Georgia jobless rate continues to drop
Georgia’s jobless rate in July fell to its lowest level in a decade.
The Georgia Department of Labor said Thursday that the state’s workforce contracted due to school starting back in July. This contraction cut the unemployment rate by a tenth of a percent from the previous month to 4.7 percent last month which is seasonally-adjusted unemployment rate decreased for the sixth consecutive month.
July’s seasonally adjusted jobless rate in Georgia was the lowest since August 2007.
Georgia employers added more jobs than other states at a rate of 50 percent growth. This past year, employers added 96,200 jobs, or 2.2 percent exceeding the national average of 1.5 percent.
“Our rate continues to decline as more Georgians go back to work,” Georgia Labor Commissioner Mark Butler said. “It’s great to see our economy growing.”
Although job growth has increased, Georgia’s unemployment rate is still above the U.S. rate at 4.7 percent while the nation’s is at 4.3 percent.
From June to July, Georgia lost 14,100 jobs, a 0.3 percent decline, which decreased the total number of jobs to 4,479,800. The average June-to-July job increase for the past three years was 10,600.
“In June, we more than doubled our jobs,” Butler said. “Due to the fact that a lot of summer jobs are held by students, it’s not surprising to see the July decline in jobs, especially with the earlier school start dates this year.”