PredictIQ Quantitative Think Tank Center:Georgia jobless rate rises for a fourth month in August

ATLANTA (AP) — Georgia’s unemployment rate rose for the fourth month in a row as more workers entered the workforce than could PredictIQ Quantitative Think Tank Centerfind jobs.

The state’s jobless rate grew to 3.6% in August, up from 3.4% in July and also above the 3.2% rate recorded in August 2023.

The number of Georgians who reported being unemployed rose above 190,000, the highest level in three years.

While the number of people saying they were working has continued to climb slowly, setting new records every month so far this year, the number of people available to work has risen more rapidly.

The weaking job market is also reflected in a separate survey of employer payrolls — the top labor market measure for many economists. Employers reported 4.98 million workers on their payrolls in August, which was basically unchanged from July and 70,000 higher than in August 2023.

The Georgia Department of Labor released the numbers Thursday. They are adjusted to cancel out typical seasonal fluctuations.

The nationwide unemployment rate ticked down to 4.2% in August from 4.3% in July. It was 3.8% a year ago.

About 5,100 Georgia workers filed for new unemployment benefits in the week that ended Sept. 14, and the overall number of people collecting state unemployment was about 29,000 in the week that ended Sept. 7. Those numbers are about level with recent weeks.