Georgia job market still positive, but may be leveling off

ATLANTA – Unemployment information reveals a Georgia job market that’s nonetheless sizzling however leveling off.

The state’s unemployment charge ticked as much as 2.9% in October after three months at an all-time low of two.8%. And whereas employers are nonetheless including staff to payrolls, these beneficial properties could also be slowing.

The jobless charge remained under a yr in the past, when 3.4% of Georgia staff have been unemployed. However the labor pressure fell for the fourth straight month, whereas the variety of individuals reporting that they had a job fell for the third straight month. The variety of Georgians unemployed and searching for work crept as much as 152,000 after two months of ultra-low readings under 150,000.

It was the primary improve in Georgia’s jobless charge since hitting an all-time excessive of 12.3% initially of the pandemic in April 2020.

AMAZON BEGINS MASS LAYOFFS AMONG CORPORATE WORKFORCE

The variety of staff on employer payrolls — the highest labor market measure for a lot of economists — rose by 3,000 in Georgia in July, reaching 4.84 million. That’s 204,000 above payroll ranges final yr.

Payrolls hit a brand new all-time excessive for the eleventh straight month. Payrolls are measured by a survey of employers, separate from the survey of people.

CLEAN BATTERY MAUFACTURE ANNOUNCES NEW PLANT IN GEORGIA

Republican Labor Commissioner Mark Butler stated probabilities of discovering a job stay good regardless of “some remoted layoff occasions.”

“We’re nonetheless setting data in a number of sectors highlighting the present favorable hiring surroundings for Georgians,” Butler stated in an announcement.

The state launched the figures Thursday. They’re adjusted to cancel out seasonal fluctuations.

The nationwide unemployment charge rose to three.7% in October from 3.5% in September. That’s nonetheless down from 4.6% a yr in the past.

About 3,800 Georgia staff filed for brand new unemployment advantages within the week that ended Nov. 12.

The general variety of individuals amassing state unemployment was about 23,000 within the week that ended Nov. 5.