Albany’s Unemployment Rate Drops in May
Friday, June 26th, 2020
Georgia Labor Commissioner Mark Butler said Thursday that Albany’s unemployment rate decreased in May.
Due to the effects of COVID-19, all MSA’s continue to see stinted yearly growth, yet monthly gains in nearly all major sectors are beginning to spike.
“The fact that almost every single monthly indicator in May’s job market report was positive shows great promise to Georgia’s economy up ahead,” said Commissioner of Labor Mark Butler. “Seeing these monthly numbers begin to increase means that we are definitely heading back in the right direction.”
In Albany, the unemployment rate decreased 2.6 percentage points in May, reaching 8.6 percent. A year ago, the rate was 4.1 percent.
Albany ended May with 57,900 jobs. That number increased by 800 from April to May but was down by 5,000 when compared to this time last year.
The labor force increased in May by 395 and ended the month with 63,146. That number is down 3,071 when compared to May of 2019.
Albany finished the month with 57,690 employed residents. That number increased by 1,966 over the month but is down by 5,798 when compared to the same time a year ago.
The number of unemployment claims went down by 37 percent in May to 10,872. When compared to last May, claims were up by about 2,489 percent.
Employ Georgia, the GDOL’s online job listing service at employgeorgia.com showed about 636 active job postings in metro Albany for May.