Anyone who is following Alabama's ongoing budget crisis knows that the state is slashing funds for basic human services to try and make ends meet. Despite borrowing $437 million in 2012 to close budget shortfalls for the ensuing three years, Gov. Robert Bentley still hasn't managed to solve Alabama's budget problems, which are having an economic ripple effect throughout the state.
In an unexpectedly downbeat jobs report, employers added only 38,000 jobs last month, the worst month for job gains since employment started recovering in 2010. Downward revisions trimmed the employment gains for the prior two months by 59,000, and the labor force participation rate fell again in May, as it had in April.