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Atlanta's Unemployment Rate Inches Up Slightly in January

Staff Report From Georgia CEO

Friday, March 15th, 2024

Georgia Labor Commissioner Bruce Thompson said Thursday that Atlanta recorded an unemployment rate of 3.0 percent in January, up one-tenth from a revised 2.9 percent in December. A year ago, the rate was 3.2 percent.
 
“Georgia's January unemployment rate hit its lowest point in over a year,” said Commissioner Thompson. “This speaks volumes about our state's economic resilience and ability to lead when times get tough. Regionally, we are seeing a slight seasonal uptick in January unemployment, but Georgia continues to be forward-thinking in its policy decisions and focus on sustainable economic growth. While we may see some softening of the economy over the coming months, Georgia is in a better position than most to overcome any challenges heading our way.”

The labor force increased in Atlanta by 9,390 and ended the month with 3,243,190. This number increased by 37,799 when compared to January 2023.

The number of employed increased by 3,405 to 3,144,823 in January.  From January 2023 to January 2024, the number of employed was up by 43,539.

The number of unemployed was up by 5,985 to 98,367 in January. From January 2022 to January 2023, the number of unemployed was down by 5,740.

Atlanta ended January with 3,043,000 jobs. Jobs were down 52,000 (-1.7%) over the month and up 23,700 (0.8%) over the year. Over the previous three years, the December-to-January average not seasonally adjusted job loss was -62,200.

From December to January of each year, not seasonally adjusted area jobs figures typically decline in seasonal sectors such as Trade and Transportation, Administrative and Support Services, and Leisure and Hospitality. 

Over-the-month, jobs were down in Transportation and Warehousing, -14,700; Retail Trade, -10,200; Administrative and Support Services, -5,800; Accommodation and Food Services, -3,000; and Durable Goods Manufacturing, -2,700.

The sectors with the most over-the-year job gains included Health Care and Social Assistance, 18,100; Accommodation and Food Services, 9,400; Local Government, 7,800; Arts, Entertainment, and Recreation, 6,400; and Professional, Scientific, and Technical Services, 6,100.

Over-the-year, jobs were down in Information, which includes Motion Picture/Sound Recording, -18,300; Administrative and Support Services, -15,200; Transportation and Warehousing, -12,000; and Wholesale Trade, -2,300.

The number of initial unemployment claims went up by 5,164 (45%) over-the-month to 16,760 in January. Initial claims were down by 1,491 (-8%) over-the-year. Claims over-the-month were up in Manufacturing, 1,277; Administrative and Support Services, 693; and Transportation and Warehousing, 600.