Albany unemployment rate drops in February

ATLANTA -- Georgia Labor Commissioner Bruce Thompson said in a news release that Albany recorded an unemployment rate of 3.6% in February, down one-tenth of a percent over the month. A year ago, the rate was 4.2%.

“Georgia continues to thrive, fueled by a powerhouse work force and savvy economic investments,” Thompson said. “For the past 48 months and counting, Georgia has continued to outshine the nation with low unemployment and high-quality jobs. Our regional unemployment numbers are a testament to this remarkable track record of success and Georgia’s ability to drive economic opportunity across virtually every corner of the state.”

The labor force increased in Albany by 126 and ended the month with 63,940. That number went down by 1,085 when compared to February of 2023.

Albany finished the month with 61,617 employed residents. That number increased by 150 over the month and went down by 708 when compared to the same time a year ago. The city ended February with 61,800 jobs. Jobs decreased by 100 over the month and were down by 1,400 over the year.

In February, initial unemployment claims decreased by 102 (-25%) in Albany. Compared to February 2023, claims were up by 31 (11%).

Thompson said that all of Georgia’s Regional Commissions experienced unchanged or declining unemployment rates:

Atlanta Regional Commission: The unemployment rate remained unchanged at 3.0% over the month; the rate was 3.3% one year ago. The labor force was up 19,663 over the month and up 34,101 over the year, to 2,698,638, an all-time high.

Central Savannah River: The unemployment rate was down one-tenth to 3.8% over the month; the rate was 4.1% a year ago. The labor force was up 1,068 over the month and up 1,147 over the year, to 209,296.

Coastal Georgia: The unemployment rate remained unchanged at 2.8%; the rate was 3.2%t one year ago. The labor force was up 2,498 over the month and up 6,620 over the year, to 353,704, an all-time high.

Georgia Mountains: The unemployment rate remained unchanged at 2.6%; the rate was 2.9% one year ago. The labor force was up 2,522 over the month and up 9,268 over the year, to 253,274.

Heart of Georgia: The unemployment rate was down one-tenth to 3.5%; the rate was 4.0% one year ago. The labor force was up 992 over the month and up 3,105 over the year, to 120,967.

Middle Georgia: The unemployment rate remained unchanged at 3.3%; the rate was 3.7% one year ago. The labor force was up 1,082 over the month and up 1,304 over the year, to 216,821.

Northeast Georgia: The unemployment rate was down one-tenth to 2.9%; the rate was 3.1% one year ago. The labor force was up 2,517 over the month and up 8,587 over the year, to 337,906, an all-time high.

Northwest Georgia: The unemployment rate was down three-tenths to 2.9%; the rate was 3.3% one year ago. The labor force was up 2,354 over the month and up 7,134 over the year, to 444,693, an all-time high.

River Valley: The unemployment rate was down two-tenths to 3.7%; the rate was 4.3% one year ago. The labor force was up 822 over the month and up 2,481 over the year, to 144,916.

Southern Georgia: The unemployment rate was down one-tenth to 3.3%; the rate was 3.7% one year ago. The labor force was up 1,353 over the month and up 2,162 over the year, to 179,679.

Three Rivers: The unemployment rate was down one-tenth to 2.9%; the rate was 3.2% one year ago. The labor force was up 1,774 over the month and up 4,040 over the year, to 263,467, an all-time high.