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June jobless number not encouraging

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POSTED: July 16, 2010 9:23 a.m.
ATLANTA — The Georgia Department of Labor reported Thursday that the state’s seasonally adjusted unemployment rate declined to 10.0 percent in June, down one-tenth of a percentage point from a revised 10.1 percent in May. This is the 33rd consecutive month Georgia has exceeded the national unemployment rate, which is now 9.5 percent.
“Georgia’s job market is showing signs of renewed deterioration,” State Labor Commissioner Michael Thurmond said. “A sharp increase in the number of discouraged workers, rising long-term unemployment, increased new layoffs, and anemic job growth suggests that the fledgling economic recovery may be losing steam.”
Georgia’s labor force shrunk by 17,953 in June, as long-term unemployed workers lost hope for finding new jobs. This is the largest over-the-month decline in the labor force since May 2001.
The number of payroll jobs in June decreased 9,400, or two-tenths of a percentage point, from 3,838,400 in May to 3,829,000. And, the number of jobs remains less than in June 2009, when there were 3,878,600 payroll jobs, 1.3 percent, or 49,600 more than this year.
In June, there were 230,000 long-term unemployed Georgians (those who have been out of work for 27 weeks or longer). This represents an increase of 123,900, or 116.8 percent from 106,100 long-term unemployed in June 2009. And, it represents an increase of 4,300, or 1.9 percent, from 225,700 in May. The long-term unemployed now account for 49 percent of the 469,022 jobless workers in Georgia.
Also in June, 64,794 laid-off workers filed initial claims for unemployment insurance benefits, an increase of 6,875, or 11.9 percent, from 57,919 in May. However, there was a decline of 23,962 initial claims, or 27.0 percent, from 88,756 filed in June 2009. Most of the first-time claims were filed in wholesale and retail trade, manufacturing and construction, and administrative and support services.  

 

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