Job growth is on the rise and unemployment is at a historic low in Georgia. | Unsplash/Scott Graham
Job growth is on the rise and unemployment is at a historic low in Georgia. | Unsplash/Scott Graham
Job growth is high in the state of Georgia, with Gov. Brian Kemp announcing last week that the unemployment rate in October had dropped to 3.1%, which is the lowest in the state’s history. It is the 18th month in a row that the unemployment rate has dropped.
In a press release, Kemp reported that the Peach State has added more than 200,000 jobs over the course of the last year. Jobs in Georgia were up 21,000 from last month and 4.5% this year, amounting to a yearly total of 4,605,600 jobs. He added that 158,107 people have reported that they were unemployed, which is the lowest level since June 2001.
“Georgia's economy continues to outpace the rest of the nation with strong job growth, an all-time low unemployment rate, and the fewest unemployed Georgians in 20 years," Kemp said in the release. "As we pass 200,000 jobs added in the last year, we're not taking our foot off the gas. Thanks to our pro-business environment, unmatched workforce development assets, and low cost of doing business, companies from around the world are looking to relocate to the Peach State, and Georgia-grown businesses are hiring more workers and expanding operations.”
Online Athens reported that the Georgia unemployment rate is two-tenths of a percentage point lower than September, when the rate was 3.3%, and far below the national unemployment rate of 4.6%.
The Department of Labor released a full monthly report in which Commissioner Mark Butler said with continuous job growth over the past year, 90% of the jobs lost during the pandemic are back. Since May 2021 job growth has increased by 117,400. Transportation, warehousing and retail trade jobs have been reinstated; however, others continue to struggle like food services, local government, professional services and others.
Capital Beat reported that Georgia has been designated the “top state for doing business” eight years running by Area Development, which is a corporate site selection magazine. Kemp applauded the efforts of Georgians as the economy in the state continues to thrive.
According to Capital Beat, Georgia set economic development records despite the pandemic during the last fiscal year, with around $11 billion in new investments reported, a 46% increase over fiscal year 2020. The creation of 33,439 jobs around the state beat the previous yearly record by 5%.
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