RBC I After a rise in the Rio Blanco County unemployment rate between May and June, the jobless rate fell a full percentage point in July and is also below the rate for July 2014.
Thus, in spite of the deterioration in headline figures, we consider that the labor market remains healthy, as this is the fourth consecutive month of August in which the unemployment rate stood at a single digit level.
Their withdrawal from the labor pool helped shrink the state joblessness rate down to 5.9 percent, a new low for this decade. That compared with the Reuters consensus forecast for a drop of 5,000.
– The area’s August unemployment rate was down from 4.9 percent in July and 5.7 percent in August 2014; it is the lowest since the area’s jobless rate was 4.7 percent in December 2007.
“The growth came mainly in the construction industry, which added 2,400 jobs”, he said in a statement.
“The grant will fund work-based training programs for 30 companies throughout Georgia who are committed to hiring 400 apprentices”, he said about a state Department of Economic Development initiative.
German unemployment registered a small, albeit unexpected increase in September.
In June, the state department reported that there were 2,877 in the available employees in the county workforce with 2,700 holding jobs and 177 on unemployment for the 6.2 percent rate. Economists give greater weight to the jobs numbers because the sample size is greater. “We are supposed to be in a recovery – so many other indicators are up like gross domestic product, consumer sentiment and the personal savings rate – yet the percentage of people participating in the labor market is still declining”. Still, he added, there are a plenty of unemployed and under-employed people that don’t have the skills employers are demanding.