Metro Valdosta’s Unemployment Rate Declines to 5.8% in October
Staff Report From Valdosta CEO
Monday, November 30th, 2015
The Georgia Department of Labor announced today that Metro Valdosta’s unemployment rate for October was 5.8 percent, down one-tenth of a percentage point from 5.9 percent in September. The rate in October 2014 was 6.9 percent.
The rate declined as employers created more jobs. The number of jobs in Valdosta increased by 1,000, or 1.9 percent, in October to 55,000. The job gains came mostly in the service-related industries, such as retail trade, transportation and warehousing, along with the goods-producing sector, which includes manufacturing and transportation.
Over the year, Valdosta lost 300 jobs, down from 55,300 in October 2014. Most of the job losses came in state government.
Also, the number of initial claims for unemployment insurance rose by 70, or 25.5 percent, to 344 in October. Most of the increase came in manufacturing, construction, health care and social assistance. Over the year, claims were up by 10, or 3 percent, from 334 in October 2014.
Metro Gainesville had the lowest area jobless rate at 4.7 percent, while the Heart of Georgia-Altamaha region had the highest at 7.3 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for October was 5.7 percent, down from 5.8 percent in September. It was 6.8 percent in October 2014.