Flat Unemployment Rate Underscores Main Street Georgia’s Labor Challenge

May 23, 2023

Small businesses are struggling to find qualified job applicants

Flat Unemployment Rate Underscores Main Street Georgia's Labor Challenge

NFIB State Director Hunter Loggins released the following statement today in response to Georgia’s latest jobless numbers, which found that the unemployment rate held steady at 3.1% last month for the ninth consecutive month: “Georgia’s low unemployment rate, which is a smidgen below the national average of 3.4%, is great news for workers, but it’s a mixed blessing for small businesses, which are struggling to find enough qualified applicants to fill the positions that are still available. “The latest NFIB Small Business Optimism Index found that labor quality had edged past inflation to rank as the No. 1 issue facing America’s small businesses. Owners are trying to fill vacant positions, with a seasonally adjusted 17% planning to create new jobs in the next three months. Our research found that 40% of owners had raised compensation in an effort to attract good job candidates, while a net 21% say they’ll raise compensation in the next three months. “Last month, Governor Kemp signed legislation aimed at finding and training workers to fill the tens of thousands of new jobs created by record-breaking economic development projects. Our members are eager to see the effects of this legislation, and we hope the General Assembly will continue to pass similar measures in the future.”

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Georgia

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