Total Views: 1233
| Jobless in Atlanta? Join the club |
 |
 |
 |
| Written by Ron Kaye |
| Friday, 27 August 2010 13:17 |
|
Good news, bad news on the job front in Atlanta metro area and Georgia state As the entire country struggles to recover from the Great Recession - or whatever it is that has caused such upheaval for the past couple of years - there's both good news and bad news in the Atlanta metropolitan area and the State of Georgia. The good news is that, according to the state labor department, metro Atlanta's jobless rate has dipped slightly to 10.2 percent in July, from 10.3 percent in June. The bad news is that the area's unemployment rate is right back to where it was in July of 2009, and it exceeds the statewide level of 9.9 percent. (For the record, this is the 34th consecutive month that Georgia has beaten the national unemployment average, which is currently 9.5 percent.) More bad news is that the slight drop in the jobless rate was most likely driven, at least in part, by dispirited job searchers who have given up the quest and are no longer officially counted among the unemployed. According to State Labor Commissioner Michael Thurmond, "Although the unemployment rate remained virtually unchanged, a growing number of discouraged workers dropped out of the workforce. For the second consecutive month, the number of jobs in our state declined, new layoffs increased, and long-term unemployment continued to rise." The number of unemployed workers in the Atlanta metro area is down to 271,118, a decrease of 950 from June, according to the labor department. While initial claims for unemployment insurance benefits in July dropped 6.8 percent from June, the number of payroll jobs in the metro area fell by 11,400. The labor department also reports that statewide, one out of two jobless workers has been unemployed for at least 27 weeks. Still, it's not all bad news. Though unemployment may rise - and home sales may fall -Atlanta's economy is on the verge of "quasi-growth" over the next two years, according to the Economic Forecasting Center at Georgia State University. Center Director Dr. Rajeev Dhawan said that widespread fears of a double-dip recession and deflation are unfounded, provided, that is, that the area doesn't see a sharp drop in home values. He added that what happens to home prices over the next few months will be critical to consumer confidence, which will affect consumers' spending decisions - particularly on big-ticket items - and will in turn signal CEOs about whether or not to step up their investments and hiring. In comparison to the doom and gloom that so often permeate reports and commentary on these topics, Dr. Dhawan's report was relatively optimistic. He predicts that although Georgia will only add about 5,000 jobs this year, the state will add 60,300 next year and more than 78,000 in 2012. However, he added, the statewide unemployment rate will remain above 9 percent. As with so many matters, this is perhaps one of those half-empty/half-full situations. For thousands of frustrated job seekers, however, the glass may be looking more than halfway empty right about now. Let's hope that Dr. Dhawan's optimism is well founded, or better yet, that Atlanta and the rest of the country experience real growth soon rather than just the "quasi" variety. Add this page to your favorite Social Bookmarking websites |
