Jobless rate in state hits 15-year high
15 Aug 2008
The Atlanta Journal-Constitution Georgia's jobless rate climbed last month to 6.2 percent -- its highest level in more than 15 years, according to the state Department of Labor. The jump, from 5.6 percent in June and from 4.4 percent in July of last year, puts the state above the national rate of 5.7 percent. Unfortunately, the news will probably get worse before getting better, said Don Sabbarese, director of the Econometric Center at Kennesaw State University. "It is kind of nasty-looking right now," he said. "It is really hard to find some positive stuff." Even exports -- which have been a bright light -- could suffer since growth of many European economies seems to be slowing, he said. (Also: Georgia’s jobless rate highest in 15 years.)
The Atlanta Journal-Constitution
Georgia's jobless rate climbed last month to 6.2 percent -- its highest level in more than 15 years, according to the state Department of Labor.
The jump, from 5.6 percent in June and from 4.4 percent in July of last year, puts the state above the national rate of 5.7 percent.
Unfortunately, the news will probably get worse before getting better, said Don Sabbarese, director of the Econometric Center at Kennesaw State University.
"It is kind of nasty-looking right now," he said. "It is really hard to find some positive stuff." Even exports -- which have been a bright light -- could suffer since growth of many European economies seems to be slowing, he said.
(Also: Georgia’s jobless rate highest in 15 years.)