Georgia’s Unemployment Remains Unchanged as Labor Force Reaches Record Highs
Friday, November 17th, 2023
Georgia Labor Commissioner Bruce Thompson announced that Georgia's October unemployment rate was 3.4 percent, unchanged from a revised 3.4 percent in September. The unemployment rate was five-tenths lower than the national unemployment rate.
“Georgia is where talent meets opportunity, and opportunity lifts up talent,” said Commissioner Bruce Thompson. “As we entice diverse industries to establish roots within the state, it is crucial to continue cultivating a highly skilled workforce capable of meeting surging job demands while not simply moving talent around between industries. By cultivating an economy that empowers people, Georgia will continue to maintain our status as a beacon of hope and opportunity for all.”
Jobs were down by -1,100 (-0.0%) over the month and up by 93,400 (1.9%) over the year to 4,937,300. The job loss was the first recorded in 12 months, when jobs fell by -2,700 in October 2022.
Job numbers were at an all-time high in Private Education and Health Services, 674,600, and Leisure and Hospitality, 530,700.
The sectors with the most over-the-month job gains included Health Care and Social Assistance, 4,300; Management of Companies and Enterprises, 1,600; Accommodation and Food Services, 1,200; Professional, Scientific, and Technical Services, 800; and Arts, Entertainment, and Recreation, 700.
The sectors with the most over-the-year job gains included Accommodation and Food Services, 32,200; Health Care and Social Assistance, 29,600; Local Government, 7,700; Real Estate, Rental, and Leasing, 6,200; and Specialty Trade Contractors, 5,000.
The labor force was up by 9,862 to 5,349,119, an all-time high, and was up by 116,549 over the past 12 months. The labor force participation increased to 61.6 percent, and is up from 61.0 percent since the beginning of the year.
The number of employed was up by 5,890 to 5,166,160, an all-time high, and was up by 96,439 over the past 12 months. The employment-to-population ratio was unchanged at 59.5 percent.
In October, 83,000 job listings were online for Georgians to access. The top five employers included Piedmont Healthcare, 1,250; Walmart, 1,125; Emory Health Care, 975; Randstad, 825; and Wellstar Health System, 725.
The top five industries included Health Care, 11,275; Retail Trade, 9,325; Administrative and Support Services, 7,525; Professional, Scientific, and Technical Services, 6,425; and Accommodation and Food Services, 6,250.
The top five occupations included Health Care, 14,150; Sales, 11,375; Hospitality, Food, and Tourism, 8,100; Business Management and Operations, 7,825; and Information Technology, 5,775.
Initial claims were up by 704 (3%) over the month to 21,669 in October. Initial claims were up by 750 (4%) over the year.