Albany unemployment hits 18 year low
Albany metropolitan statistical area unemployment has hit a new low of 4.2%, the best in nearly 18 years.
The May unemployment rate fell to 4.2 percent, tying a low previously set in November 2000. This is down 0.1 percent from the previous month and down from 5.5 percent one year ago.
“Georgia’s employment numbers remain strong,” said Georgia Department of Labor Commissioner Mark Butler said. “Across the state, the unemployment rate either remained steady or dropped.”
Other statistics released by the department include:
- Albany added 200 jobs for the month, pushing its total to 63,200. This puts Albany up 500 jobs for the year.
- The number of employed also increased in May. Albany gained 428 employed residents. At 65,842 total employed residents, Albany is up by 1,633 for the year.
- The labor force saw gains in May. It grew by 379 to 68,740 in May, a gain of 810 for the year.
- Initial claims for unemployment grew by about 4 percent for the month and are up by about 5 percent from last year.