Atlanta Private Sector Employment, 2015-April 2020
Brunswick Private Sector Employment, 2015-April 2020
The impact of employment losses due to the
coronavirus-related shutdowns reverberated throughout Georgia in April.
Employment
Statewide, more than 457,000 private sector jobs disappeared
over the month plus another 18,500 jobs in government. Despite these losses,
the state fared better than the nation.
Georgia recorded a net job loss of 10.3% in April with a
private sector job loss of 11.7%. Both these percentages were better than for
the nation as a whole, which reported net job losses of 13% and private sector
job losses of 14.6%.
For the Atlanta metro area, which represents more than 60%
of the state’s labor market, job losses in the private sector totaled 11.3%.
Smaller metro areas in the state recorded even larger
percentage losses over the month.
The comparatively small Brunswick area saw 24% of its
private sector jobs disappear in one month.
Savannah and Warner Robins saw more than 15% of their
private sector jobs vanish in April, while Columbus, Ga., recorded private
sector job losses of more than 12%.
The Rome area escaped relatively easily over the month with
a job loss of 5%.
Albany, which has been hit hard by the coronavirus with Dougherty
County reporting a case rate of nearly 2,000 per 100,000 population, actually only
suffered job losses in line with the state average.
The losses were divided between goods producing industries
and service-providing industries with goods producers shedding 10.1% of their
jobs, while service-providing private companies lost 11.7% of their March employment.
Unemployment rates
Consistent with the job losses in April, unemployment rates
in the state moved up sharply. Statewide, Georgia recorded an unemployment rate
of 12.2%, before seasonal adjustment, although that remained below the nation’s
rate of 14.4%.
Among metro areas, Dalton recorded the state’s highest
unemployment rate at 20.5%. Both Savannah and Brunswick reported unemployment
rates in excess of 15%.
Valdosta showed the lowest unemployment rate among the state’s
metro areas at 9.9%.
Looking ahead
Georgia has been one of the first states to re-open its
economy. Increases in employment due to the re-opening of businesses may be partially
offset by losses in business as some individuals remain reluctant to possible exposing
themselves to the virus by shopping, dining, etc.
That combination of factors makes it difficult to predict
employment figures for May, although they will be closely watched by others in
the nation to see how the state’s economy rebounds from its April losses.
