The Georgia Department of Labor announced today that Metro Albany’s unemployment rate for August was 7.4 percent, down five-tenths of a percentage point from 7.9 percent in July. The rate in August 2014 was 9.2 percent.

The rate declined as the number of unemployed residents decreased by 403 to 4,682. Also, the number of initial claims for unemployment insurance declined by 89, or 14.5 percent, to 524 in August. Most of the decrease came in retail trade, educational services, and accommodations and food services. Over the year, claims were down by 14, or 2.6 percent, from 538 in August 2014.     

The number of jobs in Albany was unchanged at 59,700 from July to August. However, over-the-year, Albany lost 700 jobs, or 1.2 percent, from 60,400 in August 2014. Most of the job loss came in state government and retail trade. 

Metro Gainesville had the lowest area jobless rate at 4.8 percent, while the Heart of Georgia-Altamaha region had the highest at 7.7 percent.  

Meanwhile, Georgia’s seasonally-adjusted unemployment rate for August was 5.9 percent, down from 6.0 percent in July. It was 7.1 percent in August 2014.