July Jobless Rate Lowest Since 2008
According to the latest Georgia Department of Labor data, in July, Georgia saw a continued decline in its seasonally adjusted unemployment rate, which fell to 6.0%, down from 6.1% in June, and much less than the 7.2% reported in July 2014. The Atlanta Business Chronicle notes comments on the latest data from State Labor Commissioner Mark Butler, who said, “It’s been more than seven years since Georgia’s unemployment rate was this low, and the credit belongs to our employers who continue to create jobs and put people to work.” Butler further noted that 89,400 additional jobs were added in the state from July 2014 to July 2015, and that in July 77,000 new jobs were listed on the state’s new site EmployGeorgia.com. From June to July, the state added 4,600 jobs for a total of 4,252,200 jobs statewide. Of those new jobs, 4,300 local government jobs were added. There were also 3,100 new business and professional services jobs, 2,800 retail jobs, and 1,700 leisure and hospitality jobs. However, there was job loss in some sectors over the month. The state government lost 2,400 jobs, while educational services lost 2,100 jobs, and the finance and insurance sector saw a 1,100-job decline.
What This Means For Small Businesses
Georgia’s small business owners should see the latest jobs report as a positive indication that the state’s economy is headed in the right direction. However, the data show that job growth is varied depending on sector, indicating that small businesses in some sectors may face additional challenges in growing in Atlanta and other parts of the state. Still, Georgia’s overall economic news appears positive, suggesting the state’s small businesses have reason to be optimistic.
Additional Reading
NFIB previously noted Atlanta’s unemployment rate, which has also improved since the recession.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.
