Georgia Unemployment Rate Remains Significantly Lower than National Average
Friday, November 18th, 2022
Georgia Labor Commissioner Mark Butler announced today that Georgia's October unemployment rate was 2.9 percent, eight-tenths of a percent lower than the national October 2022 unemployment rate of 3.7 percent. Georgia’s October rate was half a percent lower than last year’s October rate. Additionally, job numbers reached another all-time high, increasing by 3,700 from September.
“Although Georgia's unemployment rate went up slightly from September, the rate of job creation still far exceeds those in the workforce looking for employment,” said Commissioner Butler. “We must continue to encourage jobseekers to join the workforce and take advantage of the incredible job opportunities we are seeing.”
Job numbers increased 3,700 from September to October to an all-time high of 4,808,800. Job gains included opportunities in Arts, Entertainment and Recreation, 1,600, Finance and Insurance, 1,500, Local Government, 1,400, Health Care and Social Assistance, 1,200, and Professional, Scientific, and Technical Services, 800. Job numbers were at an all-time high in Financial Activities, 272,200, and in Education and Health Services, 637,600.
“We are starting to see some churn in the employment numbers with some isolated layoff events offsetting some of the all-time highs we have experienced in the technology, healthcare, and transportation sectors,” said Commissioner Butler. “However, we are still setting records in multiple sectors highlighting the current favorable hiring environment for Georgians.”
The sectors with the most over-the-year job gains included Accommodation and Food Services, 31,400, Health Care and Social Assistance, 23,900, Administrative and Support Services, 22,900, Professional, Scientific, and Technical Services, 19,800, Wholesale Trade, 16,500, and Transportation and Warehousing, 14,900.
In October, the number of employed residents was down 9,527 to 5,166,794 while the labor force decreased by 5,573 to 5,268,918. The number of unemployed was up 3,954 to 152,124, the first over the month increase since April 2020. However, the change in employment from September to October remained low at less than .2 percent.
There are over 165,000 jobs listed online at EmployGeorgia.com. Market salaries for the jobs listed on Employ Georgia range from $23,000 to $99,000, showing a median salary of $42,000.
Employers with over 1,000 job postings included Wellstar Health System, 1,400, Home Depot, 1,300, Piedmont Healthcare, 1,200, and Amazon, 1,000.
Industries with over 10,000 job postings included Health Care, 30,000, Retail Trade, 16,000, Accommodation and Food Services, 14,000, Manufacturing, 12,000, and Finance and Insurance, 10,000.
Initial claims were down 651 (3%) from September to 20,919 in October. Over the year, initial claims were down 6,391 (23%).
For personalized assistance, employers can reach Georgia Department of Labor (GDOL) staff at https://dol.georgia.gov/
For more information on jobs and current labor force data, visit Georgia LaborMarket Explorer to view a comprehensive report.