Georgia unemployment rate and nonfarm payroll numbers unchanged in February

 Georgia Unemployment Rate, January 2022 - February 2023, seasonally adjusted

Georgia’s unemployment rate and its nonfarm payroll employment was essentially unchanged in February according to new information provided by the U.S. Bureau of Labor Statistics.

Unemployment

Georgia’s unemployment rate remained at 3.1% in February, the same as recorded in the previous six months.

The state’s labor force grew by 9,201 over the month, the second consecutive month that the labor force has increased by more than 5,000. The number of people employed rose by 7,950, while the number of unemployed increased by 1,251.

Compared to a year ago, the state’s labor force has grown by 52,995, with the number of people employed gaining by 48,415, while the number of unemployed has risen by 4,580.

Nonfarm payroll employment

Georgia’s nonfarm payroll rose by 3,200 workers in February, a much smaller increase than the January revised total of 15,200. The increase was much less than was recorded in February 2022, when the state added 26,300 jobs over the month.

In contrast to prior months, the private sector accounted for less than half of the monthly increase, rising by 1,500 jobs in February.

Industries reporting notable increases over the month included construction (1,300), wholesale trade (1,000), retail trade (3,000), and other services (1,000).

Industries reporting decreases in payrolls included professional and business services (-3,300), information (-1,500), and manufacturing (-1,400).

Governments added 1,700 jobs in February, with most of that growth in local government employment (1,100).

The complete news release for February is available at LAUS Home : U.S. Bureau of Labor Statistics (bls.gov). 

Georgia headline unemployment rate under 3% as the state continues to post solid growth numbers

Georgia’s June unemployment rate came in at 2.9%, statistically not a significant change from last month’s 3.0% rate, but one that will be noted by most of the media as the lowest unemployment rate in the state going back to the beginning of the series in 1976.

In the state’s news release, Georgia Labor Commissioner Mark Butler is quoted: "We have never seen an unemployment rate below three percent," said Commissioner Butler. "The unemployment rate is decreasing exactly the way it should in a strong economy. We are adding new job seekers and they are quickly finding employment."

Labor Force

The state’s labor force grew by 8,103 people in June. Contributing to the state’s 2.9% unemployment rate was an increase of 10,420 people employed while 2,317 fewer people were counted as unemployed. The labor force participation rate (62.3) and the employment-population ratio (60.5) remained unchanged over the month. Both rates remained slightly below the levels they reached at the end of 2019.

Jobs

Georgia added 18,100 nonfarm jobs in June, roughly in line with additions in March, April, and May. Of those new jobs, 15,000 were in the private sector and 3,100 were in government. The showing in government was the best one-month net new job growth since June 2020.

Since June 2021, the state has seen the addition of 246,300 jobs for a growth rate of 5.4%. Of those, 238,000 have been in the private sector.

Job growth among sectors was nicely distributed with health care and social assistance jobs in Georgia growing by 3,700 over the month, professional and business services employment rising by 2,800, the manufacturing sector adding 2,500, leisure and hospitality employment increasing by 2,500, wholesale trade jobs increasing by 2,200, and state government adding 2,000 jobs.

Construction industry employment continues to disappoint. In June, jobs in the sector were down by 400. Although constructions jobs grew by 1,100 in May, they fell by a total of 6,200 between February and April. Over the past 12 months, construction jobs in Georgia have declined by 200 even as other sectors post rapid growth.

Employment up and unemployment rate down, but it isn’t all good news for Georgia in May

Georgia saw the addition of 18,100 jobs in May and a drop of the state’s unemployment rate to 3.0%, which is the lowest unemployment rate recorded in Georgia (back to 1976). The state’s employment-population ratio (the number of employed people as a percentage of the civilian noninstitutional population) rose to 60.5, reaching the level it achieved in February 2020, before Covid-related cutbacks and shutdowns. The state’s labor force participation rate (the participation rate is the percentage of the population that is either working or actively looking for work.) rose to 62.3, still below the level in February 2020. 

Those are the headlines, and if you stop there, you are getting only part of the picture of the state’s labor market. 

Job growth by metro area 

Underlying those numbers, it is worth noting that the Atlanta metro area, which has served as the engine for the state’s employment growth, saw an increase of only 4,400 jobs in May, the slowest rate of increase since September. While one-month slowdown in the state’s largest metro area is not a concern and may easily be rectified when the revised numbers are produced next month, it needs to be an area of concern. 

Despite the continued good numbers overall, 6 of the state’s 14 metro areas reported employment below their pre-pandemic levels. Because the Atlanta area constitutes such a large portion of the state’s labor market, it can mask slower growth in other parts of the state. 

Areas showing May 2022 job levels lower than in February 2020 include Valdosta (-200), Dalton (-300), Warner Robins (-500), Augusta (-2,800), Columbus (-1,700), and Albany (-1,100). Most of these areas have never achieved their pre-pandemic jobs levels, although Dalton had reached that level but has slipped back in the past few months. 

Job growth by industry 

A similar situation relates to jobs by industry. Georgia has added 244,100 jobs over the past 12 months, resulting in a 5.4% job growth rate, but not all sectors in the economy have reached their pre-pandemic levels despite this overall increase. 

Construction employment in the state remains 4,000 jobs below its pre-pandemic level (down nearly 2%) mainly due to a lack of job growth in the heavy construction (infrastructure) industry. 

Employment in corporate offices (referred to as management of companies and enterprises) remains down by 1,500 jobs. 

