The unemployment rate in Alabama ticked up slightly from November to 2.8% and the labor force participation rate declined slightly from November to 57% in December, according to workforce statistics released by the Alabama Department of Labor on Friday.
America’s labor force participation rate has fallen for two decades, with large drops during the Great Recession and COVID-19 pandemic. Alabama’s rate trails the national average, potentially hamstringing our economy.
According to new statistics from the Federal Reserve Economic Data (FRED) for July 2022, Alabama had the sixth lowest labor participation rate in the country, despite recently announcing record unemployment.
“For the third consecutive month, Alabama has set a record-low unemployment rate," announced Gov. Kay Ivey (R).
“Yet again, we’re breaking records that were set only a month ago," said Gov. Kay Ivey. "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.”
By Brandon Moseley The U.S. Department of Labor released the November jobs report Friday and while the economy grew jobs, it failed...