While Georgia's unemployment rate saw a slight increase in May, reaching 3.2% after holding steady at 3.1% for nine months, it remains remarkably low. This minor rise follows a record low of 2.9% in May 2022. The state's labor market continues to exhibit strength, with May marking the 20th consecutive month of unemployment rates below 3.5%, a feat achieved only five times between 1976 and September 2021.

The number of Georgians actively seeking employment reached a new high in May, outpacing the growth in available jobs and contributing to the slight increase in unemployment. Despite this, the number of employed Georgians also hit a record high, nearing 170,000.

A key indicator of labor market health, the number of workers on Georgia employer payrolls, surged by almost 15,000 between April and May, reaching an unprecedented 4.91 million. This figure surpasses the May 2022 total by approximately 118,000, marking the seventh consecutive month of record-breaking payroll numbers.

This positive trend contrasts with the national unemployment rate, which climbed to 3.7% in May from 3.4% in April, compared to 3.6% a year ago. In the week ending June 10, approximately 6,700 Georgia residents filed new unemployment claims, with around 34,000 individuals receiving state unemployment benefits during the week ending June 3.

These figures, released by the state on Thursday, are seasonally adjusted to account for typical fluctuations.