Wednesday, February 20, 2002
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Wednesday, February 20, 2002 |
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Next week's unemployment figures could show if the county's in recover Local economic gurus are anxiously awaiting the release next week of the state's unemployment rate to see if signs are pointing toward the end of the recession. Last month, the Georgia Department of Labor announced metro Atlanta's unemployment rate rose to 4.1 percent in December, up from 3.9 percent in November. Fayette County's rate mirrored the state's trend, as the county's rate rose from 2.2 percent in November to 2.4 percent in December. The county's jobless rate has jumped exactly one point since December 2000. As the year began, Fayette County learned that OfficeMax would soon be closing its store at the Fayette Pavilion and Cub Foods also closed its doors in Fayetteville late last year. Year-end figures from the department show that from September through December, metro Atlanta lost about 15,000 jobs in the transportation and hospitality industries, including those at the airlines, hotels and restaurants. That job loss represents 57.5 percent of the 25,900 jobs lost in metro Atlanta during that same three-month period. In December, Georgia's unemployment rate rose to 4.2 percent, up from 4.1 percent in November. The state's jobless rate was 3 percent in December 2000. "Georgia's economy is being negatively impacted by the Sept. 11 terrorist attacks and has not yet turned the corner," said state Labor Commissioner Michael Thurmond. "This news is hard evidence that additional economic stimulus is badly needed. Congress should act expeditiously to provide the assistance necessary to rejuvenate our economy," he said. "The stimulus package should include an extension of unemployment insurance benefits, assistance for health insurance and targeted tax cuts that will spur capital spending and create jobs," he added. "In Georgia," he said, "more than 72,000 unemployed workers have exhausted their benefits and may be eligible for additional assistance."
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