Metro Albany’s Unemployment Rate Declines to 5.6%
Thursday, June 23rd, 2016
The Georgia Department of Labor announced today that Metro Albany’s unemployment rate for May was 5.6 percent, down four-tenths of a percentage point from 6 percent in April. The rate in May 2015 was 7.2 percent.
The rate declined as the number of employed residents rose by 426 and Albany’s labor force increased by 187 to 66,237.
The number of jobs was unchanged at 62,300 from April to May. However, over the year, Albany gained 1,700 jobs, a 2.8 percent growth rate, up from 60,600 in May 2015. Most of the job gains came in trade, transportation and warehousing and other service-related industries, along with manufacturing.
The number of initial claims for unemployment insurance rose by 208, or 32.1 percent, to 855 in May. Most of the increase came in manufacturing. And, over the year, claims were up by 308, or 56.3 percent, from 547 in May 2015.
Metro Gainesville had the lowest area jobless rate at 3.8 percent, while the Heart of Georgia/Altamaha region had the highest at 6.1 percent.
Meanwhile, Georgia’s seasonally-adjusted unemployment rate for May was 5.3 percent, down from 5.5 percent in April. It was 5.9 percent in May 2015.
Job seekers and employers are encouraged to use the GDOL’s online job listing service, www.employgeorgia.com to search for jobs or recruit new employees. In May, 587 jobs in Albany were posted on Employ Georgia. Throughout the state, 63,508 jobs were posted.
Local area unemployment data are not seasonally adjusted. Georgia