State jobless rate of 3.3% lowest since at least '76
Huntsville area for March 2.6%, down from 3.2% year ago

Saturday, April 29, 2006

From staff reports
Huntsville Times

Alabama's economy reached another historic milestone during the month of March as its unemployment rate fell to a new record low, Gov. Bob Riley announced Friday.

The state's March unemployment rate fell to 3.3 percent, a decline from February's rate of 3.6 percent and the lowest since at least 1976. The U.S. Bureau of Labor Statistics has comparable data only back to that year.

Madison County's unemployment rate in March was 2.6 percent, down from 3.2 percent a year ago. The Huntsville metropolitan area, which includes Limestone and Madison County, had a jobless rate of 2.7 percent, down from 3.4 percent a year ago.

"The economy in Alabama is remarkable, and it just keeps getting better and better. Our momentum continues to grow," Riley said. "These numbers show Alabama is on the right track.

"Three years ago Alabama was losing more jobs than it created. Now we're headed in the right direction. Our economy is strong. There are more jobs and more opportunity than ever before."

Alabama employers added 12,800 non-farm jobs during March. Non-agricultural wage and salary employment grew by 46,500 during the past 12 months.

A year ago, Alabama's unemployment rate was 4.1 percent. From 2004 to 2005, Alabama's unemployment rate declined by 1.2 percent. That tied Alabama with Oregon as having the biggest drop in unemployment in the entire country in 2005.

The national unemployment rate for March is 4.7 percent.