Atlanta, Georgia – The most recent employment statistics published by the Georgia Department of Labor (GDOL) demonstrate that Georgia is keeping a strong economic performance. From October’s 3.6%, the state’s unemployment rate slightly climbed to 3.7%, in November. Georgia still comfortably sits below the average national unemployment rate, which is higher by five-tenths.
“Despite a slight uptick in unemployment this November, Georgia’s economy remains among the strongest in the nation,” said GDOL Emergency Interim Successor Louis DeBroux.
“We’ve added 85,000 workers to the labor force and created nearly 46,000 new job opportunities over the past 12 months, bringing us closer to the milestone of five million jobs. With unemployment still well below the national average, Georgia further establishes itself as the premier state for businesses to thrive and families of hardworking Georgians to prosper.”
Though the annual trend is generally good, the month-to-month employment numbers showed a decline; 2,000 jobs dropped to provide the current total of 4,983,400 working people. Particularly industries such as Health Care and Social Assistance, Finance and Insurance, Arts, Entertainment and Recreation, Transportation and Warehousing, Local Government experienced notable job gains. These increases highlight continuous expansion in important spheres of Georgian economy.
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Some industries suffered, though; Accommodation and Food Services, Administrative and Support Services, Retail Trade, Durable Goods Manufacturing, and Wholesale Trade all saw declines. Despite these challenges, employment in the Government and Private Education and Health Services sectors established record highs, proving resilience and ability for recovery in areas of the economy.
Leading with notable employment growth on a year-over-year basis were the Health Care and Social Assistance sector; followed closely by Accommodation and Food Services, Local Government, Professional, Scientific, and Technical Services, and State Government. On the other hand, sectors such Wholesale Trade and Administrative and Support Services witnessed significant job losses.
The workforce of the state also varied somewhat. With a 3,000 to 5,414,644 decrease, November marked the first declining labor force count since November 2023. The labor force has grown positively annually by 84,664, despite a monthly drop.
Employment numbers are also somewhat down by 5,217 from the month before, coming out to be 5,215,239, although still displayed an annual rise of 57,184. Rising to 198,405, the highest level since July 2021, the figure of unemployed people shows an annual increase of 27,480.
With a year-over-year drop as well, initial jobless claims in November dropped dramatically, by 9,323 over the month, implying less layoffs and a steady job market.
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Ultimately, even although Georgia’s November economic landscape showed some volatility with a little increase in unemployment and monthly job losses in some sectors, the overall the trend is still good. The state keeps generating significant employment possibilities, therefore confirming its leadership in terms of stability and economic progress. Especially for companies thinking of Georgia as their base and job seekers, this continuous development points to a bright future for Georgia.
