State Job Growth Continues To Be Uneven Across Sectors
The latest unemployment data from Georgia’s Department of Labor paints a mixed portrait for the state’s jobs outlook. Although unemployment has fallen 1% from April 2014 to April 2015, the current unemployment rate of 6.3% is unchanged since February despite continuing declines in the national unemployment rate. Additionally, the state’s unemployment rate of 6.3% is well above the national rate of 5.4%.
The Atlanta Journal-Constitution provides a more detailed look at the latest state jobs data, noting that the state added 7,400 new jobs in April for a total of 4,247,500 statewide. In the last year, Georgia has seen the addition of 122,000 jobs and a significant drop in unemployment. April job growth was seen in a variety of sectors including education, healthcare, manufacturing of nondurable goods, and professional and business services. However, several sectors experienced job losses, including maintenance, finance, state government, and wholesale trade.
Defending the state’s job market, State Labor Commissioner Mark Butler said the continued increase in jobs over the past year “has led to an increased demand for skilled employees,” the Atlanta Business Chronicle reports.
What This Means For Small Businesses
Though numbers show Georgia has made clear economic gains in the past year, the state’s economic recovery is still lagging compared to the US as a whole. This suggests small businesses in Georgia continue to face stronger headwinds than their peers in most of the country.
Additional Reading
NFIB has previously detailed the issues it expects to be most important for Georgia’s small businesses in 2015, including unemployment.
