Georgia nonprofit: New labor numbers show Georgia is benefitting

by Georgia Center for Opportunity | Jul 12, 2022

Georgia nonprofit: New labor numbers show Georgia is benefitting

New data from the U.S. Bureau of Labor Statistics found that total nonfarm payrolls nationwide increased by 372,000 jobs in June, a higher-than-expected increase. At the same time, the national unemployment rate remained at 3.6%.

A Georgia nonprofit says the real story is found at the state level, as many workers are opting to leave many states for places like the Peach State.

“The job numbers are seen as positive overall, but the real story is at the state level where economically free states are performing so much better than more restrictive states,” Erik Randolph, the director of research for the Georgia Center for Opportunity, said in a statement.

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the U.S. Bureau of Labor Statistics reported the unemployment rate remained at 3.6%

by Erik Randolph | Jul 11, 2022

the U.S. Bureau of Labor Statistics reported the unemployment rate remained at 3.6%

Key Points

Total nonfarm payrolls for the U.S. rose by 372,000
Unemployment rate remained at 3.6%.

On Friday, the U.S. Bureau of Labor Statistics reported that total nonfarm payrolls for the U.S. rose by 372,000 in June and the unemployment rate remained at 3.6%. The increase was higher than expected.

The Georgia Center for Opportunity’s (GCO) take: “The job numbers are seen as positive overall, but the real story is at the state level where economically free states are performing so much better than more restrictive states,” said Erik Randolph, GCO’s director of research. “Of the 14 states that have recovered all their jobs lost due to the COVID-19 pandemic, 12 of them are governed by leaders more friendly to economic freedom. Recent migration data show that businesses and workers are leaving more restrictive states — like California and New York — to migrate to more free states, like Georgia, Texas, Florida, and Tennessee. These states are far better positioned to weather an economic recession as well.”

Georgia’s unemployment rate now stands at a record low of 3.0%

by Georgia Center for Opportunity | Jun 20, 2022

Georgia’s unemployment rate now stands at a record low of 3.0%

Key Points

Georgia is one of 14 states to fully recover from pandemic-related job loss.
States with severest lockdown are still struggling.
There’s been a decline in labor force participation.

Georgia’s unemployment rate now stands at a record low of 3.0% in May, according to new data from the U.S. Bureau of Labor Statistics released on Friday.

The Georgia Center for Opportunity’s (GCO) take: “Georgia is now one of only 14 states in the U.S. that have fully recovered from pandemic-related job loss,” said Erik Randolph, GCO’s director of research. “The states that imposed the severest lockdown measures due to COVID-19 are still struggling, and likely will be for months to come. All told, Georgia is in excellent company as one of the top states in job recovery. That being said, it’s important to remember that unemployment rates can be misleading. Since the pandemic, we’ve witnessed an acceleration of the decline in the labor force participation rate. Particularly concerning is the persistent problem of prime-working-age males being absent from the labor force. The number is estimated to be around 250,000 men in Georgia in 2021. A major policy goal in our state must be efforts to reengage this men in the labor force.”