Alabama unemployment rate falls for second time in quarter

Published 8:12 pm Wednesday, May 30, 2007

By Staff
Alabama's unemployment rate in April fell to 3.3 percent, slightly less than the 3.4 percent recorded in March.
Employment in April grew by 5,700 over the previous month.  Over the past 12 months, employment in Alabama has grown by 30,800.
Gov. Bob Riley said Alabama's good economic fortune can continue if voters approve a constitutional amendment on June 5 to increase the limit on the state's economic incentives fund.
The constitutional amendment that goes before voters on June 5 was unanimously approved by the Legislature during a special session in February.  
It raises the current $350 million limit on the Capital Improvement Trust Fund to $750 million.  This increase is necessary for Alabama to continue offering economic incentives.
The Capital Improvement Trust Fund is funded from royalties paid to the state by oil and gas companies that operate off Alabama's coast.
Neal Wade, director of the Alabama Development Office, said the June 5 vote was critical to Alabama's future.  

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