Initial Unemployment Claims
Preliminary initial unemployment claims for the week ended October 16th were 44,035, which is down 10,131 claims, or -19%, from the revised initial unemployment claims number of 54,166 for the previous week, ending October 9th.
This brings initial claims back to the number they were at two weeks ago, after an increase last week. Overall, claims have been steadily declining since May 9th, but the decline appears to be slowing down over the past several weeks.
The highest weekly claims were filed the week ended April 4th, at 390,130. Just three weeks earlier, claims were at 5,447 for the week ended March 14th.
Preliminary insured unemployment for the week ended October 9th was at 369,339. This is down 40,263 from the previous week’s revised insured unemployment number of 409,602 for the week ended October 2nd, a 10% decrease.
Insured unemployment is also referred to as continued claims, which occur when an individual has already previously filed an initial claim, experienced another week of unemployment, and is now filing a continued claim to claim benefits for that week of unemployment.
Most Improved Industries this Week
The industries in Georgia are said to improving when they see declines in initial unemployment claims since last week. The following are the most improved since last week:
- Manufacturing: 2,326 less new claims (a 43% decrease since last week).
- Transportation and Warehousing: 1,207 less new claims (a 35% decrease since last week).
- Administrative and Support and Waste Management and Remediation Services: 1,078 less new claims (an 18% decrease since last week).
Most Declining Industries this Week
The industries with the largest increases in weekly initial unemployment claims are said to be declining.
This week, every single industry saw a reduction in number of claims since last week.