The State of Georgia's August 2012 unemployment rate remained unchanged at 9.2%. This is the 2nd straight month at 9.2% and also matches January for the highest rate for Georgia in 2012. For the month, there were an estimated 439,700 people unemployed in the state. This is up by approximately 1,500 over July 2012. There were also about 2,400 fewer workers employed in Georgia, and just under 1,000 fewer in the total workforce in August. These (relatively) small variations compared to July led to the flat unemployment rate in August.
Though higher, the present rate is still 0.7% better than the 9.9% rate in August 2011. In comparison with 2011, there are over 30,000 fewer unemployed individuals in the state. Over the prior 12 months there are roughly 64,200 more individuals employed in Georgia. Additionally, during that same timeframe there's been a rise in the total workforce of over 34,000 people. These numbers take together resulted in the notable drop in Georgia's unemployment rate over the past year. In comparison to the national average, however, Georgia's August rate remains much higher (1.1%) than the U.S. average of just 8.1%.
Georgia still has one of the highest unemployment rates in the area. The States of Tennessee (8.5%), Florida (8.8%), Alabama (8.5%), and Mississippi (9.1%) all have lower rates in than Georgia in August 2012. Only the State of South Carolina (at 9.6%) has a higher August unemployment rate. However, just like Georgia, many of the states in the region have also been experiencing higher unemployment rates in the past few months.
The August 2012 results for Georgia's business types is mixed. Businesses that experienced employment gains for the month include Manufacturing, Information, Education & Health Services, and Leisure & Hospitality. Down in August were Construction, Financial Activities, Professional & Business Services, and Government. The industry with the biggest percentage gain during the last year in Georgia was Professional & Business Services (up 4.8%). The largest decline (again by percentage) for the prior 12 months was Construction (down 6.7%). The business sector with the biggest employment numbers in August was in Trade, Transportation & Utilities with about 842,800 employed. Second in August was Government with roughly 665,000 employed.
Georgia's September employment results for Georgia will be publicized later this month. When they are available, we'll once more review the state's industries and how it compares to the past and to it's neighbors. Please remember that formerly released employment numbers may be changed sometime in the future.
Though higher, the present rate is still 0.7% better than the 9.9% rate in August 2011. In comparison with 2011, there are over 30,000 fewer unemployed individuals in the state. Over the prior 12 months there are roughly 64,200 more individuals employed in Georgia. Additionally, during that same timeframe there's been a rise in the total workforce of over 34,000 people. These numbers take together resulted in the notable drop in Georgia's unemployment rate over the past year. In comparison to the national average, however, Georgia's August rate remains much higher (1.1%) than the U.S. average of just 8.1%.
Georgia still has one of the highest unemployment rates in the area. The States of Tennessee (8.5%), Florida (8.8%), Alabama (8.5%), and Mississippi (9.1%) all have lower rates in than Georgia in August 2012. Only the State of South Carolina (at 9.6%) has a higher August unemployment rate. However, just like Georgia, many of the states in the region have also been experiencing higher unemployment rates in the past few months.
The August 2012 results for Georgia's business types is mixed. Businesses that experienced employment gains for the month include Manufacturing, Information, Education & Health Services, and Leisure & Hospitality. Down in August were Construction, Financial Activities, Professional & Business Services, and Government. The industry with the biggest percentage gain during the last year in Georgia was Professional & Business Services (up 4.8%). The largest decline (again by percentage) for the prior 12 months was Construction (down 6.7%). The business sector with the biggest employment numbers in August was in Trade, Transportation & Utilities with about 842,800 employed. Second in August was Government with roughly 665,000 employed.
Georgia's September employment results for Georgia will be publicized later this month. When they are available, we'll once more review the state's industries and how it compares to the past and to it's neighbors. Please remember that formerly released employment numbers may be changed sometime in the future.
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