Atlanta Unemployment Rate Holds Steady at 3.0% in February
Friday, March 29th, 2024
Georgia Labor Commissioner Bruce Thompson said Thursday that Atlanta recorded an unemployment rate of 3.0 percent in February, unchanged from a revised 3.0 percent in January. A year ago, the rate was 3.3 percent.
“Georgia continues to thrive, fueled by a powerhouse workforce and savvy economic investments,” said Commissioner Bruce Thompson. “For the past 48 months and counting, Georgia has continued to outshine the nation with low unemployment and high-quality jobs. Our regional unemployment numbers are a testament to this remarkable track record of success and Georgia’s ability to drive economic opportunity across virtually every corner of the state.”
The labor force increased in Atlanta by 23,487 and ended the month with 3,269,044, an all-time high. This number increased by 41,614 when compared to February 2023.
The number of employed increased by 23,610 to 3,170,843 in February, an all-time high. From February 2023 to February 2024, the number of employed was up by 48,622.
The number of unemployed was down by 123 to 98,201 in February. From February 2023 to February 2024, the number of unemployed was down by 7,008.
Atlanta ended February with 3,061,300 jobs. Jobs were up 13,600 (0.5%) over the month and up 26,000 (0.9%) over the year.
Over-the-month, jobs were up in Administrative and Support Services, 2,800; Private Educational Services, 2,300; Accommodation and Food Services, 2,000; State Government, 1,800; and Local Government, 1,500. Jobs were down in Wholesale Trade, -1,900; Retail Trade, -1,200; and Transportation and Warehousing, -600. Jobs were at an all-time high in Government, 358,300.
The sectors with the most over-the-year job gains included Health Care and Social Assistance, 16,400; Local Government, 8,200; Accommodation and Food Services, 8,100; Arts, Entertainment, and Recreation, 6,700; and Finance and Insurance, 4,900.
Jobs were down in Information, which includes Motion Picture/Sound Recording, -20,600; Administrative and Support Services, -11,000; Transportation and Warehousing, -5,300; and Wholesale Trade, -4,800.
The number of initial unemployment claims went down by 3,239 (19%) over-the-month to 13,521 in February. Claims over-the-month were down in Manufacturing, -2,037; Construction, -388; and Transportation and Warehousing, -259.
Initial claims were up by 643 (5%) over-the-year. Claims over-the-year were up in Trade, 309; Accommodation and Food Services, 209; and Professional, Scientific and Technical Services, 195.