Savannah’s Unemployment Rate Rises to 6.9%

Staff Report From Savannah CEO

Thursday, March 13th, 2014

The Georgia Department of Labor announced today that Metro Savannah’s unemployment rate increased to 6.9 percent in January, up three-tenths of a percentage point from 6.6 percent in December. The rate was 8.4 percent in January a year ago.

The rate rose primarily because the number of jobs in Metro Savannah decreased to 159,900, down by 1,800, or 1.1 percent, from 161,700 in December. Most of the losses came in retail trade (800), professional and business services (800), state government (400), and mining, logging, and construction (200). Some of the losses were offset by small gains in other sectors. Although the metro area lost jobs in January, the loss was considerably less than the average January loss of 3,700 jobs for the last five years.

And, the number of new layoffs, represented by initial claims for unemployment insurance (UI) benefits, increased to 2,079, up by 259, or 14.2 percent, from 1,820 in December. Most of the rise in claims came in retail trade, transportation and warehousing, health care and social assistance, and construction. There were 1,795 claims in January 2013.

While the number of jobs declined over the month, it increased by 4,300, or 2.8 percent, since January 2013, when there were 155,600 jobs. Most of the annual gains came in leisure and hospitality (2,200), professional and business services (1,800), and trade, transportation, and warehousing (1,100).

Metro Athens had the lowest area jobless rate at 5.4 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.

Metro Athens had the lowest area jobless rate at 5.4 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.