Jobless rate at a state low

Saturday, November 17, 2007

By BRIAN LAWSON

Times Business Writer brian.lawson@htimes.com

County comes in at 2.3 percent, second-lowest figure

Alabama's 3.1 percent unemployment rate for October was the lowest in state history.

Madison County's jobless rate also fell last month, to 2.3 percent, the second-lowest figure statewide. The county's unemployment rate was 2.7 percent in October 2006.

The all-time-low monthly unemployment rate for Madison County was 1.9 percent, recorded in December 1997 and again in April 1998.

The state's jobless rate last month fell from 3.7 percent in September and 3.6 percent in October 2006. The U.S. unemployment rate was 4.7 percent in October.

Employment gains in Alabama totaled 24,800 during the past 12 months, Gov. Bob Riley said in a news release Friday. Riley said the job numbers show the state's economic resilience, but he added that challenges lie ahead.

Riley cited rising oil prices and instability in the housing market and called on the Legislature to provide business incentives and tax relief.

Madison and Limestone counties added about 1,600 jobs last month, the Alabama Department of Industrial Relations reported Friday.

The gains were across the board, with 300 jobs in the information sector, 200 in warehousing and about 100 each in the retail, professional and scientific, financial and federal and local government sectors.

David Berkowitz, director of the Center for Management of Science and Technology at the University of Alabama in Huntsville, said an unemployment rate below 3 percent is approaching full employment - meaning that everyone who wants a job has one.

The challenge such a rate presents to employers is having to pay higher wages to attract workers.

Berkowitz said he is not hearing about a labor shortage from area employers, so job needs are still being filled. He said as more jobs come to this area, competition for good employees will increase.

"It becomes more difficult to fill jobs, especially with more specific skills required," he said.

Madison County had 3,796 people out of work last month, according to the state, with 163,856 people employed.

While most of the job news Friday was upbeat, first-time unemployment claims in Alabama rose by nearly 1,000 for the week ended last Saturday, compared with the same period last year. Madison County's initial jobless claims last week totaled 217, up 10 from a year ago.

Shelby County, south of Birmingham, recorded the state's lowest unemployment rate in October at 2 percent. Bullock County, east of Montgomery, had the highest jobless rate statewide at 8.1 percent.

The Huntsville Metropolitan Area, which includes Limestone County, had the lowest jobless rate last month among metro areas statewide at 2.3 percent. The Decatur metro area, which includes Lawrence County, had an unemployment rate of 2.7 percent, down from 3.4 percent in October 2006.

Among surrounding counties, the unemployment rate for October was 2.4 percent in Limestone, 2.5 percent in Marshall, 2.6 percent in Morgan and 3.2 percent in Jackson. In September, the most recent month available for Tennessee, the jobless rate in Lincoln County was 3.3 percent.



Jobless rate at a state low Saturday, November 17, 2007 By BRIAN LAWSON Times Business Writer brian.lawson@htimes.com County comes in at 2.3 percent, second-lowest figure Alabama's 3.1 percent unemployment rate for October was the lowest in state history. Madison County's jobless rate also fell last month, to 2.3 percent, the second-lowest figure statewide. The county's unemployment rate was 2.7 percent in October 2006. The all-time-low monthly unemployment rate for Madison County was 1.9 percent, recorded in December 1997 and again in April 1998. The state's jobless rate last month fell from 3.7 percent in September and 3.6 percent in October 2006. The U.S. unemployment rate was 4.7 percent in October. Employment gains in Alabama totaled 24,800 during the past 12 months, Gov. Bob Riley said in a news release Friday. Riley said the job numbers show the state's economic resilience, but he added that challenges lie ahead. Riley cited rising oil prices and instability in the housing market and called on the Legislature to provide business incentives and tax relief. Madison and Limestone counties added about 1,600 jobs last month, the Alabama Department of Industrial Relations reported Friday. The gains were across the board, with 300 jobs in the information sector, 200 in warehousing and about 100 each in the retail, professional and scientific, financial and federal and local government sectors. David Berkowitz, director of the Center for Management of Science and Technology at the University of Alabama in Huntsville, said an unemployment rate below 3 percent is approaching full employment - meaning that everyone who wants a job has one. The challenge such a rate presents to employers is having to pay higher wages to attract workers. Berkowitz said he is not hearing about a labor shortage from area employers, so job needs are still being filled. He said as more jobs come to this area, competition for good employees will increase. "It becomes more difficult to fill jobs, especially with more specific skills required," he said. Madison County had 3,796 people out of work last month, according to the state, with 163,856 people employed. While most of the job news Friday was upbeat, first-time unemployment claims in Alabama rose by nearly 1,000 for the week ended last Saturday, compared with the same period last year. Madison County's initial jobless claims last week totaled 217, up 10 from a year ago. Shelby County, south of Birmingham, recorded the state's lowest unemployment rate in October at 2 percent. Bullock County, east of Montgomery, had the highest jobless rate statewide at 8.1 percent. The Huntsville Metropolitan Area, which includes Limestone County, had the lowest jobless rate last month among metro areas statewide at 2.3 percent. The Decatur metro area, which includes Lawrence County, had an unemployment rate of 2.7 percent, down from 3.4 percent in October 2006. Among surrounding counties, the unemployment rate for October was 2.4 percent in Limestone, 2.5 percent in Marshall, 2.6 percent in Morgan and 3.2 percent in Jackson. In September, the most recent month available for Tennessee, the jobless rate in Lincoln County was 3.3 percent. © 2007 The Huntsville Times © 2007 al.com All Rights Reserved.