Metro Atlanta Sees Unchanged February Unemployment Rate
Friday, March 31st, 2023
Georgia Labor Commissioner Bruce Thompson said Thursday that Atlanta recorded an unemployment rate of 3.2 percent in February, unchanged from a revised 3.2 percent in January. A year ago, the rate was 3.1 percent. In February, Georgia also experienced all-time highs in both the labor force and the number of employed.
"Pro-growth policies that foster innovation and drive success are why Georgia remains the No. 1 state for business and a perennial powerhouse in talent development," said Commissioner Bruce Thompson. "Even with a slowing nationwide economy, communities across Georgia continue to thrive with low unemployment and high job growth."
The labor force increased in Atlanta by 22,268 and ended the month with an all-time high of 3,232,880. This number increased by 45,655 when compared to February 2022.
The number of employed increased by 21,741 to an all-time high of 3,129,469 in February from January. From February 2022 to February 2023, the number of employed was up by 42,489.
The number of unemployed was up by 545 to 103,411 in February. From February 2022 to February 2023, the number of unemployed was up by 3,166.
Atlanta ended February with 3,028,000 jobs. Jobs were up 15,600 (0.5%) over the month and up by 93,000 (3.2%) over the year. Jobs were at an all-time high in Private Education and Health Services, 401,300; Construction, 142,500; and Other Services, which includes Repair and Maintenance, and Personal Services, 107,200.
The sectors with the most over-the-month job gains included Accommodation and Food Services, 3,100; Wholesale Trade, 2,800; State Government, 1,800; Health Care and Social Assistance, 1,700; and Personal Services, 1,700.
The sectors with the most over-the-year job gains included Accommodation and Food Services, 22,400; Health Care and Social Assistance, 17,200; Professional, Scientific, and Technical Services, 10,200; Local Government, 6,100; Arts, Entertainment, and Recreation, 5,800; Real Estate, Rental, and Leasing, 5,200; and Wholesale Trade, 5,000.
Historically, claims increase every January due to temporary seasonal manufacturing shutdowns and the retail sector shedding workers hired for the holiday season. In February, initial unemployment claims decreased by 29% in metro Atlanta, dropping back to normal levels. When you compare February 2023 claims to February 2022, there was a slight increase of 56 claims.