Georgia’s seasonally adjusted unemployment rate dropped in July to 6 percent, the lowest it has been in seven years, according to new figures released Aug. 20 by the Georgia Department of Labor.
The rate is down one-tenth of a percentage point from 6.1 percent in June, and down from 7.2 percent in July 2014. The state had 89,400 more jobs in July than this time last year.
That’s good news for the state, which has had higher unemployment, higher poverty and lower personal income than the nation and other states.
In “Georgia’s Ranking Among the States,” a report released by the Center for State and Local Finance in June, data shows the state has definite room for growth.
- In personal income, Georgia ranked 40th, with an average per capital personal income of $39,097 in 2014. This was below the national average of $45,172. But, the state showed promise, as well. It had the 18th highest growth rate in personal income among all the states.
- The annual average unemployment rate in 2014 was 7.2 percent, placing Georgia 45th – among the worst unemployment rates in the nation. The national average was 5.8 percent.
- The state also has a high poverty rate. In 2013, 16.3 percent of population was living in poverty, ranking Georgia 13th.
There is certainly work to be done to increase Georgia’s economic standing, but the recently released labor statistics suggest things are looking up.
Want to know more about jobs in Georgia?
Visit CSLF’s economic development and urban policy webpage.