Metro Valdosta’s Unemployment Rate Rises to 7.7% in October
Staff Report From Valdosta CEO
Monday, December 2nd, 2013
The Georgia Department of Labor announced today that metro Valdosta’s unemployment rate increased to 7.7 percent in October, up three-tenths of a percentage point from 7.4 percent in September. The rate was 8.3 percent in October a year ago.
Because of the federal government shutdown, no states were allowed to publish local labor market data for September. During the interim, the rate for Valdosta fell from 7.9 percent in August to 7.4 percent for September.
The rate rose in October primarily for two reasons – an increase in new layoffs and an increase in the number of unemployed residents.
The number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, increased to 550, up by 111, or 25.3 percent, from 439 in September. Claims were filed in several sectors, led by retail trade, arts, entertainment and recreation, and administrative and support services. There were 663 claims in October 2012.
The number of unemployed people in Valdosta increased to 5,093, up by 155 from 4,938 in September. There were 5,616 unemployed in October 2012.
While the rate rose, the number of jobs increased to 54,300, up by 500, or 0.9 percent, from 53,800 in September. Most of the jobs were added in the service-related industries such as trade and transportation, along with manufacturing and construction.
And, over the year, the number of jobs was up by 200, or 0.4 percent, from 54,100 in October 2012. Most of the jobs were added in manufacturing and construction.
The labor force, which is the number of people employed plus those unemployed but actively looking for work, declined by 454 to 66,085 in October from 66,539 in September. The labor force was down by 1,944 from 68,029 in October 2012.
Metro Athens had the lowest area jobless rate at 5.8 percent, while the Heart of Georgia-Altamaha region had the highest at 10.9 percent.
Meanwhile, Georgia’s seasonally adjusted unemployment rate for October was 8.1 percent, down from 8.3 percent in September. The rate was 8.8 percent in October a year ago.