Georgia’s Unemployment Holds Steady for the Holidays
Thursday, December 21st, 2023
Georgia Labor Commissioner Bruce Thompson announced today that Georgia's November unemployment rate was 3.4 percent, unchanged from a revised 3.4 percent for the third consecutive month. The unemployment rate was three-tenths lower than the national unemployment rate.
“This holiday season, the greatest gift we can give Georgians is a future filled with opportunity,” said Commissioner Bruce Thompson. “With record-high job numbers, a thriving economy that stands among the nation's best, and a workforce eager to embrace new opportunities, Georgia is poised to enter the new year with hope and boundless possibilities for all."
Jobs were up by 14,300 (0.3%) over the month and up by 103,700 (2.1%) over the year to 4,952,400, an all-time high.
Job numbers were at an all-time high in Private Education and Health Services, 677,700, Leisure and Hospitality, 534,100, and Financial Activities, 284,800.
The sectors with the most over-the-month job gains included Health Care and Social Assistance, 2,300; Finance and Insurance, 2,100; Professional, Scientific, and Technical Services, 2,000; Accommodation and Food Services, 1,700; and Local Government, 1,600.
Over-the-month, jobs were down in Transportation and Warehousing, -2,000, and Retail Trade, -800.
The sectors with the most over-the-year job gains included Health Care and Social Assistance, 31,500; Accommodation and Food Services, 30,100; Local Government, 8,800; Durable Goods Manufacturing, 6,600; and Real Estate, Rental, and Leasing, 6,100.
Over-the-year, jobs were down in Transportation and Warehousing, -9,700, and Administrative and Support Services, -7,800.
The labor force was up by 11,263 to 5,360,517, an all-time high, and was up by 126,963 over the past 12 months. The labor force participation held at 61.6 percent and is up from 61.0 percent since the beginning of the year.
The number of employed was up by 9,755 to 5,176,059, an all-time high, and was up by 104,565 over the past 12 months. The employment-to-population ratio was unchanged at 59.5 percent.
Initial claims were up by 647 (3%) over the month to 22,316 in November. Initial claims were down by 3,202 (13%) over the year.