According to numbers released by the Department of Labor, the state of Georgia remains above the national average of 6.7 percent to log a 7.5 percent unemployment rate. This is the highest rate in the state since Reagan was in the White House.
Read excerpts of the Atlanta Journal-Constitution article about the latest news:
It is the highest rate in more than 25 years, the state Labor Department said Thursday.
The rate has climbed a full 3 percentage points from a year ago, when it was 4.5 percent. It was 6.9 percent in October.
“Job losses are accelerating throughout most of the state’s economic sectors, with the exception of healthcare, education, and the federal government,” State Labor Commissioner Michael Thurmond said in a press release. “Although it may be difficult to find a job in this environment, it is not impossible.”
Georgia’s jobless rate has been running above the national rate, currently 6.7 percent, for the past several months.
The Labor Department said 365,244 Georgians are currently looking for work.
Over the last year, the agency said, the number of payroll jobs decreased 94,400 or 2.3 percent.
That includes 67,400 jobs lost in metro Atlanta, a 2.7 percent decline.
Manufacturing, construction, and trade, along with administrative and support services, including temporary employment agencies, were especially hard hit, the labor department said.
One should note, the jobless rate doesn't include people who are no longer looking for work! So it is probable the the unemployment rate is significantly higher since people tend to stop reporting their jobless status after a few months. Some have said that in some communities, the rate may be over 10 percent.
plez sez: this is tough news to be receiving the week before christmas. plezWorld is really feeling the crunch, as i was downsized six months ago and have only received scant nibbles from organizations that may be looking to hire. very few people are hiring these days.
coming on the heels of the news about the chrysler shutdown next week, the failed big three automakers bailout, the continued credit crunch in spite of the wall street bailout, and news that our economy started grinding to a halt 12 months ago... it appears this recession is going to live up to the expectations that it will be long in duration and cut deep into our economy.
Read the Atlanta Journal-Constitution article about the high unemployment rate in Georgia.
Check out the Georgia Department of Labor website.