Metro Valdosta’s Unemployment Rate Declines to 6.5% in February
Staff Report From Valdosta CEO
Thursday, March 26th, 2015
The Georgia Department of Labor announced today that Metro Valdosta’s unemployment rate for February was 6.5 percent, down two-tenths of a percentage point from 6.7 percent in January. The rate in February 2014 was 7.4 percent.
The rate declined as employers created more jobs and laid off fewer workers.
The number of jobs increased by 600, or 1.1 percent, to 55,300 in February from 54,700 in January. Most of the job gain came in state and local government and the goods-producing sector, which includes manufacturing and construction.
And, there was an over-the-year gain of 1,200 jobs, or 2.2 percent from 54,100 in February 2014. Most of the job gain was in trade, transportation and warehousing and the goods-producing sector, which includes manufacturing and construction.
There were 479, or 63.5 percent, fewer new claims for unemployment insurance filed in February, as the number decreased to 275 from 754 in January. Most of the decrease in claims came in manufacturing, arts, entertainment and recreation, construction, retail trade, and administrative and support services. Over the year, claims were down by 77, or 21.9 percent, from 352 filed in February 2014.
Metro Gainesville had the lowest area jobless rate at 5.1 percent, while the Heart of Georgia-Altamaha region had the highest at 8.1 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for February was 6.3 percent, down from 6.4 percent in January. It was 7.3 percent in February 2014.