GEORGIA’S UNEMPLOYMENT RATE DECLINES FOR THE FOURTH STRAIGHT MONTH

Written by Elizabeth Davis. Posted in News & Weather

The Georgia Department of Labor has reported that the state’s seasonally-adjusted unemployment rate declined for the fourth straight month to 4.9 percent last month, down from five percent in April and from 5.3 percent in May 2016.  The last time that the state recorded a jobless rate as low as 4.9 percent was in October 2007.

State Labor Commissioner Mark Butler indicates that the rate declined as more individuals entered the workforce.  Right at 10,000 of those workers were able to find gainful employment.

In spite of a slight loss in the number of jobs in Georgia over the last couple of months, the state continues to offer a wealth of employment opportunities to its residents, attests Butler.

Jobs were down across the state over the month by 3,800, or .1 percent, to 4,465,300 in May.  Over the year, jobs were up by 103,100 to mark a 2.4 percent growth rate from 4,362,200 jobs in May 2016.  The state’s year-to-year job growth rate bested that of the nation, which was 1.6 percent.

In Metro Rome, jobs were up over the year by 800, or 2.0 percent, to 41,500 in May 2017.

Initial claims for unemployment insurance benefits, an indicator of new layoffs, increased over the month statewide by 3,234, or 14.9 percent, to 24,867 in May.  Over the year, claims were down by 5,458, or 18 percent, from 30,325 in May 2016.

Metro Rome’s initial UI claims were down by 38, or 11.5 percent, to 293 in May of 2017.

Connect with the Georgia Department of Labor online for additional labor market data, career opportunties and other GDOL services for job seekers at www.dol.georgia.gov.

 

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