Georgia’s unemployment rate reached a new all-time low in March, falling to 3.1% as surveys show record numbers of people working in the state.
The jobless rate fell from the previous record low of 3.2% in February. It was 4.4% in March 2021. The nationwide jobless rate fell to 3.6% in March from 3.8% in February.
Close to 5.1 million people were working in March, while 165,000 Georgians were unemployed and actively seeking work.
Wages are rising in a tight labor market, with the state Labor Department reporting wages 9% higher in February than two years earlier. The state’s labor force was basically flat for more than a year while job opportunities rocketed back from the pandemic-induced plunge. Some signs of growth in early 2022 have emerged, suggesting that demand for workers and rising wages in Georgia may be luring new job-seekers.
Georgia’s jobless rate fell for 19 consecutive months after hitting an all-time high of 12.5% at the start of the pandemic in April 2020. Initial measurements last year had shown Georgia’s unemployment rate dipping as low as 2.6%, but revisions showed those numbers overstated the health of the job market.
