Published: Wed, March 14, 2018
Economy | By

Alabama unemployment rate drops to 3.7 percent

Alabama unemployment rate drops to 3.7 percent

The state added 10,500 jobs over the month and 150,000 over the year, paralleling national gains.

The recalculations showed for the fourth consecutive year that the jobless rate wasn't quite as improved as initially thought for much of 2017.

The January 2018 rate also was well below the U.S. rate, which was unchanged at 4.1 percent, the U.S. Labor Department said. Both have stayed in place since then.

Maryland gained almost 13,000 jobs in January as the unemployment rate remained steady at 4.1 percent, the U.S. Labor Department said Monday.

When people stop looking for work, they are no longer considered unemployed for the objective of calculating the jobless rate, thus lowering the rate. The increase in home prices and the number of homes sold resulted in an additional $500 million in home sales, up 10.9 percent from January 2017.

Statewide and month over month, real estate, rental and leasing saw the heaviest proportional job losses, at 1.3 percent of that workforce or 2,400 jobs, though the sector saw a 3.8 percent improvement over the year. So those states have not enjoyed unemployment so low in at least 42 years.

Pulaski County's was 3.7 percent, reflecting an estimated 227 people out of work and a labor force of 6,087. Other industry gains this month included education, construction, accommodations and food services, and finance and insurance.

Florida's housing market also remains strong as median home prices rose $20,000 across the state in the past year.

The largest decline was in professional and business services, which lost 2,300 jobs.

Vermont Labor Commissioner Lyndsay Kurrle says the limiting factor of economic growth in the state is the labor force.

The number of nonfarm payroll jobs increased by 7,100 to 2,693,900 jobs while total employment increased by 4,000 to 2,942,000, according to the Colorado Department of Labor and Employment.

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