Everyone has their eyes on the economy these days, specifically the unemployment numbers, and it appears that for the Birmingham-Hoover metro area, there’s a little bit of light at the end of the tunnel.
The Birmingham News reported that the July unemployment rate was 9 percent, down from 10 percent the month prior, according to state officials. All seven counties in the area saw a drop.
Also, Alabama’s jobless rate, which hit 11.2 percent in January, is now at 9.7 percent — a number not seen since April 2009.
The Birmingham News talked to Ahmad Ijaz, an economic researcher at the University of Alabama, who had this to say:
“Although some sectors of the economy are still shedding workers, most private businesses have begun to add workers, albeit at a very modest pace. We still need to be cautious about month to month fluctuations in jobs numbers, even though the economy is recovering from the severe downturn.”
John Norris, an economist with Birmingham’s Oakworth Capital Bank, told the Birmingham News that he’s hesitant to talk about a recovery based on these recent numbers.
“If the numbers are accurate, the Birmingham MSA really bucked the national trend,” Norris said, noting the U.S. jobless rate remained unchanged at 9.5 percent in July. “It appears to be almost too good to be true. I will be curious to see what the August numbers tell us before I make a concrete decision on the health of the local labor markets.”
If you’re wondering how Dale Carnegie Training might help your company bounce back, please contact us!