Georgia Employment Keeps Reaching New Highs
Friday, March 22nd, 2024
Georgia Labor Commissioner Bruce Thompson announced Thursday that Georgia's February unemployment rate was 3.1, unchanged from a revised 3.1 percent in January. The unemployment rate was eight-tenths lower than the national unemployment rate.
“In Georgia, we’re not just keeping pace with the nation – we’re leading the charge in building an ecosystem where businesses and employees not only survive, but thrive,” said Commissioner Thompson. “Georgia's long-standing track record of excellence and economic opportunity makes the Peach State one of the nation’s top destinations to live, work, and raise a family.”
Jobs were up by 2,400 (0.1%) over the month and up by 48,900 (1.0%) over the year to 4,938,200, an all-time high.
The sectors with the most over-the-month job gains included Transportation and Warehousing, 3,200; Accommodation and Food Services, 1,800; Local Government, 1,800; Federal Government, 1,000; and Heavy and Civil Engineering Construction, 900.
Jobs were down in Wholesale Trade, -2,700; Retail Trade, -1,300; Administrative and Support Services, -1,200; Private Educational Services, -900; and Professional, Scientific, and Technical Services; -800.
Jobs were at an all-time high in Leisure and Hospitality, 525,600.
The sectors with the most over-the-year job gains included Health Care and Social Assistance, 22,600; Local Government, 12,500; Accommodation and Food Services, 11,300; Arts, Entertainment, and Recreation, 8,000; and Professional, Scientific, and Technical Services, 8,000.
Jobs were down in Information, which includes Motion Picture and Sound Recording Industries, -17,300; Administrative and Support Services, -16,600; and Transportation and Warehousing, -11,200.
The labor force was up by 5,237 to 5,335,272, an all-time high, and was up by 65,888 over the past 12 months. The labor force participation rate held at 61.4 percent.
The number of employed was up by 8,458 to 5,171,733, an all-time high, and was up by 71,459 over the past 12 months. The employment-to-population ratio held at 59.5 percent.
The number of unemployed was down by 3,221 to 163,539, the lowest figure since July 2022 (162,614), and was down by 5,571 over the past 12 months.
Initial claims were down by 14,443 (-39%) over the month to 22,888 in February. Initial claims were down by 167 (-1%) over the year.
