Valdosta’s Unemployment Rate Declines to 7.0% in December
Press release from the issuing company
Friday, January 31st, 2014
The Georgia Department of Labor announced today that metro Valdosta’s unemployment rate decreased to 7.0 percent in December, down two-tenths of a percentage point from 7.2 percent in November. The rate was 8.4 percent in December a year ago.
The rate dropped primarily because the number of employed Valdosta residents increased in December to 61,153, up by 122. The gain was mostly due to seasonal hiring in retail trade, transportation and warehousing.
While the number of employed residents increased in December, the number of jobs in Metro Valdosta declined to 54,100, a loss of 500 jobs mostly in the service-related industries. However, the metro area gained 100 jobs, or 0.2 percent, since December 2012, when there were 54,000 jobs. Most of the job gains came in retail trade.
And, the number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, increased to 640, up by 48 or 8.1 percent, from 592 in November. The mostly seasonal layoffs were primarily in manufacturing, accommodations and food services, and construction. There were 651 claims in December 2012.
Metro Athens had the lowest area jobless rate at 5.2 percent, while the Heart of Georgia-Altamaha region had the highest at 10.2 percent.
Meanwhile, Georgia’s seasonally adjusted unemployment rate for December was 7.4 percent, down from 7.6 percent in November. The rate was 8.7 percent in December a year ago.
Local area unemployment data are not seasonally adjusted. Georgia labor market data are available at www.dol.state.ga.us.