The unemployment rate for Metro Atlanta in October was 5.4 percent, its lowest point since November 2005. The rate was down one-tenth of a percentage point from 5.5 percent in September, and a full percentage point from 6.5 percent in Oct. 2014.
According to the Georgia Department of Labor, the rate plummeted as Atlanta employers created 32,400 jobs from September to October, propelling the total job count up 1.3 percent to 2,628,000; that is highest forecasted employment growth since Feb. 2011.
The increase in jobs came mostly in: warehousing, trade and transportation, which added 10,800; business and professional services (6,800 jobs); local and state government (4,100 jobs); hospitality and leisure (3,200 jobs); health and education services (3,100 jobs); manufacturing (1,900 jobs); and financial activities (1,500 jobs). The construction industry, interestingly, lost 300 jobs.
Economic Growth in Metro Atlanta
Over the past 13 months, Atlanta gained 88,100 jobs, the Department of Labor reported, growing at a steady rate of 3.5 percent, from 2,539,900 in Oct. 2014. The majority of job growth came in professional and business services, which added 25,500; trade, transportation and warehousing (18,400 jobs); leisure and hospitality (12,200 jobs); education and health services (9,600 jobs); state and local government (9,300 jobs); manufacturing (6,100 jobs); financial activities (4,700 jobs); and construction (3,200 jobs).
The Georgia-Altamaha region had the highest area jobless rate at 7.3 percent, while Metro Gainesville had the lowest at 4.7 percent. The seasonally-adjusted unemployment rate for Georgia was 5.7 percent in October, down from 5.8 percent a month prior.