The Augusta Labor Market Index (LMI) was unchanged in August compared to July. It is 0.8 percent higher than August 2024.
Employment increased in August, as I have already reported, and the unemployment rate fell from 4.2% to 4.1%.
However, the other three components of the LMI fell. Average weekly earnings decreased by $30, the labor force fell by 40 people, and average weekly hours worked fell by 36 minutes.
Across the Metropolitan Statistical Areas (MSAs) of Georgia, only Brunswick and Macon saw declines in the LMI. Athens, Dalton, Rome, and Savannah saw above-average growth in their LMIs. Across the MSAs, employment was down in eight and up in five. Unemployment fell or remained the same in all fourteen MSAs. Eight MSAs saw their labor force expand, and six contracted. Earnings and hours increased in nine MSAs and fell in five.
Labor markets in Columbus, Macon, and Valdosta have deteriorated from a year ago, while Albany, Athens, Savannah, and Warner Robins have improved more than the state average. Overall, Georgia’s labor markets are stronger than a year ago and marginally better than in July.
