Georgia's unemployment rate falls to 8.7% for October
According to the Georgia Department of Labor, Georgia's seasonally adjusted unemployment rate declined to 8.7 percent in October, down three-tenths of a percentage point from 9.0 percent in September while the jobless rate was 9.7 percent in October a year ago.
"The unemployment rate dropped because we had an increase of 36,000 new jobs, which is the largest September to October job increase ever," said State Labor Commissioner Mark Butler in the release. "That job growth pushed the number of jobs in October to the highest level in any month since December of 2008."
"While manufacturing gained 700 jobs during the month, it's more important to note that the industry has gained 10,500 jobs in the last year," Butler added.
Georgia gained 68,000 jobs, or 1.7 percent, from 3,903,700 in October 2011. The release also said that additional growth sectors over the year include: professional and business services, up 25,500; retail trade, up 14,000; education and health care, up 13,000; food services and drinking establishments, up 9,400; and technology, up 3,600.
Georgia's labor force continued to increase, climbing to 4,793,540 in October, up by 17,438, or four-tenths of a percentage point, from 4,776,102 in September. The state's workforce totaled 4,734,487 in October 2011.
"Our labor force has grown consistently over the past year, indicating that Georgians are more optimistic about finding a job, and fortunately, we've had the job growth necessary to put these people to work," said Butler.