Valdosta Sees Rise in May Unemployment
Friday, June 28th, 2024
Georgia Labor Commissioner Bruce Thompson said Thursday that Valdosta recorded an unemployment rate of 3.9 percent in May, up nine-tenths of a percent over-the-month. A year ago, the rate was 3.6 percent.
“We are witnessing a shift within Georgia’s retail sector and several major industries as companies change the way they do business,” said Commissioner Bruce Thompson. “Alongside these industry changes, there is a growing influx of students and recent college graduates entering the job market, pursuing both temporary and full-time employment. This seasonal increase in workforce participation significantly impacts summertime unemployment rates across communities statewide.”
The labor force decreased in Valdosta by 351 and ended the month with 62,314. That number went down by 522 when compared to May of 2023.
Valdosta finished the month with 59,906 employed residents. That number decreased by 893 over-the-month and went down by 649 when compared to the same time a year ago.
Valdosta ended May with 55,700 jobs. That number went down by 800 from April to May and went down by 900 when compared to this time last year.
In May, initial unemployment claims decreased by 52 (-19%) in Valdosta. When you compare May 2024 claims to May 2023, claims were down by 49 (-18%).