Albany’s Unemployment Rate Rises to 8.4% in May

Staff Report From Albany CEO

Thursday, June 26th, 2014

The Georgia Department of Labor announced today that Metro Albany’s unemployment rate increased to 8.4 percent in May, up eight-tenths of a percentage point from 7.6 percent in April. The rate was 9.1 percent in May a year ago.

The rate increase was seasonal, as new graduates entered the labor force looking for full-time work, while other students searched for part-time summer jobs. The labor force rose by 243, up to 71,622 in May from 71,379 in April.

Over the month and year, the number of jobs decreased by 100, or 0.2 percent, to 60,800 in May from 60,900 in April and May 2013. Most of the job losses came in government.

Also, there were 746 new claims for unemployment insurance filed in May, a decrease of 597, or 44.5 percent, from 1,343 in April. Most of the decrease in claims came in manufacturing. There were 1,479 claims filed in May 2013.

Metro Athens had the lowest area jobless rate at 5.7 percent, while the Heart of Georgia-Altamaha region had the highest at 9.8 percent.

Meanwhile, Georgia’s seasonally-adjusted unemployment rate for May was 7.2 percent, up from 6.9 percent in April. The rate was 8.4 percent in May a year ago.