Atlanta Federal Reserve: Southeast employment up in May
Posted by Warm Southern Breeze on Monday, June 18, 2012
Slowly, but surely, the signs that our nation’s economy is improving are emerging.
They’re not rapid, they’re not massive, but they’re there.
And like a trickle that becomes a raging river, it’s beginning to rain.
District employment increases modestly in May
The Sixth District as a whole added 9,000 jobs in May, following 9,600 new payrolls in April, and 18,900 in March, according to the U.S. Bureau of Labor Statistics (BLS). Alabama, Florida, and Georgia recorded payrolls increases while Louisiana, Mississippi, and Tennessee reported payroll decreases. Georgia was primarily responsible for the net positive District increase.
The District unemployment rate was unchanged at 8.3 percent in May. The unemployment rate decreased in Florida and Mississippi and increased in Alabama, Louisiana, and Tennessee. The rate was unchanged in Georgia.
While the pace of job growth remained tepid in May and deeper declines in unemployment have been elusive, the region continues to slowly move in the right direction. Our business contacts continued to be conservative in their approach to hiring and appear likely to remain so—at least in the short term.
By Neil Desai, a senior analyst in the research department of the Atlanta Fed