Albany sees job, labor force growth in May
Georgia Labor Commissioner Bruce Thompson has reported that Albany recorded an unemployment rate of 4.1% in October, up one-tenth of a percent over the previous month.
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ATLANTA — Georgia Labor Commissioner Bruce Thompson said that Albany recorded an unemployment rate of 4.1% in May, up seven-tenths of a percent over-the-month. A year ago, the rate was 4.0%.
“We are witnessing a shift within Georgia’s retail sector and several major industries as companies change the way they do business,” Thompson said. “Alongside these industry changes, there is a growing influx of students and recent college graduates entering the job market, pursuing both temporary and full-time employment. This seasonal increase in work force participation significantly impacts summertime unemployment rates across communities statewide.”
The labor force increased in Albany by 499 and ended the month with 65,285. That number went up by 1,688 when compared to May of 2023.
Albany finished the month with 62,639 employed residents. That number increased by 82 over the month and went up by 1,578 when compared to the same time a year ago.
Albany ended May with 63,000 jobs. Jobs increased by 200 over-the-month and were up by 1,600 over-the-year.
In May, initial unemployment claims increased by 77 (27%) in Albany. When compared to May 2023, claims were up by 38 (12%).
For more information on jobs and current labor force data, visit Georgia LaborMarket Explorer to view a comprehensive report.
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