Jobs in accommodation and food services remain 16,800 (-3.7%) below their pre-pandemic level, while jobs in other services are 7,300 (-4.3%) below the level reached in February 2020. 

Both state and local government jobs remain below pre-pandemic levels with state government jobs down by 13,200 (-7.9%) and local government employment down by 9,000 (-2.1%). 

Even with the upbeat news on job growth and the decline in the state’s unemployment rate, its worth remembering that not all industries or all areas of the state have recovered yet.

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.

Georgia unemployment rate levels off in March, breaking previous trend

Georgia’s unemployment rate stood at 3.1% in March 2022. According to the U.S. Bureau of Labor Statistics, the change in the state’s unemployment rate over the month was within the sample error range, so speaking statistically, the rate remained stable from February to March. A  year ago, the state’s unemployment rate stood at 4.4%.

Nonfarm employment was little changed in March, but recorded a 5.2% rise compared to March 2021. In March 2022, the state’s nonfarm employment stood at 4,740,400, up 234,400 over the past 12 months.

Unemployment in Georgia

Because the household sample for the state is only a small subset of the national sample, it takes a much greater change in the state’s unemployment rate to be statistically significant as smaller samples are more subject to greater sampling and non-sampling errors.

This can cause confusion where a number that may look smaller than the previous month may actually reveal no change due to the error range of the smaller sample.

Throughout 2021 and into 2022, Georgia’s unemployment rate was consistently below the nation. This trend was broken in March when BLS noted that the state’s unemployment rate was not statistically significantly different than for the nation as the national rate fell faster than for the state.

It is possible that this change in the trend may indicate that the state is reaching the bottom of its current trend and that Georgia’s unemployment rate may begin to rise in future months, either due to people currently not in the labor force deciding to return to search for work, or because more people find themselves unemployed.

If a rise in the unemployment rate is due to people being drawn back into the labor force, that can be a positive development for Georgia’s economy, while more people moving from employed to unemployed would be seen as a negative development.

Future months will better reveal whether Georgia can regain its relative outperformance.

Nonfarm employment

Over the first quarter of 2022, Georgia saw the addition of 65,700 nonfarm job, of which 64,300 were in the private sector and 1,400 resided in governments.

All of the private sector’s job growth was concentrated in service-providing industries, which added 64,700 jobs, while the goods-producing sector, which includes manufacturing and construction, saw a decline of 400 jobs in the first three months of the year.

Within the goods-producing sector, the construction industries showed a net loss of 4,000 jobs, while manufacturing in the state recorded an increase of 3,400 jobs. 

Georgia shows strong job market continuing in February

Georgia added 24,700 new jobs in February following a revised increase of 25,000 jobs in January, according to new data released by the U.S. Bureau of Labor Statistics.

With these most recent two months, the state saw an over-the-year increase of 232,000 jobs or 5.2%, with 228,400 jobs created by the private sector.

February marked the fourth consecutive month where the total number of nonfarm jobs in the state recorded a new high, reaching the 4.7 million mark.

The state’s unemployment rate remained at 3.2%, the same as January, although the number of employed inched upwards, while the number of unemployed inched downward over the month.

Employment by industry sector

Most industry sectors in Georgia recorded increases over the month, with jobs in the professional and business services sector rising by 10,500 in February. Over the past 12 months, the sector has seen an increase of 52,500 jobs, or 7.3%.

Among private industry sectors, construction stood out as losing 4,300 jobs in February, after seasonal adjustment. With the February decrease, construction employment fell below its pre-Covid level.

The leisure and hospitality sector, hard hit by Covid-related shutdowns and cutbacks in 2020, saw an increase of 4,300 jobs in February. Over the past 12 months, the sector has recorded a net addition of 43,800 jobs, or 10.1%. Despite the gains, employment in this sector remains below its pre-Covid levels.

Another area still struggling to reach are state and local governments. State government lost 300 jobs in February. Over the past year, state government employment has shrunk by 3,100 jobs or -2%.

Employment in local governments fell by 100 jobs in February. Over the past 12 months, employment in this sector has risen by 7,100 or 1.8%.

Georgia December employment by the numbers

 State Employment and Unemployment - December 2021 - Seasonally Adjusted

Number employed 5,177,893

Number unemployed 5,041,987

Unemployment rate 2.6

Labor force participation rate 61.5

Employment-population rate 59.8

Net number of nonfarm jobs created over the month 24,200

Net number of nonfarm jobs created over the year 198,200

Percent change in nonfarm jobs over the year 4.5

For more detailed information and commentary, see 

Georgia’s lack of Covid restrictions hurting the state’s businesses and labor force

Unemployment rates for all 159 Georgia Counties - November 2021

 Unemployment rates fell in all 159 counties in Georgia between November 2020 and November 2021, according to data supplied by the U.S. Bureau of Labor Statistics.

Georgia's state unemployment rate decreased by 3.1 percentage points over the year, to 2.2 percent in November 2021 from 5.3 percent in November 2020 before seasonal adjustment.

For the counties, Clayton County showed the largest decline, dropping by 6.1 percentage points to 3.5 percent in November 2021 down from 9.6 percent in November 2020. County unemployment rates are not seasonally adjusted.

As of November 2021, Clay County posted the state's highest unemployment rate of 6.4 percent followed by Telfair County at 4.2 percent.

Jackson and Oconee counties tied for the lowest unemployment rates in the state with each posting a 1.4 percent unemployment rate.

County unemployment rates for the last month of the year (December) will be released by BLS on February 2, 2022.

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).

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.

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.