(The Center Square) — Georgia officials said Thursday the state’s October unemployment rate remained lower than the national rate, news that follows a new finding that nearly half a million Georgians have dropped out of the workforce.
While Georgia’s seasonally adjusted unemployment rate of 2.9% was lower than the national unemployment rate of 3.7%, it was slightly higher than last month’s rate of 2.8% but down from last October’s 3.4% rate.
Peach State officials said the number of employed Georgians and the size of the state’s labor force decreased. However, job numbers also increased from September, reaching an all-time high, officials said.
The state pulls its numbers from different sources, accounting for the seeming discrepancy in job and employment figures.
“Although Georgia’s unemployment rate went up slightly from September, the rate of job creation still far exceeds those in the workforce looking for employment,” Georgia Labor Commissioner Mark Butler said in a release. “We must continue to encourage jobseekers to join the workforce and take advantage of the incredible job opportunities we are seeing.
“We are starting to see some churn in the employment numbers with some isolated layoff events offsetting some of the all-time highs we have experienced in the technology, healthcare, and transportation sectors,” Butler added. “However, we are still setting records in multiple sectors highlighting the current favorable hiring environment for Georgians.”
Meanwhile, a new Georgia Center for Opportunity analysis found 454,100 Georgians are not in the labor force and have effectively given up on work. The number does not include retirees, students or full-time caregivers.
A state Department of Labor spokeswoman declined to comment to The Center Square on the report.
Georgia’s seasonally adjusted unemployment rate in September stood at 2.8% for the third consecutive month. The rate is down slightly from 3.2% in January and 3.5% in September 2021.