Showing posts with label employment growth. Show all posts
Showing posts with label employment growth. Show all posts

Wednesday, March 7, 2018

Georgia follows the nation in declining unemployment rate, higher employment-population ratio for 2017

Source: U.S. Bureau of Labor Statistics

Georgia’s average annual unemployment rate declined in 2017 and was one of 17 states whose rate was not significantly different than the nation’s 4.4% average annual unemployment rate, according to newly released data from the U.S. Bureau of Labor Statistics.

Georgia’s annual average unemployment rate for decreased by 0.7 percentage points from 5.4% in 2016 to 4.7% in 2017.

Overall, annual average unemployment rates decreased in 32 states and were little changed or unchanged in 18 states and the District of Columbia.

Among the states, Alaska recorded the highest average unemployment rate at 7.2%.

Five states, Colorado, Hawaii, Nebraska, New Hampshire, and North Dakota, reported unemployment rates below 3%.

Employment-Population Ratio

Georgia’s ratio of people employed to the state’s population rose from 59.1 in 2016 to 60.2 in 2017, an increase of 1.1 percentage points.

The ratio was not statistically different from the nation’s rate of 60.1.

At the end of the 20th Century, Georgia’s ratio was 66.8 but then declined to a low of 57.4 in 2010 before slowing climbing over the past seven years.

Georgia’s 2017 ratio exceeded the employment-population ratios of the states surrounding Georgia, including Alabama, Florida, South Carolina, and Tennessee, all of which were below 59.

The employment-population ratio is the proportion of the civilian noninstitutional population 16 years of age and older that is employed.

Economists continue to argue over whether the employment-population ratio can be substantially increased from these levels. Arguments that the ratio cannot move up significantly include an aging population and more people who have permanently left the workforce because of the effects of disability or for other reasons.

Wednesday, September 30, 2015

Atlanta maintains 4th place in job growth in August

Atlanta grew 4th fastest among the 10 largest metro areas in the U.S. in August, despite adding only 600 jobs over the month according to newly released seasonally adjusted preliminary jobs data from the U.S. Bureau of Labor Statistics.

Over the year, the Atlanta area gained 69,800 new jobs. Ahead of Atlanta in terms of job creation came Los Angeles (+122,400), New York (+116,800), and Dallas (+106,100).

Among the largest metro areas, Dallas recorded the largest percentage gain, up 3.2% followed by Atlanta at 2.8%.

Georgia Metro Areas

In Georgia, the Gainesville area recorded the largest increase in jobs in August, adding 800 new jobs, followed by the Atlanta area, which added 600.

Gainesville and Atlanta areas each grew by 2.8% over the year ending in August, while the Savannah area grew by 2.7%.

Over the year, four metro areas in Georgia recorded decreases in net employment. They include Brunswick (-200), Hinesville (-200), Albany (-700), and Valdosta (-1,100).

A total of five Georgia metro areas are still recording employment counts below where they stood in 2007 before the recession including Albany, Brunswick, Dalton, Rome, and Valdosta.