The unemployment rate in Alabama fell to 2.7% in May, a record low, down from 2.8% in April and 3.6% in March. The state’s unemployment rate sits nearly a full percentage point less than the national rate for May, which is 3.6% according to the U.S. Department of Labor.
In a press release from Gov. Kay Ivey, she said Alabama is breaking records set only a month ago.
“We’re nearly a full percentage point below the nation’s unemployment rate,” Ivey said. “We’ve been consistently ranked as the having the lowest unemployment rate in the southeast, and our wages are growing at a remarkable pace.”
Ivey said wages have risen by 20% since May 2019.
Walker County’s unemployment rate in May rose to 2.5%, up from 2.2% in April but still down from 3.4% in March.
“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. I’d say these are all things to celebrate!”
This comes as the national unemployment rate has remained unchanged at 3.6% for the three consecutive months. It is down from 5.8% a year ago and 14.7% in 2020 at the height of the COVID-19 pandemic.
