Georgia jobless rate jumps to 7 percent

Georgia’s unemployment rate hit 7 percent in October, the highest rate since 1992, the state Labor Department said Thursday.

The October rate is up from 4.5 percent in the same month of 2007, and metro Atlanta has lost 44,800 jobs over the past 12 months, or 1.8 percent of the total, the report said.

The state’s unemployment rate has climbed steadily this year, with the increase accelerating this fall. The rate was 6.4 percent in September.

“Georgia’s economy is being slammed by a deteriorating job market,” Labor Commissioner Michael Thurmond said.

The department said 343,093 unemployed Georgians are looking for work. Manufacturing, construction and retail are among the hardest hit sectors, the department said.

The Dalton area in north Georgia, where the job market is heavily dependent on flooring and other housing-related companies, has been the state’s hardest hit area, losing 3.7 percent of its jobs in the past year.

Macon, Athens and Gainesville have been the most stable area, posting job losses of .1 percent.

The unemployment report comes a day after Georgia State economist Rajeev Dhawan predicted the economy will struggle through 2009 before making a modest recovery in 2010.