Georgia Employment Booms: Jobs and Labor Force Hit New Records

Staff Report From Georgia CEO

Friday, June 21st, 2024

Georgia Labor Commissioner Bruce Thompson announced today that Georgia's May unemployment rate was 3.2, up one-tenth from a revised 3.1 percent in April. The unemployment rate was eight-tenths lower than the national unemployment rate.

“Confidence in Georgia’s job market isn’t the only thing hitting all-time highs – a record number of Georgians have returned to the workforce as well,” said Commissioner Bruce Thompson. “Despite national economic challenges and inflation, Georgia’s businesses are stepping up and creating more opportunities for hardworking Georgians to secure high-quality jobs.”

Jobs were up by 9,200 (0.2%) over the month and up by 73,900 (1.5%) over the year to 4,973,700, an all-time high. 

The sectors with the most over-the-month job gains included Local Government, 3,200; Accommodation and Food Services, 2,700; Health Care and Social Assistance, 2,300; Retail Trade, 1,800; and Wholesale Trade, 700. 

Jobs were down in State Government, -1,600; Durable Goods, -1,500; and Arts, Entertainment, and Recreation, -1,300.

Jobs were at an all-time high in Private Education and Health Services, 680,300, and Leisure and Hospitality, 528,700.

The sectors with the most over-the-year job gains included Health Care and Social Assistance, 23,500; Local Government, 15,200; Accommodation and Food Services, 13,900; Professional, Scientific, and Technical Services, 8,900; and Finance and Insurance, 7,000.

Jobs were down in Transportation and Warehousing, -11,300; Information, which includes Motion Picture and Sound Recording Industries, -9,700; and Administrative and Support Services, -8,700.

The labor force was up by 18,768 to 5,375,888, an all-time high, and was up by 74,803 over the past 12 months. The labor force participation rate was up from 61.5 percent to 61.6 percent. 

The number of employed was up by 14,311 to 5,205,912, an all-time high, and was up by 73,518 over the past 12 months. The employment-to-population ratio was up from 59.6 percent to 59.7 percent.

The number of unemployed was up by 4,457 to 169,976 and was up by 1,285 over the past 12 months.

Initial claims were down by 1,518 (-7%) over the month to 20,034 in May.  Initial claims were down by 3,968 (-16%) over the year.