Wednesday, August 2, 2000 |
County's
unemployment rate rises to 2.3 percent Fayette County's unemployment jumped last month, but state officials are saying the reason is students. The unemployment rate always goes up in the summertime, said State Labor Commissioner Michael Thurmond. The county's rate increased from 1.8 percent in May to 2.3 percent in June. Still, the state's overall rate is 4.1 percent, which is the lowest in recorded history. Thurmond said other factors contributed to the rise. Another factor that may have contributed is the Federal Reserve's policy of raising interest rates to contain wage inflation brought on by our labor shortage. The fed's policy is intended to offset the inflationary effect of employers having to compete for skilled workers by bidding up wages. Other neighboring counties' rates included: Clayton-3.9 percent. Fulton-4.0 percent. Henry-2.5 percent. Spalding-4.7 percent. Coweta-3.6 percent. |