Metro Valdosta’s Unemployment Rate Declines to 5.1% in October

Staff Report From Valdosta CEO

Monday, November 28th, 2016

The Georgia Department of Labor announced that Metro Valdosta’s unemployment rate in October was 5.1 percent, down two-tenths of a percentage point from 5.3 percent in September. The rate in October 2015 was 5.6 percent.

As the rate declined, Valdosta employers continue to create new jobs and more people went to work.

The number of jobs increased by 500, or 0.9 percent, to 56,400. Most of the job gains came in the service industries, such as trade, transportation and warehousing, along with state and local government. The goods-producing sector, which includes manufacturing and construction, added 200 jobs.

Over the year, the area gained 600 jobs, a 1.1 percent growth rate. Most of the job gains came in the service industries, including trade, transportation and warehousing, along with state government.

The labor force increased by 342 to 64,193. The labor force consists of employed residents and those who are unemployed, but actively looking for jobs. While the number of employed residents increased by 451 to 60,937, the number of unemployed residents decreased by 109 to 3,256.  

The number of initial claims for unemployment insurance, a measure of new layoffs, rose by 89, or 40.1 percent, to 311 in October. Most of the increase came in accommodations and food services, retail trade and manufacturing. Over the year, claims were down by 33, or 9.6 percent, from 344 in October 2015.

Metro Gainesville had the lowest area jobless rate at 4.4 percent, while the Heart of Georgia-Altamaha region had the highest at 7 percent.

Meanwhile, Georgia’s seasonally-adjusted unemployment rate for October was 5.2 percent, up from 5.1 percent in September. It was 5.5 percent in October 2015.