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Economy Matters SouthPoint « Southeast Commercial Construction Update: Activity, Costs Up | Main | Regional Manufacturing Ends 2013 with a Whimper, but Optimism Is Rising » 12/31/2013 Georgia, Tennessee Lead Regional Payroll Growth in November In November, 45 states had unemployment rate decreases, and the other five had no change, according to the monthly regional and state employment and unemployment summary from the U.S. Bureau of Labor Statistics (BLS). All the states in the Atlanta Fed’s district were among those 45 states that saw declines in their unemployment rates, with the unemployment rates in both Georgia and Tennessee falling 0.4 percentage points (to 7.7 percent and 8.1 percent, respectively). The Sixth District aggregate unemployment rate fell 0.3 percentage points to reach 7.0 percent, mirroring the trend and level of the national unemployment rate in November. Georgia and Tennessee saw the largest growth in payrolls in the Sixth District in November as well, according to the same report. Georgia added 14,500 payrolls in November (see the table), with roughly a third of those new payrolls being in the construction industry (up 4,400 payrolls). Roughly another third of Georgia’s job gains were in transportation and warehousing industries (up 4,100 payrolls), and the other third of Georgia’s payroll growth in November was split between leisure and hospitality (up 2,900 payrolls) and financial activities (up 1,700 payrolls). Employment growth in real estate was notable last month (up 1,200 payrolls). Tennessee added 9,400 payrolls in November, with about 2,500 of those payrolls in the leisure and hospitality sector and another 1,900 in durable goods–manufacturing industries. Three Sixth District states have unemployment rates higher than the national level of unemployment (Georgia, Tennessee, and Mississippi), and three sit below (Alabama, Florida, and Louisiana; see the chart). The BLS will release metropolitan area employment and unemployment data for November, which will provide an even more granular view of regional labor markets, on Tuesday, January 7, 2014, at 10 a.m. By Mark Carter, a senior economic analyst in the Atlanta Fed’s research department December 31, 2013 in Employment, Georgia, Labor Markets, Southeast, Tennessee, Unemployment | Permalink TrackBack TrackBack URL for this entry: http://www.typepad.com/services/trackback/6a011572565d3f970b019b03f81d68970d Listed below are links to blogs that reference Georgia, Tennessee Lead Regional Payroll Growth in November: Comments You can follow this conversation by subscribing to the comment feed for this post. An accurate and labor perspective on the economic growth and stability of the south of the U.S. Excellent document. Posted by: Jean Pier Dorta | 01/02/2014 at 10:37 PM Post a comment Comments are moderated and will not appear until the moderator has approved them. If you have a TypeKey or TypePad account, please Sign in Name: Email Address:(Not displayed with comment.) URL: Remember personal info? Comments: Preview Post
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