Atlanta Unemployment Rate Rises to 7.3% in May
Thursday, June 26th, 2014
The Georgia Department of Labor announced today that Metro Atlanta’s unemployment rate increased to 7.3 percent in May, up eight-tenths of a percentage point from 6.5 percent in April. The rate was 8.0 percent in May a year ago.
The rate increase was seasonal, as new graduates entered the labor force looking for full-time work, while other students searched for part-time summer jobs. The labor force rose by 24,421, up to 2,752,814 in May from 2,728,393 in April.
While the rate rose, the number of jobs increased by 19,700, or 0.8 percent, to 2,465,200 in May from 2,445,500 in April. The increase is significantly larger than the 10,100 average gain between April and May over the past three years. Most of the May job gains came in professional and business services, 6,900; leisure and hospitality, 4,700; trade, transportation, and warehousing, 3,600; financial services, 2,200; construction, 1,800; manufacturing, 1,000; education and health services, 500; information services, 300; and other services, 400. Government lost 1,700 jobs.
The over-the-year job growth is the largest May-to-May increase since 2006. The number of jobs increased by 59,400, or 2.5 percent, from 2,405,800 in May 2013. The job gainers were in professional and business services, 20,100; trade, transportation, and warehousing, 14,600; leisure and hospitality, 9,400; construction, 7,100; education and health services, 4,800; financial services, 2,800; manufacturing, 2,200; and information services, 500. Government lost 1,400 jobs.
Also, there were 15,581 new claims for unemployment insurance filed in May, an increase of 141, or 0.9 percent, from 15,440 in April. Most of the increase in claims came in accommodations and food services and health care. There were 21,677 claims filed in May 2013.
Metro Athens had the lowest area jobless rate at 5.7 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for May was 7.2 percent, up from 6.9 percent in April. The rate was 8.4 percent in May a year ago.
Local area unemployment data are not seasonally adjusted. Georgia labor market data are available at www.employgeorgia.com.