Metro Atlanta’s Unemployment Rate Rises to 5.3%
Staff Report From Metro Atlanta CEO
Thursday, March 24th, 2016
The Georgia Department of Labor announced today that Metro Atlanta’s unemployment rate for February was 5.3 percent, up two-tenths of a percentage point from 5.1 percent in January. The rate in February 2015 was 6 percent.
The rate rose because the number of unemployed residents increased by 5,931, as the labor force grew by 20,305.
At the same time, the number of jobs increased by 7,700, or 0.3 percent, to 2,606,500 from 2,598,800 in January. Most of the increase came in professional and business services, 6,700; government, 2,800; and health care and social assistance, 2,400. The overall job gains were somewhat offset by losses in trade, transportation and warehousing and financial activities.
And, over the year, Atlanta gained 72,500 jobs, a 2.9 percent growth rate, up from 2,534,000 in February 2015 Most of the job gains came in trade, transportation and warehousing, 18,900; professional and business services, 15,400; and leisure and hospitality, 13,900.
The number of initial claims for unemployment insurance declined by 7,471, or 35.2 percent, to 13,753 in February. Most of the decrease came in manufacturing and construction, administrative and support services, accommodations and food services, and trade, transportation and warehousing. However, over the year, claims were down by 281, or 2 percent, from 14.034 in February 2015.
Metro Gainesville had the lowest area jobless rate at 4.6 percent, while the Heart of Georgia-Altamaha and River Valley regions had the highest at 7.1 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for February was 5.4 percent, unchanged from January. It was 6.2 percent in February 2015.