NEWS BRIEF: Georgia announces lowest-ever unemployment rate plus increased wages and inflation
Rise in work force — and inflation
The March unemployment rate in Georgia dropped to an all-time low of 3.1 percent, five-tenths of a percent lower than the national March 2022 rate of 3.6, the Department of Labor announced Thursday.
"Wages and benefits are having to be increased because of a very tight labor market, and we are now seeing the highest number of Georgians ever employed and participating in the workforce," Labor Commissioner Mark Butler said. “And with a record number of jobs being created, we have a situation where this will continue to be the case for the immediate future."
The downside is a rise in inflation, Butler added. "The cost of labor is being recouped by rising costs for consumers, which is one of the major drivers causing our current increase in inflation. Inflation will be long-lasting, if not permanent, when driven by an increase in wages." dol.georgia.gov