President Biden takes credit for Georgia's employment boost
President Joe Biden in Atlanta on March 9, 2024.
ATLANTA - President Joe Biden is claiming credit for recent unemployment numbers in Georgia.
Georgia Labor Commissioner Bruce Thompson said last week that the state’s unemployment rate for May stood at 3.2%, a slight increase from April’s revised 3.1%. Despite this rise, Georgia's unemployment rate remains significantly below the national average. Thompson expressed optimism about the state's economic outlook.
"Confidence in Georgia’s job market isn’t the only thing hitting all-time highs – a record number of Georgians have returned to the workforce as well," he stated. Thompson commended Georgia businesses for creating more job opportunities amid national economic challenges and inflation.
On Tuesday, President Biden attributed those numbers to his economic policies.
"My economic plan is creating good-paying jobs in Georgia—more than 299,000 Georgians have gained jobs since I took office, and unemployment is 3.2%, lower than any time before I took office," Biden said.
He emphasized ongoing efforts to reduce costs for families by capping insulin prices, lowering health insurance premiums, addressing corporate price gouging, and advocating for congressional support to lower costs for renters and first-time homebuyers. Biden contrasted his vision with that of congressional Republicans, accusing them of prioritizing billionaires and special interests over ordinary Americans.
Georgia’s labor force reached a record high of 5,375,888, increasing by 18,768 over the month and 74,803 over the year. The labor force participation rate slightly rose to 61.6%. Employment also hit a new peak at 5,205,912, up by 14,311 for the month and 73,518 for the year. The employment-to-population ratio improved to 59.7%. Despite these gains, the number of unemployed Georgians increased by 4,457 to 169,976 over the month, reflecting an annual increase of 1,285.
Initial unemployment claims dropped by 7% to 20,034 in May and were down 16% from the previous year.