Metro Albany’s Unemployment Rate Rises to 6.6%
Thursday, March 24th, 2016
The Georgia Department of Labor announced today that Metro Albany’s unemployment rate for February was 6.6 percent, up four-tenths of a percentage point from 6.2 percent in January. The rate in February 2015 was 7.3 percent.
The rate rose as the number of unemployed residents increased by 219 to 4,358.
At the same time, the number of jobs in Albany increased by 300, or 0.5 percent, to 61,900 from 61,600 in January. Most of the increase came in state government and retail trade.
Over the year, Albany gained 1,000 jobs, a 1.6 percent growth rate, up from 60,900 in February 2015 Most of the job gains came in the private sector, including retail trade, construction, and other services, which include information technology, financial activities, professional and business services, and leisure and hospitality.
The number of initial claims for unemployment insurance declined by 227, or 29.7 percent, to 537 in February. Most of the decrease came in construction, manufacturing and administrative and support services. Also, over the year, claims were down by 23 or 4.1 percent, from 560 in February 2015.
Metro Gainesville had the lowest area jobless rate at 4.6 percent, while the Heart of Georgia-Altamaha and River Valley regions had the highest at 7.1 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for February was 5.4 percent, unchanged from January. It was 6.2 percent in February 2015.