Valdosta’s Unemployment Rate Declines to 7% in February

Press release from the issuing company

Friday, March 28th, 2014

The Georgia Department of Labor announced Thursday that Metro Valdosta’s unemployment rate decreased to 7.0 percent in February, down four-tenths of a percentage point from 7.4 percent in January. The rate was 8.3 percent in February a year ago.

The rate declined because Valdosta employers created 300 new jobs and reduced the number of new layoffs by 50.4 percent.

The number of jobs increased to 54,000 in February, up 0.6 percent, from 53,700 in January. The job gains came mostly in trade, transportation, and warehousing. Over the year, the number of jobs increased by 1,100, or 2.1 percent, from 52,900 in February 2013. Most of the increase came in trade, transportation, and warehousing and state government.

There were 352 new claims for unemployment insurance filed in February, a drop of 357 from 709 in January. Most of the decline in claims came in arts, entertainment, and recreation, manufacturing, construction, and accommodations and food services. There were 440 claims in February 2013.

Metro Athens had the lowest area jobless rate at 5.1 percent, while the Heart of Georgia-Altamaha region had the highest at 9.7 percent.

Meanwhile, Georgia’s seasonally adjusted unemployment rate for February was 7.1 percent, down from 7.3 percent in January. The rate was 8.5 percent in February a year ago.