Last week I reported that the Augusta Labor Market Index (LMI) was up 1.5 percent on an annual basis, but how does this stack up against other metro areas in Georgia?
Better than it has in the recent past.
The strongest labor markets in Georgia remain Atlanta and Savannah, increasing at 2.8 percent and 2.6 percent, respectively. The LMI for Georgia increased at 2.4 percent from a year ago, the same as in the first quarter of the year. Athens continues to have strong growth.
Other metro areas that used to perform well have slowed down, particularly Gainesville. On the other hand, Columbus has seen renewed growth compared to the first quarter. Augusta’s growth therefore represents the middle of the pack.
The Augusta unemployment rate is at a record low of 3.3 percent. However, 10 metro areas have lower unemployment rates (Athens, 2.5 percent; Atlanta, 2.8 percent; Brunswick, 2.8 percent; Gainesville, 2.1 percent; Hinesville, 3.1 percent; Macon, 3.2 percent; Rome, 2.9 percent; Savannah, 2.8 percent; Valdosta, 3.0 percent; and Warner Robins, 2.9 percent).
Earnings growth is also strong in Augusta at 9.8 percent. This represents some of the highest growth in earnings in the state. Only Dalton (14.9 percent), Valdosta (14.8 percent) and Savannah (12.2 percent) have higher earnings growth. Only Gainesville workers have a longer working week (36.8 hours) than Augusta.
Overall, the labor market in Georgia and Augusta remains strong.
