Showing posts with label layoffs. Show all posts
Showing posts with label layoffs. Show all posts

Thursday, September 17, 2015

Georgia unemployment rate drops, job growth is modest in August

Georgia added 2,200 jobs in August, while the state’s unemployment rate dropped to 5.9%.



“This is the first time Georgia’s unemployment rate has dropped below six percent since May 2008,” said State Labor Commissioner Mark Butler. “The rate declined as our employers laid off the fewest workers for any month in more than 15 years and continued to create jobs.”

In a YouTube video, Commissioner Butler alluded to the fact that the decline in the rate was due to people dropping out of the labor force rather than people finding jobs. Layoffs decline while a slowdown continues in the number of new jobs being created by companies and government.

Nonfarm employment rose by 2,200 in August, a modest gain compared to the increase of 14,300 jobs in August 2014.

There was good news in the revision of the preliminary count of jobs in July. The July jobs number was revised upward from the preliminary 4,600 jobs to a revised count of 10,500 jobs.

Over the year, the state has added 83,200 jobs, its slowest 12-month increase since 2013.

In 2014, the state was growing faster than the nation, but that has now changed. Georgia’s job growth at 2.0% is slower than the national rate of 2.1% despite recent drops in the price of gasoline, which is putting more money into the pocket of consumers and Georgia businesses, such as Delta Air Lines and UPS.