The Center for Business and Economic Research at the Culverhouse College of Business (CBER) has issued its Alabama economic forecasts for May 2019.
The state’s economy is forecasted to grow by approximately 1.9 percent in 2019, just slightly below the 2.0 percent growth in 2018. Total nonfarm employment in the state is forecasted to increase by about 1.4 percent in 2019, slightly below the 1.5 percent growth seen last year.
In addition to the forecasts, the newsletter provides an overview of workforce trends in Alabama. Trends such as aging and the generational shift are having a significant impact on employers and are expected to continue influencing organizations in the future.
Overall, even though Alabama total population is projected to increase from almost 4.8 million in 2010 to 5.1 million in 2030, working age population (15 to 64 years) is expected to decline by 1.3 percent or by almost 42,400 people.