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Thursday, October 31, 2024

Unemployment claims trending down in Georgia as economy bounces back

Georgia unemployment

State officials are optimistic for Georgia's economic future. | Canva

State officials are optimistic for Georgia's economic future. | Canva

Unemployment claims in Georgia are continuing to trend down as jobs become more widely available and workers are incentivized to return to the workforce. 

A portion of what is driving down the unemployment claims is that a little more than a month ago, Gov. Brian Kemp pulled the state out of federal unemployment benefits that were provided those seeking work an additional $300 per week on top of the state contribution, Peach Tree Times reported. 

However, it isn't the main driver. Georgia's unemployment rate has decreased for 13 straight months, sitting at 3.7% percent for July, according to the state's Department of Labor. In February, the unemployment rate was 4.8%, the U.S. Department of Labor reported

"With nearly 84,000 jobs added in the last two months and the lowest unemployment rate of the ten most populous states, Georgia's economic momentum continues to lead the nation," Kemp said in an Aug. 20 in a news release. "In the industry sectors of trade, transportation, utilities and business services, Georgia now has more jobs than prior to the pandemic, with restaurants and hotels also adding over 15,000 jobs since June."

The governor's office said employers have added 204,000 jobs since July 2020.

The Atlanta Journal-Constitution reported that, although Georgia saw a slight increase recently in the number of weekly unemployment claims, the long-term trends are a more important figure. Those numbers have been consistent trending in a positive direction as they decrease.

Unemployment numbers are trending down and the economic growth is trending up, but despite these positive indicators, demand for food stamps remains high in the state, The Atlanta Journal-Constitution reported. 

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