Showing posts with label brunswick economy. Show all posts
Showing posts with label brunswick economy. Show all posts

Thursday, January 28, 2021

Job losses in 2020 concentrated in larger metro areas in Georgia

 

Map source: By DoubleZ OTP - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=89173265


In 2020, Georgia recorded a net job loss of 77,700 jobs, before seasonal adjustment, which represented a 1.7 percent decline over the year. The net loss of jobs was the first recorded for the state since 2009.

Job losses were not evenly distributed across the state. The effect of the coronavirus on job growth and losses in 2020 becomes obvious when comparing statewide job losses to those in the metro areas of the state.

The Atlanta metro area, which constitutes the state’s largest labor market, accounted for more than 90 percent of the state’s net losses in 2020 resulting in a decline of 2.5 percent (-72,500 jobs). For more than a decade, the story in Georgia has been the persistent job gains occurring in large metro areas compared to more rural parts of the state. Before 2020, the last year where the Atlanta metro area put in a worse annual jobs performance than the state was in 2009.

The state’s second largest metro area, Augusta, experienced an even larger decline as its jobs market saw a 4.1 percent drop over the year resulting in 9,900 fewer jobs than in December 2019.

The Macon and Savannah areas suffered losses but the percentage declines in their labor markets were smaller than the state as a whole. The Savannah area saw a net job loss of 1,200, which translated to 0.6 percent drop. The Macon area recorded a loss of 1,600 jobs, which represented a 1.5 percent drop in its job market.

Three of the state’s smaller metro areas posted net job gains over the year. They included Valdosta (1,900), Rome (400), and Hinesville (200).

An exception to the larger employment drops being concentrated in the larger job markets was Brunswick. The southeastern Georgia coastal area recorded the worse performing job market among metro areas in the state in 2020. The Brunswick metro area saw jobs drop by 5,200 or 11.6 percent.

The Brunswick area saw large percentage employment declines in its goods-producing sector (-7.3%), private service-providing sector (-14.6 percent), state government (-5.6 percent), as well as local government (-5.8 percent).

Information for this report was provided by the U.S. Bureau of Labor Statistics. www.bls.gov.