by T.A. DeFeo
Georgia labor officials touted a rosy economic picture as the number of jobs in the state continued to increase, though the number of employed Georgians declined.
The number of jobs in the state increased to a new all-time high of more than 4.8 million.
The number of unemployed Georgians decreased to its lowest number since January 2001. However, Georgia officials reported that the number of employed Georgians dropped to nearly 5.3 million in September.
“We are continuing to see strong job creation and demand for workers in Georgia,” Georgia Labor Commissioner Mark Butler said in an announcement. “We are seeing some of the best economic opportunities for job seekers that we have seen in years.”
A labor department spokeswoman told The Center Square that the difference in labor force estimates and job numbers is because they are from two separate surveys, which differ in concept and methodology.
Peach State officials said the September unemployment rate remained at 2.8% — an all-time low — for the third consecutive month. At the same time, the national unemployment rate stood at 3.5%.
According to the Federal Reserve Bank of St. Louis, Georgia’s seasonally adjusted labor participation rate stood at 62.1% in August and has dropped from 69.1% in January 2000 and 68.7% in August 2008. Since 2009, the state’s labor participation rate has topped out at 66% in March, April and May 2009, and it dropped to 59.4% in September 2020 amid the COVID-19 pandemic.
The news comes as the nation could soon be in a recession — if it is not already in one.
Last month, a WalletHub analysis found that while Atlanta’s unemployment rate has largely bounced back following the COVID-19 pandemic, two other cities in Georgia — Augusta and Columbus — are more affected by the nation’s ongoing economic woes.
Last week, Georgia Ports Authority officials warned that growth at state ports could moderate, another sign of a looming economic “correction.”
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T.A. DeFeo is a contributor to The Center Square.
Photo “Construction Workers” by Mikael Blomkvist.
