Metro Valdosta’s Unemployment Rate Declines to 5.4% in July
Staff Report From Valdosta CEO
Thursday, August 25th, 2016
The Georgia Department of Labor announced today that Metro Valdosta’s unemployment rate for July was 5.4 percent, down three-tenths of a percentage point from 5.7 percent in June. The rate in July 2015 was 6.6 percent.
The rate fell as the number of employed residents grew by 572 to 60,851. At the same time, the number of unemployed residents fell by 160 to 3,469. The labor force, which consists of employed people and those who are unemployed but actively looking for jobs, grew by 412 to 64,320 in July.
The number of jobs increased by 300, or 0.5 percent, to 56,100. Most of the job gains came in the service industries, which includes retail trade and leisure and hospitality. The goods-producing sector, which includes manufacturing and construction, also added some jobs.
And, over the year, Valdosta gained 1,600 jobs, a 2.9 percent growth rate, up from 54,500 in July 2015. Most of the job gains came in the service industries, including trade, transportation and warehousing, along with state and local government.
The number of initial claims for unemployment insurance rose by 26, or 9.4 percent, to 302 in July. Most of the increase came in retail trade and administrative and support services. However, over the year, claims were down by 102, or 25.2 percent, from 404 in July 2015.
Metro Gainesville had the lowest area jobless rate at 4.6 percent, while the Heart of Georgia-Altamaha region had the highest at 7 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for July was 5 percent, down from 5.1 percent in June. It was 5.7 percent in July 2015.
Job seekers and employers are encouraged to use the GDOL’s online job listing service, www.employgeorgia.com to search for jobs or recruit new employees. In July, 587 new job openings in Valdosta were posted on Employ Georgia. Throughout the state, 69,064 new job openings were posted.