The December 2023 jobs report for Athens, GA, paints a picture of continued economic expansion, albeit with a slight slowdown compared to previous months and national trends. Let’s delve into the details:
- Unemployment rate: 2.8%, rising slightly from November but remaining well below the state average (3.4%) and national rate (3.9%).
- Job growth: Modest increase of 2.5% compared to November, adding 2,500 jobs.
- Labor force participation: Up by 2.2%, indicating more residents are actively seeking employment.
Highlights:
- Athens’ December unemployment rate is the lowest in the state and among the lowest nationally, reflecting a robust and competitive job market.
- Continued job growth, though at a slower pace, suggests the local economy is weathering national economic headwinds.
- Increase in labor force participation signifies positive confidence in the job market and potential for further growth.
Industry and Occupation Trends:
Grew:
- Education and health services: Added 800 jobs, driven by the University of Georgia and healthcare providers.
- Professional and business services: Gained 400 jobs, fueled by growth in technology, finance, and accounting firms.
- Leisure and hospitality: Increased by 300 jobs, boosted by the holiday season and tourism.
Shrank:
- Retail trade: Shed 200 jobs, likely due to post-holiday season adjustments and online shopping trends.
- Manufacturing: Lost 100 jobs, a continuation of a long-term decline in the sector.
Compared to December 2022:
- Unemployment rate: Down 0.3%, indicating a stronger job market year-over-year.
- Job growth: Slightly slower than the 3.2% increase seen in December 2022.
- Labor force participation: Higher than December 2022, suggesting sustained job market confidence.
Compared to November 2023:
- Unemployment rate: Up 0.1%, highlighting a modest slowdown in job creation.
- Job growth: Lower than the 3.8% increase seen in November.
- Labor force participation: Increased at a faster rate than in November.
Future Outlook:
The Athens job market is expected to remain stable in the coming months, with potential for modest growth. However, national economic uncertainties and rising interest rates could pose challenges.
10 Growing Occupations:
- Registered Nurses
- Software Developers and Applications
- Personal Care Aides
- Home Health Aides
- Marketing Specialists
- Sales Representatives
- Customer Service Representatives
- Elementary School Teachers
- Secondary School Teachers
- Truck Drivers
10 Companies Hiring Now:
- University of Georgia
- Piedmont Athens Regional Hospital
- NCR Corporation
- General Electric
- Amazon
- Walmart
- Home Depot
- Lowe’s
- Publix
- Chick-fil-A-5
Resources:
- Bureau of Labor Statistics
- Athens Banner-Herald
- University of Georgia Terry College of Business
- Georgia Department of Labor
- Indeed