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WASHINGTON, D.C. (WIAT) – On Friday, an unemployment report revealed that there are three unemployed people for every position waiting to be filled.
The unemployment report shows the economy added 195,000 jobs in June, which is better than many economists expected.
However, the unemployment rate didn’t budge.
The rate remains at 7.6 percent, likely because more people who were out of work began looking for jobs again.
There is concern on Wall Street that if the report was too good, the Federal Reserve would raise interest rates, causing stocks to slide.
Alabama’s unemployment rate for May was 6.8 percent.
That figure comes out to 147,788 people out of work in the state.
The June report is set to be released later in the month.
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