Business & Tech
Georgia Unemployment Rate Dips to 8.7 Percent
Georgia Labor Commissioner Mark Butler said a "significant reduction in layoffs" attributed to the decline.
Georgia's unemployment rate took a slight dip in August, according to the Georgia Department of Labor.
The rate dropped to 8.7 percent last month, down just a hair from 8.8 percent in July. Last month's preliminary figure is also lower than it was a year ago — 9 percent in August 2012.
Georgia Labor Commissioner Mark Butler said the decrease could be attributed to the state witnessing a "significant reduction in layoffs," the fewest since September 2007.
He also said the state saw a "small increase in the number of jobs."
August brought 35,503 new layoffs, a 34.4 percent drop from 54,106 layoffs in July.
The state notes the decline was see in the manufacturing industry where workers were temporarily laid off in July, but returned to work in August.
Fewer claims were also seen in the construction, trade, and administrative and support services arenas.
Other points noted by GDOL:
- the number of initial claims dropped by 10,222, or 22.4 percent, from 45,725 in August 2012. Reductions were mostly in manufacturing, construction, trade, and administrative and support services.
- There were 4,045,100 jobs in August, up by 3,000 from 4,042,100 in July. The government sector added 10,700 jobs, as education workers returned to the public schools after the summer vacation. However, that small gain was offset by the loss of 7,700 private sector jobs, mostly in professional and business services
- Georgia gained 82,300 jobs, or 2.1 percent, since August 2012 when there were 3,962,800 jobs. Those gains were evident in several sectors, including: professional and business services at 28,600; leisure and hospitality at 21,600; education and health services at 19,100; trade and transportation at 16,700; construction at 5,100; financial services at 3,300; and information services at 2,000. The government sector lost 8,900 jobs in the past year.
Across the state, there were 176,300 long-term unemployed workers, which is a drop from 3,600, or 2.0 percent, from 179,900 in July. GDOL notes this was the fewest since 168,200 in December 2009.
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