Georgia’s unemployment rate increased for the fourth consecutive month as the number of individuals entering the workforce surpassed the number of available jobs. The state’s jobless rate reached 3.6% in August, up from 3.4% in July and exceeding the 3.2% rate from August 2023. A significant rise in the number of unemployed Georgians, totaling over 190,000 individuals, marked the highest level in three years. Despite a gradual increase in the employed population, with record numbers each month this year, the surge in available job seekers has outpaced job creation.
An employer payroll survey, a key indicator for economists, demonstrated the weakening job market. In August, Georgia employers reported approximately 4.98 million workers, remaining relatively stable compared to July but showing an increase of 70,000 workers from August 2023. The Georgia Department of Labor released these adjusted figures, accounting for typical seasonal fluctuations.
On a national scale, the unemployment rate slightly decreased to 4.2% in August from 4.3% in July, but it was notably higher than the 3.8% rate recorded a year prior. In the week ending on September 14, around 5,100 Georgia workers applied for new unemployment benefits, while approximately 29,000 individuals were receiving state unemployment benefits as of the week ending on September 7, maintaining consistency with recent trends.
