Gainesville Sees Job and Labor Force Growth Despite Rise in May Unemployment
Monday, July 1st, 2024
Georgia Labor Commissioner Bruce Thompson said Thursday that Gainesville recorded an unemployment rate of 2.6 percent in May, up six-tenths of a percent over-the-month. A year ago, the rate was 2.5 percent.
“We are witnessing a shift within Georgia’s retail sector and several major industries as companies change the way they do business,” said Commissioner Bruce Thompson. “Alongside these industry changes, there is a growing influx of students and recent college graduates entering the job market, pursuing both temporary and full-time employment. This seasonal increase in workforce participation significantly impacts summertime unemployment rates across communities statewide.”
The labor force increased in Gainesville by 1,051 and ended the month with 115,813, an all-time high. That number went up by 4,875 when compared to May of 2023.
Gainesville finished the month with 112,777 employed residents, an all-time high. That number increased by 349 over-the-month and rose by 4,656 when compared to the same time a year ago.
Gainesville ended May with 111,400 jobs, an all-time high. That number increased by 700 from April to May and rose by 4,900 when compared to this time last year.
In May initial unemployment claims increased by 29 (11%) in Gainesville. When you compare May 2024 claims to May 2023, claims were up by 34 (13%).