From The Tribune staff reports
MONTGOMERY — Governor Kay Ivey on Friday announced that Alabama’s preliminary, seasonally adjusted May unemployment rate is 2.7%, a new record low, down from April’s rate of 2.8%, and nearly a full point lower than May 2021’s rate of 3.6%.
“Once more, we are seeing the resiliency of Alabama’s workforce,” said Governor Ivey. “Yet again, we’re breaking records that were set only a month ago. We’re nearly a full percentage point below the nation’s unemployment rate, we’ve been consistently ranked as the having the lowest unemployment rate in the southeast, and our wages are growing at a remarkable pace.”
May’s rate represents 61,621 unemployed persons, a new record low, compared to 63,184 in April and 80,191 in May 2021. Additionally, the number of people counted as employed grew to 2,222,977 in May, a new record high. This represents an increase from 2,213,187 in April, and an increase from 2,169,710 in May 2021.
Alabama’s average weekly earnings grew to a new record high of $1,004.65 in May, up from $995.44 in April, and $978.06 in May 2021.
“All of the elements needed for positive economic growth continue to improve and are consistently breaking records,” said Alabama Department of Labor Secretary Fitzgerald Washington. “This prolonged growth bodes well for Alabama. More people have joined the labor force than at any other time this year, showing that people have confidence in their ability to find a job. More people are working, and fewer people are unemployed than ever before.”