Metro Atlanta had only modest job growth last month, but the unemployment rate fell to 4 percent – its lowest level in March since 2007.
The region added 7,300 jobs during the month, less than half the average expansion for March during the previous five years, according to a report Thursday from the Georgia Department of Labor.
The region continued to account for most of the jobs added in the state.
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Metro Atlanta is getting a push from two tailwinds, as it benefits from both the global and national economies, said Gus Faucher, chief economist of The PNC Financial Services Group. “Job growth in Atlanta is running consistently above the U.S. average.”
“Nearly one-half of them expect to increase employee compensation over the next six months,” he said.
In contrast, construction lost jobs – perhaps because of the unusually bad weather during the month. Also down were jobs in information –perhaps because of the churn that adds new tech jobs while others become obsolete.
Unemployment a year ago was 4.7 percent. In the year since, the metro economy has added 45,200 jobs.
April is typically one of the stronger months for hiring in Atlanta. Among those that are hiring this month are:
In the higher-paid tech sector, Atlanta-based Square is hiring software engineers, product managers, and data scientists, according to a spokeswoman. The company, which makes software tools – especially for small businesses – has 60 employees now and space for 100.
Metro Atlanta jobs in March
Jobs added, 2018: 7,300
Average jobs added, 2013-17: 15,200
Unemployment rate, 2018: 4.0 percent
Unemployment rate, 2017: 4.7 percent
Highest March unemployment rate: 10.2 percent (2010)
Lowest March unemployment rate: 3.1 percent (1999)
Jobs added past 12 months: 45,200
Jobs added previous 12 months: 75,200
Source: Bureau of Labor Statistics, staff research