Albany Sees Rise in February Unemployment Rate
Friday, March 31st, 2023
Georgia Labor Commissioner Bruce Thompson said Thursday that Albany recorded an unemployment rate of 4.1 percent in February, up one-tenth of a percent over the month. A year ago, the rate was 4.1 percent.
"Pro-growth policies that foster innovation and drive success are why Georgia remains the No. 1 state for business and a perennial powerhouse in talent development," said Commissioner Bruce Thompson. "Even with a slowing nationwide economy, communities across Georgia continue to thrive with low unemployment and high job growth."
The labor force increased in Albany by 44 and ended the month with 64,738. That number went down by 576 when compared to February of 2022.
Albany finished the month with 62,091 employed residents. That number increased by 6 over the month and fell by 556 when compared to the same time a year ago.
Albany ended February with 62,600 jobs. That number went up by 100 from January to February and increased by 1,000 when compared to this time last year.
Historically, claims increase every January due to temporary seasonal manufacturing shutdowns and the retail sector shedding workers hired for the holiday season. In February, initial unemployment claims decreased by 31 percent in Albany, dropping back to normal levels. When you compare February 2023 claims to February 2022, claims were down by about 20 percent.