jobs

Since April 2021, Georgia has seen the addition of 252,000 jobs (5.6%), although state and local government employment growth remains muted.

The private sector in the state added 17,200 jobs in April, while the government sector added 1,800 jobs. Over the past 12 months, private sector employment has grown by 246,600 (6.4%), while government employment has risen by 5,400 (0.8%).

Industries recording job losses over the month included construction (-1,400) and manufacturing (-1,200).

Job growth was most pronounced in wholesale trade (7,900), and professional and business services (6,000).

Over the most recent 12-month period, industries seeing the largest numerical increases include professional and business services (64,100), leisure and hospitality (41,700), retail trade (24,800), and health care and social assistance (19,600).

One area that remains a concern is construction, which posted a job loss of 1,400 jobs in April with industry employment 1,000 jobs below its level in April 2021. After showing solid growth in 2021, the industry has seen a decline of 6,000 jobs since January.

Atlanta, Athens, and Savannah areas

Within the state, three areas are posting significant job growth rates over the past year.

The Atlanta metro area added 11,000 of the state’s 19,000 new jobs in April. Over the past year, the Atlanta area job market has grown faster than the state as a whole, with the metro area adding 183,000 jobs, and accounting for more than 70% of the state’s job growth.

While the state has seen a 5.6% growth in new jobs since April 2021, the Atlanta metro area job market has increased by 6.6%.

Athens-Clarke County metro area added 500 new jobs in April. Over the past 12 months, the area has seen an increase of 6,200 jobs, or 6.5%.

The Savannah metro area job market declined by 900 jobs in April, its first monthly decline since October. Over the past 12 months, the Savannah area has seen the addition of 11,400 new jobs for a growth rate of 6.1%.

All three job markets are now larger than in February 2020, before the pandemic-related job downturn.