Metro Valdosta’s Unemployment Rate Rises to 7.3%

Staff Report From Valdosta CEO

Thursday, March 13th, 2014

The Georgia Department of Labor announced today that Metro Valdosta’s unemployment rate increased to 7.3 percent in January, up three-tenths of a percentage point from 7.0 percent in December. The rate was 8.7 percent in January a year ago.

The rate rose primarily because the number of jobs in Metro Valdosta decreased to 53,700, down by 400, or 0.7 percent, from 54,100 in December. Most of the losses came in retail trade (300) and local government (100). Although the metro area lost jobs in January, the loss was less than the average January loss of 800 jobs for the last five years.

And, the number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, increased to 709, up by 69, or 10.8 percent, from 640 in December. Most of the rise in claims came in arts, entertainment and recreation. There were 849 claims in January 2013.

While the number of jobs decreased over the month, it increased by 1,200, or 2.3 percent, since January 2013, when there were 52,500 jobs. Most of the annual gains came in trade, transportation, and warehousing (700), the goods-producing sector (300), which includes manufacturing and construction, and state government (100.

Metro Athens had the lowest area jobless rate at 5.4 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.

Metro Athens had the lowest area jobless rate at 5.4 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.