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Metro Albany’s unemployment rate declines to 8.2 percent in November

By   /   December 26, 2013  /   Comments

Staff Reports

ATLANTA – The Georgia Department of Labor announced today that metro Albany’s unemployment rate decreased to 8.2 percent in November, down six-tenths of a percentage point from 8.8 percent in October. This is the lowest the rate has been since it was 8.1 percent in March 2009. The rate was 9.1 percent in November a year ago.  For the Southwest Georgia region decreased to 7.9 percent in November, down six-tenths of a percentage point from 8.5 percent in October. The rate was 8.7 percent a year ago.

The rate declined in November primarily because both the number of jobs increased and the number of unemployment insurance claims were down.

The DOL reports that Metro Albany employers added 500 jobs in November, increasing the number of jobs to 62,300, up by 0.8 percent, from 61,800 in October. Most of the new jobs were in trade, transportation and warehousing.  In Southwest Georgia as a whole, the number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, decreased to 1,385, down by 234, or 14.5 percent, from 1,619 in October. Claims declined in several sectors, including manufacturing and construction and trade, transportation and warehousing. There were 1,741 claims in November 2012.

Over the year, jobs in Albany were up by 400, or 0.7 percent, from 61,900 in November 2012. Most of the jobs in a year’s time were also added in trade, transportation and warehousing.

The number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, decreased to 774, down by 96, or 11 percent, from 870 in October. Claims declined in several sectors, including trade, transportation and warehousing, along with manufacturing and construction. There were 685 claims in November 2012.

The number of unemployed people in Albany decreased to 5,933, down by 437 from 6,370 in October. There were 6,783 unemployed in November 2012.

Metro Athens had the lowest area jobless rate at 5.1 percent, while the Heart of Georgia-Altamaha region had the highest at 10 percent.

Meanwhile, Georgia’s seasonally adjusted unemployment rate for November was 7.7 percent, down from 8.1 percent in October. The rate was 8.7 percent in November a year ago.

The state Department of Labor notes that local area unemployment data are not seasonally adjusted.

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