Alabama’s May Unemployment Rate Drops to 3.4% — Post-Pandemic Rate at Lows; Record High Wages
June 21, 2021
Alabama’s post-COVID pandemic economic recovery seems to be humming along based on data released Friday by the Alabama Department of Labor.
According to a press release, Department of Labor Secretary Fitzgerald Washington revealed Alabama’s preliminary, seasonally adjusted May unemployment rate is 3.4%, down from April’s rate of 3.6%.
The 3.4% rate tops the May 2020 number of 7.9%.
“May’s rate represents 75,458 unemployed persons, compared to 79,319 in April and 174,680 in May 2020,” the release said. “May’s unemployed count is the lowest in 2021.”
“Our record-breaking streak is continuing in May, and we hope that it continues throughout the rest of the year,” Gov. Kay Ivey said in the statement. “Yet again, we’ve dropped our unemployment rate and each month we are getting closer and closer to our pre-pandemic record low unemployment rate of 2.6%. Our economy is adding jobs, and earlier barriers to joining the workforce have been significantly reduced. In fact, there are more job postings than there are people counted as unemployed! Alabama is, once again, open for business.”
Data showed that wage and salary employment grew last month by 4,700.
“Monthly gains were seen in the leisure and hospitality sector (+5,000), the trade, transportation, and utilities sector (+2,500), and the education and health services sector (+1,200), among others. Over the year, wage and salary employment increased 123,000, with gains in the leisure and hospitality sector (+37,100), the professional and business services sector (+23,000), and the manufacturing sector (+22,900), among others,” the release said.
Average weekly earnings for the private sector rose to a new record high of $974.12, up $66.91 over the year, according to the Department of Labor.
“As we continue to see improvement in nearly all sectors of the economy, we’re also seeing record high wages in Alabama,” Washington added. “Once again, our average weekly wages are at new record high, representing an almost $67 per week over-the-year increase. Both the leisure and hospitality and manufacturing sectors are showing record high wages as well, with significant yearly increases. The economy is responding as we expected to labor force fluctuations brought about by the pandemic.”
Broken down by county, Shelby County led the way with a rate of 1.8%, followed by Blount, Marshall, Franklin and DeKalb Counties.
Wilcox County topped the highest in the state with an unemployment rate of 8.8%.
When broken down by municipalities, Alabaster had the lowest rate at 1.7%. Selma had the state’s highest, coming in at 7.0%, followed by Prichard at 6.5% and Bessemer at 5.2%.
Source: Alabama’s May Unemployment Rate Drops to 3.4% — Post-Pandemic Rate at Lows; Record High Wages Yellowhammer News (June 18, 2021) Jeff Poor