The Georgia Department of Labor (GDOL) announced Thursday that Georgia’s unemployment rate for May 2024 has fallen to 3.5%, a decrease of one-tenth of a percent from the revised 3.6% in April. This rate is also significantly lower than the national unemployment rate by seven-tenths of a percent.

“Month after month, Georgia shows what’s possible when job creation and economic opportunity are a top priority,” stated Georgia Labor Commissioner Bárbara Rivera Holmes. “With unemployment falling to 3.5%—after holding steady at 3.6% for nearly a year—and recent job growth, we’re proving once again that Georgia’s business-friendly environment and competitive workforce deliver results. More than 5 million Georgians are working today because we never stop fighting for policies that put Georgia first.” Georgia’s job market continues to show strength, with jobs increasing by 4,900 in May and 14,500 over the year, reaching an all-time high of 4,988,600.

Several sectors have achieved record employment levels, including financial activities (284,400), health care and social assistance (619,900), and government (723,000). The health care and social assistance sector led job gains in May with 4,000 new positions, followed by administrative and support services (2,400), accommodation and food services (1,900), state government (1,200), retail trade (1,000), durable goods manufacturing (1,000), and non-durable goods manufacturing (1,000). However, some sectors experienced job losses in May, including other services (2,600), wholesale trade (1,600), construction (1,400), arts, entertainment, and recreation (1,200), and transportation, warehousing, and utilities (900). Over the past year, the health care and social assistance sector has seen the most significant job growth, adding 22,700 positions. State government followed with an increase of 4,300 jobs, while private educational services and local government added 3,500 and 2,700 jobs, respectively.

Conversely, the transportation, warehousing, and utilities sector experienced a decline of 6,400 jobs over the year, followed by construction (3,500), administrative and support services (2,900), retail trade (2,800), and information (2,600). Georgia’s labor force decreased by 4,111 to 5,376,298 in May and is down 29,828 over the past year. Employment also fell by 1,386 to 5,187,272, declining by 28,111 over the past 12 months. Unemployment decreased by 2,725 to 189,026 in May and is down by 1,717 over the past 12 months. Initial claims were down by 1,901 over the month to 19,135 in May and were down by 899 over the year.

These figures indicate a continued positive trend in Georgia’s job market, driven by strategic investments in key sectors and a commitment to creating a business-friendly environment.