Savannah’s Unemployment Rate Sees Small Increase Amid Economic Growth

Savannah Sees a Slight Increase in Unemployment Rate

Hey there, Savannah! It’s that time of the month again when we dive into the numbers that help us understand our local economy. Recently, Georgia Labor Commissioner Bruce Thompson shared some insights about the city’s unemployment situation for October, and while it might sound a bit like a rollercoaster, there’s more to the story.

Unemployment Rate on the Rise

Let’s kick things off with the stats—Savannah’s unemployment rate was recorded at 3.0 percent for October. This marks a small increase of one-tenth of a percent from September’s figures. To put it in perspective, last year at the same time, the rate was lower at 2.8 percent. It might seem a little concerning at first, but hold on! Commissioner Thompson pointed out that most regions across Georgia experienced a slight uptick in unemployment. So, Savannah is not alone in this boat.

Georgia’s Strong Economic Stand

In fact, Thompson noted, “While most regions across Georgia experienced a slight uptick in unemployment, our state continues to lead the way with an unemployment rate well below the national average.” Sounds promising, right? He emphasized that despite the slowing job growth nationwide, Georgia is holding strong, thanks to what he called “commonsense policies.” These policies prioritize opportunity, growth, and ensuring the workforce is prepared to lead. This level of resilience shows that Georgia’s economy is not just built to handle challenges but to thrive for generations to come.

A Closer Look at the Labor Force

Now, let’s break down the numbers a little more. In October, Savannah’s labor force decreased by 636, landing us at 204,008. But here’s the good news—the labor force is up by 2,105 compared to October 2023. It’s a mixed bag, but it’s clear that there’s movement in the job market.

Speaking of jobs, Savannah ended October with 197,941 employed residents. While that’s down by 796 from September, it’s actually an increase of 1,745 compared to the same time last year. And here’s the exciting part: for the first time, Savannah achieved an all-time high of 208,800 jobs! That’s an increase of 1,000 over the previous month and a whopping 2,900 more than last year. Way to go, Savannah!

Initial Unemployment Claims on the Rise

On a different note, initial unemployment claims in Savannah saw an uptick too, rising by 139 from the previous month. Year-on-year, when you compare October 2024 to October 2023, claims were up by 137, with a total of 705 claims filed. These numbers suggest some folks are still facing challenges in securing steady employment, which can affect the overall economic situation.

Getting the Help You Need

If you’re in need of personalized assistance, you can reach out to the Georgia Department of Labor (GDOL) at dol.georgia.gov/email-us. They have a wealth of resources, especially for those navigating unemployment benefits. Claimants should consider calling 877.709.8185 or checking out the MyUI Claimant Portal for additional information. Let’s not forget to give a nod to GDOL’s Career Centers, which provide in-person unemployment insurance benefit services across the state.

Your Participation Matters!

And of course, we want to hear from you! If you have eyewitness accounts or stories related to the job market or local businesses, don’t hold back! Your insights can provide valuable perspectives on the dynamics of the Savannah economy. Help us keep the conversation going!

So, while the slight increase in unemployment might sound worrying, it’s essential to recognize the overall growth and resilience in our city. Let’s stay hopeful and continue supporting our local workforce!