Metro Savannah’s Unemployment Rate Rises to 5.9% in May

Staff Report From Savannah CEO

Thursday, June 25th, 2015

The Georgia Department of Labor announced today that Metro Savannah’s unemployment rate for May was 5.9 percent, up five-tenths of a percentage point from 5.4 percent in April. The rate in May 2014 was 7.1 percent.

The rate rose as jobs declined and new layoffs increased. 

The number of jobs in Savannah decreased by 1,800, or 1.1 percent, in May to 169,700 down from 171,500 in April.  Most of the job losses came in state government, primarily in non-contract school workers, as well as in leisure and hospitality, retail trade, and manufacturing. 

However, there was an over-the-year gain of 4,200 jobs, or 2.5 percent, from 165,500 in May 2014. Most of the job growth came in professional and business services, trade, transportation and warehousing, and the goods-producing sector, which includes manufacturing, mining, logging and construction. 

The number of initial claims for unemployment insurance rose by 213, or 29.7 percent, to 930 in May, up from 717 in April. Most of the increase came in transportation and warehousing, accommodations and food services, and administrative and support services. Over the year, claims were down by 486, or 34.3 percent, from 1,416 filed in May 2014.     

Metro Gainesville had the lowest area jobless rate at 5.1 percent, while the Heart of Georgia-Altamaha region had the highest at 7.7 percent. 

Meanwhile, Georgia’s seasonally-adjusted unemployment rate for May was 6.3 percent, up from a revised 6.2 percent in April. It was 7.3 percent in May 2014.