Valdosta Sees Rise in May Unemployment Rate
Friday, June 23rd, 2023
Georgia Labor Commissioner Bruce Thompson said Thursday that Valdosta recorded an unemployment rate of 3.8 percent in May, up nine-tenths of a percentage point over the month. A year ago, the rate was 3 percent.
"Despite an uptick in the unemployment rate, Georgia's economy and job market remains red hot while the number of claims remains relatively low - especially compared to the national numbers," said Commissioner Bruce Thompson. "While one month does not signal a trend, my administration will continue to keep a close eye on the labor market to identify any new developments."
The labor force increased in Valdosta by 270 and ended the month with 63,053. That number went down by 95 when compared to May of 2022.
Valdosta finished the month with 60,669 employed residents. That number decreased by 307 from April to May and fell by 557 when compared to the same time a year ago.
Valdosta ended May with 56,900 jobs. From April to May, jobs rose by 100, and compared to May 2022, they increased by 600.
In May, initial unemployment claims increased by 28 percent in Valdosta. When you compare May 2023 claims to May 2022, claims were up by about 77 percent.