Metro Albany’s Unemployment Rate Declines to 6.5%
Thursday, April 21st, 2016
The Georgia Department of Labor announced today that Metro Albany’s unemployment rate for March was 6.5 percent, down one-tenth of a percentage point from 6.6 percent in February. The rate in March 2015 was 6.9 percent.
The rate declined as the number of employed residents increased by 362 to 62,251.
However, the number of jobs decreased by 200, or 0.3 percent, to 61,700 from 61,900 in February. Most of the decrease came in trade, transportation and warehousing.
Over the year, however, Albany gained 800 jobs, a 1.3 percent growth rate, up from 60,900 in March 2015. Most of the job gains came in the service-related industries such as retail trade and the goods-producing sector, which includes manufacturing and construction.
The number of initial claims for unemployment insurance increased by 45, or 8.4 percent, to 582 in March. Most of the increase was in manufacturing. And, over the year, claims were up by 13, or 2.3 percent, from 569 in March 2015.
Also, Albany’s labor force increased by 326 to 66,565.
Metro Gainesville had the lowest area jobless rate at 4.5 percent, while the River Valley region had the highest at 6.9 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for March was 5.5 percent, up from 5.4 percent in February. It was 6.2 percent in March 2015.
State Labor Commissioner Mark Butler said job seekers and employers should use the GDOL’s online job listing service, www.employgeorgia.com to search for jobs or recruit new employees. In March, 989 jobs in Albany were posted on Employ Georgia. Throughout the state, 78,986 jobs were posted.
Local area unemployment data are not seasonally adjusted. Georgia labor market data are available at www.dol.georgia.gov.