The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
Employment data point to continued regional recovery
February employment reports for the states of the Sixth Federal Reserve District showed increases in jobs for most areas and further declines in unemployment rates. For the six states together, net job gains were 17,900, which is just about what the average gain has been for the region since January 2011. Florida bounced back from its January decline with a net increase of 10,100 jobs. Georgia gave back part of its January jump by shedding a net 8,300 jobs. Month-to-month volatility in state jobs data is not uncommon, so we're not too worried about Georgia's February report, just like we didn't lose too much sleep over Florida's January decline. Other states in the region registered net increases in total employment in February.
Regional unemployment rates also continued to fall. All states in the Sixth Federal Reserve District saw declines in February except Louisiana, whose unemployment rate of 7 percent is already well below than national rate of 8.3 percent and the average for the region (8.7 percent). Importantly, declines in regional unemployment rates are a result of falling unemployment as opposed to a drop in the labor force.
While we would like to see faster growth in employment and further drops in unemployment rates, recent data appear to confirm that regional labor markets are continuing to heal.
By Mike Chriszt, a vice president in the Atlanta Fed's research department
TrackBack URL for this entry:
Listed below are links to blogs that reference Employment data point to continued regional recovery:
- Tiny Bubbles in Alabama
- Through the Eyes of a Big Fan
- Southeastern Manufacturing Sees No Shadow
- Southeastern Labor Market Continues Strengthening
- A New Year, a Better Economy?
- Florida's Economic Rebound Continues
- Charting Employer Sentiment in the Southeast
- O Manufacturing, Is Winter Thy Enemy?
- New Orleans Area Optimistic Heading into 2015
- Florida's Job Report Shines Bright
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax