Georgia’s unemployment rate decreased to 7.7 percent in November, its lowest point in five years, the state labor department announced Thursday.
The seasonally adjusted rate is down four-tenths of a percentage point from 8.1 percent in October and a full percentage point from 8.7 percent in November 2012.
Labor Commissioner Mark Butler credited the decrease to strong job growth and a solid drop in new claims for unemployment insurance benefits.
“The numbers for new jobs is the best October to November growth since 2007 and the number of new claims is the lowest for any month since September 2007. Both of these numbers pre-date the recession,” said Butler.
From October to November the state gained 19,500 jobs, bringing the total to 4,095,500 — the most jobs in the state since September 2008. Over the year, Georgia added 91,200 jobs, or 2.3 percent, since November 2012.
The sectors with the most growth in November were trade, transportation and warehousing with 14,700 new jobs. Most sectors also experienced November to November growth except for government, which has shed 6,900 jobs over the past year.
In Metro Savannah, job gains were more modest. Bryan, Chatham and Effingham counties added 500 new jobs from October for a total of 160,000. This is 400 more jobs, or 0.3 percent more, than November 2012. Job gains in Savannah have been trending positively since July.
New layoffs in the region, represented by initial claims for unemployment insurance, also declined slightly to 1,157. That’s 88 fewer than October and 240 fewer than last year.
Statewide, new layoffs decreased to 33,781 in November, which is 13,570 less than November 2012.
The overall number of unemployed Georgians also decreased to 363,055, marking its lowest point since October 2008.
Georgia labor market data are available at www.dol.state.ga.us.