Georgia jobless rate dips below 4% as payrolls again leap

Published 9:30 am Friday, August 20, 2021

ATLANTA (AP) — Georgia employers continued to add to payrolls at a fast clip in July as the state’s unemployment rate fell below 4% for the first time since the pandemic began.

It was the 15th straight month that the state’s jobless rate decreased, falling to 3.7% from 4% in June. The state’s jobless rate was 7.6% in July 2020.

The number of unemployed people fell to about 193,000 in July, as more people entered the labor force and more people found jobs. That’s the first time the total number of jobless people fell below 200,000 in Georgia since the start of the pandemic.

Employer payrolls — the top labor market measure for many economists — rose to 4.57 million. That was Georgia’s second big monthly jump in a row.

The state’s labor market is not quite fully healed, with payrolls still 2% lower than before the coronavirus started spreading.

After June 26, Georgia cut off programs that paid special federal assistance to people who are not usually eligible for regular unemployment, as well a a $300-a-week boost to people.

Republican Labor Commissioner Mark Butler in a news release credited the state’s decision to curtail extra federal unemployment benefits for driving more job seekers into the market, but Georgia’s large payroll jumps mirror those seen nationwide, even though some states did not end the extra federal payments.

Nonfarm payroll employment grew by 943,000 nationwide in July. The nationwide jobless rate in July fell to 5.4%.

“We are seeing all-time high job numbers in many sectors,” Butler said in a statement. “The job market is saturated with opportunities for job seekers, and we are working to connect employers with candidates for long-term employment.”

The Georgia Department of Labor released the job figures Thursday, adjusted to cancel out seasonal changes.

The number of Georgia workers filing for new unemployment benefits fell to about 10,000 in the week Aug. 14, the lowest level since the beginning of the pandemic.

The overall number of people collecting regular state unemployment was about 91,000 in the week ended Aug. 7. That number remains elevated compared to pre-pandemic periods.