According to an article from the AJC Georgia’s unemployment rate inched down to 3.3% in November, the lowest level since the government started keeping track 43 years ago.
The record was reached after the state economy added 6,500 jobs last month, slightly less than average for November, the Georgia Department of Labor reported Thursday.
In October, the unemployment rate had dipped to 3.4%, matching the previous low notched in 2001 toward the end of the tech boom.
“It’s nice to see this at the end of the year,” said Mark Butler, state labor commissioner. “I think we are going to continue to see Georgia move in the right direction.”
That momentum has continued despite trade tensions and political uncertainty, at least partly because lower interest rates and steady job growth have kept American consumer wallets open this holiday season.
The record-low unemployment rate in Georgia also came despite growth in the labor force, an indication that hiring was able to soak up most job seekers.
Georgia this year has added 60,900 jobs. While that is weaker growth than in any of the previous seven years, it is the 10th consecutive year of adding jobs, paralleling the nation’s record-long expansion.
During that span, the jobless rate has steadily slipped from a painful high of 10.6% to levels unseen since the boom of the late 1990s – and even then, 3.4% was the lowest low.
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