Georgia Unemployment Rate Drops to All-Time Low of Three Percent
Friday, June 17th, 2022
Georgia Labor Commissioner Mark Butler announced on Thursday that Georgia’s May unemployment rate hit an all-time low of 3 percent while Georgia's number of jobs continued to climb to an all-time high of 4,782,400, up 18,100 from April to May and up 244,100 over the year. Georgia’s unemployment rate was six-tenths of a percent lower than the national May 2022 unemployment rate of 3.6 percent.
“As the state continues to experience a very tight labor market, as evidenced by our low unemployment rate, our focus has been on encouraging more individuals to re-enter the workforce, ” said Commissioner Butler. “Unless those who have chosen not to work decide they want to re-enter the workforce or more people move into the state, additional workers will be scarce.”
The state saw a new all-time high number of employed Georgians of 5,124,286, up 17,570 in May. The labor force was at an all-time high of 5,281,828, up 14,241 over the month, and the number of unemployed was down 3,329 to 157,542, the lowest figure since April 2001’s 155,311.
“We have seen wages increase at an accelerated rate as employers compete for talent in the workplace,” said Commissioner Butler. “As summer vacations ramp up, and with it more temporary jobs, we will continue to see ‘Please be patient’ signs as employers struggle to fill vacancies.”
In April, Georgia had the second lowest unemployment rate (3.1%) among the top ten most populated states behind Florida who had a rate of 3 percent. Neighboring states posted similar unemployment rates to Georgia’s in April with North Carolina’s rate of 3.4%, Tennessee’s rate of 3.2%, South Carolina’s rate of 3.3%, and Alabama’s rate of 2.8%.
The sectors with the most over-the-month job gains in May included Accommodation and Food Services, 5,400, Arts, Entertainment and Recreation, 3,100, Educational Services, 3,100, Durable Goods Manufacturing, 1,500, Transportation and Warehousing, 1,500, Specialty Trade Contractors, 1,400, Administrative and Support Services, 1,400, and Local Government, 1,000.
Job numbers were at an all-time high in Trade and Transportation, 1,012,000, including the Transportation and Warehousing sector, 271,800, and the Wholesale Trade sector, 222,500, in Financial Activities, 268,000, in Professional and Business Services, 787,400, including the Administrative and Support Services sector, 379,100, and the Professional, Scientific, and Technical Services sector, 317,200, and in Education and Health Services, 626,900, including the Health Care and Social Assistance sector, 529,400.
The sectors with the most over-the-year job gains included Accommodation and Food Services, 38,000, Administrative and Support Services, 32,600, Transportation and Warehousing, 21,800, Retail Trade, 21,400, Professional, Scientific, and Technical Services, 21,400, Health Care and Social Assistance, 17,800, Wholesale Trade, 12,600, and Durable Goods Manufacturing, 11,400.
There are over 227,000 jobs listed online at EmployGeorgia.com, resulting in a minimum of over 310,000 unfilled positions. Market salaries for the jobs listed on Employ Georgia range from $24,000 to $105,000, showing a median salary of $45,000.
Employers with over 1,000 job postings included United Health Group, 3,600, Wellstar Health System, 1,600, Walmart, 1,200, and Anthem Blue Cross, 1,000.
Industries with over 10,000 job postings included Health Care, 33,000, Manufacturing, 21,000, Finance and Insurance, 17,000, Retail Trade, 16,000, Accommodation and Food Services, 16,000, Professional, Scientific & Technical Services, 16,000, and Transportation and Warehousing, 11,000.
Initial claims were down 673 (4%) from April to 16,750 in May. Over the year initial claims were down 91,494 (85%).