Albany sees rise in May unemployment rate
Special Photo: ATC
From staff reports
ATLANTA — Georgia Labor Commissioner Bruce Thompson said Thursday that Albany recorded an unemployment rate of 4% in May, up seven-tenths of a percent over the month. A year ago, the rate was 3.5%.
“Despite an uptick in the unemployment rate, Georgia’s economy and job market remains red-hot while the number of claims remains relatively low — especially compared to the national numbers,” Thompson said in a news release. “While one month does not signal a trend, my administration will continue to keep a close eye on the labor market to identify any new developments.”
The labor force increased in Albany by 832 and ended the month with 65,358. That number went up by 606 when compared to May of 2022.
Albany finished the month with 62,713 employed residents. That number increased by 316 over the month and rose by 211 when compared to the same time a year ago.
Albany ended April with 63,500 jobs. That number increased by 700 from April to May and rose by 1,500 when compared to this time last year.
In May, initial unemployment claims increased by 14% in Albany. When May 2023 claims are compared to May 2022, claims were up by about 9%.
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