Editor’s note: If you read Dana Lynn McIntyre’s story from the Georgia Chamber Foundation, you know the struggle is real for finding workers. However, there is a bright spot in the latest employment numbers for Augusta.
The Augusta Labor Market Index increased 0.2 percent in October from September. This constitutes five consecutive months of growth. The index now stands 0.3 percent higher than a year ago, the first time it has shown year-on-year growth since October 2022.
Three components of the index grew month-on-month. Employment increased by 1,000 to stand just 200 jobs below the pre-pandemic peak. The labor force expanded, and the average number of hours worked increased to the highest level since February. Unemployment remained unchanged for the fifth consecutive month at 3.8 percent. The only component that declined was average weekly earnings, which fell one percent to $983.38.
The local labor market has strengthened a little in the last six months compared to the previous six months. How will it fare in 2024? There is still time to register for my annual economic forecast on Thursday, December 7th at 7:30 am in the Augusta University Summerville Campus Jaguar Student Activities Center Ballroom. Email hull@augusta.edu to reserve your space and breakfast.
