According to The University of Alabama Center for Economic Research, Alabama’s economy is expected to grow by 2.4% in 2014, a slightly higher rate than the 1.9% rate of growth that occurred in 2013. Our state’s seasonally-adjusted unemployment rate increased to 6.7% at the end of the first quarter, which is slightly above March 2013’s rate of 6.6%.
However, the long-term trend in Alabama’s unemployment rate remains positive.
In more good news, Alabama’s economic development efforts earned several accolades worth noting. In a report released by Site Selection magazine, Alabama ranked seventh in the nation for the most new and expanded facilities per capita in 2013. Additionally, our state was recently recognized by Business Facilities magazine as “moving full speed ahead with a dynamic growth strategy that is rapidly transforming the state into an economic powerhouse.”
Source : Cushman & Wakefield