Savannah Sees Drop in February Unemployment Rate

Staff Report

Friday, March 31st, 2023

Georgia Labor Commissioner Bruce Thompson said Thursday that Savannah recorded an unemployment rate of 3 percent in February, down one-tenth of a percent over the month. A year ago, the rate was 3.2 percent.

"Pro-growth policies that foster innovation and drive success are why Georgia remains the No. 1 state for business and a perennial powerhouse in talent development," said Commissioner Bruce Thompson. "Even with a slowing nationwide economy, communities across Georgia continue to thrive with low unemployment and high job growth."

The labor force increased in Savannah by 265 and ended the month with 197,801. That number decreased by 1,570 when compared to February of 2022.

Savannah finished the month with 191,810 employed residents. That number increased by 340 over the month and decreased by 1,195 when compared to the same time a year ago.

Savannah ended February with 199,100 jobs. That number decreased by 100 from January to February and increased by 2,100 when compared to this time last year.

Historically, claims increase every January due to temporary seasonal manufacturing shutdowns and the retail sector shedding workers hired for the holiday season. In February, initial unemployment claims decreased by 20 percent in Savannah, dropping back to normal levels. When you compare February 2023 claims to February 2022, claims were down by about 12 percent.