Showing posts with label Georgia unemploment rate. Show all posts
Showing posts with label Georgia unemploment rate. Show all posts

Friday, November 19, 2021

Georgia unemployment rate drops to 3.1%; jobs increase by 21,100 in October

Unemployment rate in Georgia declined while the number of jobs in the state rose in October, according to the U.S. Bureau of Labor Statistics.

Georgia’s unemployment rate stood at 3.1 percent in October, and the state saw a net increase of 21,100 jobs. Numbers are preliminary, subject to revision, and have been seasonally adjusted.

Georgia unemployment

The state’s unemployment rate reached a series low of 3.1 percent in September as the number of employed people rose by 11,008 and the number of unemployed dropped by 12,897.

Labor force declined by 1,889 persons in October after increasing in each of the four previous months. As a result, Georgia’s labor force participation rate was 61.5 percent in October. Labor force participation is calculated by combining the number of people counted as employed with the number counted as unemployed to determine the state’s labor force.

Employment-population ratio remained unchanged in October at 59.6 percent. The employment-population ratio is the percentage of the state’s estimated population who are employed.

In October 2020, the state’s unemployment rate stood at 5.9 percent with a labor force participation rate of 61.7 percent and an employment-population ratio of 58.1 percent.

Georgia jobs

The state saw a net increase of 21,100 jobs in October with the private sector increasing by 22,300, while government jobs dropped by 1,200.

Over the month, the largest increases were in the transportation, warehouse, and utilities sector with an increase of 3,600 jobs followed by the addition of 3,400 jobs in education and health care services. Manufacturing employment rose by 3,300 and professional and business services increased by 3,200. Retail trade employment rose up by 3,000.

State government jobs declined by 500 and jobs in local governments decreased by 400.

Since October 2020, Georgia has seen a net increase of 196,900 jobs resulting in a 4.5 percent growth rate.

Jobs in the private sector rose by 198,900 (5.3 percent) and government jobs declined by 2,000 (-0.3 percent).

Over the past year, jobs in the professional and business services sector have increased by 60,400, up by 8.7 percent. Employment in the leisure and hospitality sector has risen by 31,300, a 7.5 percent increase.

Transportation, warehouse, and utilities accounted for the largest percentage increase over the year, up by 9.9 percent, or 23,300 jobs. Employment in the education and health care services sector rose by 23,300 (4 percent).

State government employment has declined by 300 jobs (-0.2 percent), while local government jobs rose by 2,100 (0.5 percent).




Thursday, November 18, 2021

Update: Georgia October unemployment rate: 3.1%, Jobs increase by 21,100

The Georgia Department of Labor has issued its report for October 2021. The preliminary numbers indicate a state unemployment rate of 3.1 percent, while the numbers of jobs in the state rose by 21,100 over the month after seasonal adjustment.

All of the increase in jobs in October can be attributed to the private sector, where jobs grew by 22,300 over the month, while government jobs dropped by 1,200.

Over the past year, the number of net new jobs in the state has risen by 196,900, a 4.5 percent increase. Private sector employment accounted for all of the increase with private sector jobs growing by 198,900, a 5.3 percent increase since October 2020. Jobs in the government sector of the state’s economy declined by 2,000 over the past year.

The report also shows revisions to the information reported for September 2021. Preliminary data for September indicated a state unemployment rate of 3.2 percent with increase of 14,300 jobs over the month. With the revisions, September’s unemployment rate now stands at 3.3 percent and a jobs increase of 20,600 over the previous month.

More detailed information will be available on Friday, November 19, when the U.S. Bureau of Labor Statistics will issue their October report for states.


Saturday, November 6, 2021

Georgia sees job growth in September but without much help from the metro areas

 Georgia nonfarm employment, January-September 2021

Georgia added 14,300 nonfarm jobs in September after seeing a net decline of 700 jobs in August, according to new and revised seasonally adjusted data provided by the U.S. Bureau of Labor Statistics.

Although the 29-county area that makes up metropolitan Atlanta accounts for more than 60% of the state’s nonfarm jobs, it contributed only a third of the state’s job growth in September.

Georgia’s other 13 metro areas reported a net increase of less than a tenth of the state’s increase, with the majority of job growth occurring in the state’s rural area, according to BLS.

The state recorded an unemployment rate of 3.2% in September, down from 3.5% reported in August.

Before seasonal adjustment, both the state and the metro Atlanta’s unemployment rate in September came in at 2.5%.

Atlanta and statewide employment

Before seasonal adjustment, the Atlanta metro area saw an increase of 4,000 jobs in September, all of which belonged to the government sector (Federal, state, and local governments).

Private sector employment fell by 1,700 jobs in the Atlanta metro area. The rest of Georgia, excluding the Atlanta area, saw a net gain of 1,900 private sector jobs over the month.

Construction jobs grew by 500 in the Atlanta area and the state added another 500 jobs in the rest of the state.

Manufacturing jobs grew by 1,300 jobs in the Atlanta metro area even as the rest of the state recorded a decline of 1,600 jobs.

Health care and social assistance jobs fell by 3,300 in the metro Atlanta area but rose by 1,200 in the rest of Georgia.

Employment in food services and drinking places dropped by 3,000 in metro Atlanta, while the rest of Georgia saw a loss of 1,800 jobs.

As mentioned above, government jobs were a bright spot for the Atlanta metro area, rising by 5,700 over the month. The rest of Georgia saw a net increase of 700 jobs in September.