WalletHub study: Alabama ranks high with job opening rates
As the economy continues to recover from the effects of the COVID-19 pandemic, the financial website WalletHub explained how some employers are having a difficult time filling all their positions with a surge in job openings. That includes Alabama.
WalletHub stated that millions of Americans are quitting their jobs each month in the face of high inflation. Analysts looked at the 50 states based on how frequently people are leaving these jobs as well as job opening numbers to come up with the new study: 2023’s States With the Highest Job Resignations Rates.
Jill Gonzalez is an analyst with WalletHub. She said Alabama ranked near the top of the findings. “Alabama is in the Top 15 as far as job openings rate. Right at number 15,” Gonzalez stated. "Right now, the job openings rate is about 2.9%. And for context, in Kentucky it is 3.6% at the highest, and Massachusetts is the lowest at 1.5%. So, Alabama is almost double,” she explained.
WalletHub says Alabama’s resignation rate has decreased over the past month in comparison to the higher rates in the last year with people quitting their jobs.
“I think in the short term, it means people are ready to go back to the workforce,” said Gonzalez. “It is also Springtime and Summer is coming around. So, Alabama definitely has a lot of seasonal opportunities in terms of work.”
The study also described the desire to get away from careers that are impacted by COVID-19 as being called the “Great Resignation.” Wallet Hub said that this gives new applicants a lot of leverage.
Gonzalez mentioned this is affecting certain industries, including in Alabama.
“In nearby service industries like restaurants you might have noticed longer wait times. So, a lot of it has to do with the disruptions especially when you are out and about,” she explained.
This week, Governor Kay Ivey announced Alabama’s preliminary, seasonally adjusted February unemployment rate is 2.5%.
A press release from the governor's office says this ties the all-time record low, down from January 2023’s rate of 2.6%, and below February 2022’s rate of 2.6%.
February 2023’s rate represents 56,221 unemployed persons, a new record low, compared to 58,392 in January 2023 and 58,943 in February of 2022.