GA Unemployment Rate Among Lowest In U.S., WalletHub Says

GEORGIA — Amid fluctuations and the cooling of inflation, finance experts say the unemployment rate has improved in the U.S. and in Georgia compared to a year ago.

Personal-finance website WalletHub released Thursday its findings on unemployment in the nation, and where individual states stand among their counterparts and the District of Columbia.

Experts utilized changes in unemployment claims for several key benchmark weeks and the number of claims per 100,000 people in the labor force to support its data.

Overall, WalletHub said unemployment claims rose by 3.6 percent week-over-week on May 27 with 6.5 million citizens currently unemployed.

As for Georgia, WalletHub said last week's unemployment claims are 23.08 percent lower than the previous week and 35.12 percent lower than in 2023.

Georgia ranked 48th in unemployment claims, making it one of multiple states to have a slow increase in unemployment since last week. The Peach State had 46 claims per 100,000 people in labor force.

The state ranked 49th for change in the number of unemployment insurance initial claims.

The year to date change in unemployment claims was -13.89 percent, setting Georgia toward the end of the pack.

Twenty-nine states, including Georgia, had unemployment claims last week that were better than the same week last year, WalletHub said. Other states include New Hampshire and Ohio.

Florida, Arkansas, Minnesota, North Dakota, Alabama and Pennsylvania are among several states whose unemployment claims last week were higher than in the previous week.

In its latest report released in May, Georgia Labor Commissioner Bruce Thompson said the state unemployment rate was eight-tenths lower in April than the national unemployment rate.

"Jobs for Georgians is something we take seriously in the Peach State," Thompson said in May in a news release. "With nearly 70,000 jobs added to the economy over the last year, including a whopping 15,000 this past month alone, there are now more opportunities than ever to launch Georgians into high-demand careers that meet industry needs head-on. While the future remains unclear, all signs are pointing toward Georgia as a perennial leader in growing jobs and creating economic opportunity for all."

The Department of Labor said there was a swelling in employment as jobs were up by 15,500, or 0.3 percent, over the month and up by 69,900, or 1.4 percent, over the year.

The following sectors had notably the most over-the-month job increases: professional, scientific and technical services; durable goods ; manufacturing; health care and social assistance; wholesale trade and finance and insurance.

The labor department said jobs dwindled in local government, retail trade and transportation and warehousing.

See WalletHub's full methodology here.