Georgia’s seasonally adjusted October unemployment rate was 3.4 percent, the same as September’s revised rate.
The Peach State’s unemployment rate increased from the 3.1 percent rate a year ago. However, it was below the national rate of 3.9 percent.
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Women’s employment increased markedly from June to July, but the total number of employed working-aged men actually dropped in that same time span according to a July jobs report released Friday.
There were 170,000 fewer employed men in July than June, whereas 349,000 more women were employed in July, according to Yahoo Finance. Women’s unemployment dipped to 3.1% in July from 3.3% in June while the same figure for men remained steady at 3.2% from June, the Bureau of Labor Statistics’ July 2022 Employment Situation report found.
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One legacy of the COVID-19 pandemic could be the devastation it brought to the American worker by disconnecting millions from the workforce.
New research estimates that 3 million workers plan to remain permanently sidelined over concerns of physical illness or physical impairment due to COVID-19.
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The Labor Department’s official unemployment rate—the most well-known gauge of the labor market’s health—counts as unemployed only those who aren’t working but are actively seeking a job.
Yet there is very little that we can infer from the jobless rate about the health of the economy. The unavoidable conclusion is that the only reason investors follow the calculation is because both Washington’s politicians and the Federal Reserve are expected to react to it.
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