Georgia’s unemployment rate dropped to 7.1 percent in February from 7.3 percent in January, as employers hired more workers and reduced layoffs, the state labor department said Thursday.
“This is the eighth month in a row that Georgia’s unemployment rate has declined,” state Labor Commissioner Mark Butler said in a statement. “The rate dropped in February because Georgia employers created nearly 7,000 new jobs and reduced the number of new layoffs more than 30 percent.”
The number of jobs increased to 4,036,700 in February, up 0.2 percent from January. The gains came in state-operated public schools — 4,500 jobs; professional and business services — 3,800; construction, — 3,400; education and health services — 1,500; and manufacturing — 1,000. But trade, transportation, and warehousing lost 7,200 jobs.
Over the past year, the number of jobs increased by 57,000 as the unemployment rate fell from 8.5 percent in February 2013. The big gainers were trade, transportation and warehousing — 17,100 jobs ; leisure and hospitality — 15,200; professional and business services — 11,900; construction — 9,200; and education and health services — 7,200. Government, meanwhile, cut 12,000 jobs.
“We’re seeing a lot of good news across most sectors, but probably the one we’re the most excited about is construction,” Butler said. “The one-month growth rate is 2.3 percent and over the year it’s 6.6 percent, which is outpacing all other sectors.”
On the layoff front, 40,322 new claims for unemployment insurance were filed in February, a drop of 30.6 percent from January. Most of the decline came in manufacturing; trade, transportation and warehousing; administrative and support services; and accommodations and food service.
Georgia’s jobless rate still trails the national rate, currently 6.7 percent.
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