Published Friday, November 16, 2012
The post-election economic news has not been good. There are big concerns about the “fiscal cliff” and how a still seemingly stalemated Washington will resolve the tax cut/spending cut “cliff” issue between now and the end of the year. The stock market has taken notice of this and other issues, like the continuing problems in Europe, and has been sliding.
On Thursday, Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University, painted a dim picture of the state’s economic recovery for 2013. The good news -- he forecasts “2014 will be fabulous.”
In 2014 he forecasts enough jobs growth to speed up the economic recovery and allow us to hopefully forget the great recession.
While Dhawan says we are another year away from significant recovery, there was a tad of good news coming from the Georgia Labor Department Thursday which reported Georgia’s unemployment declined to 8.7 percent in October. That was down from 9 percent in September and 9.7 percent a year ago.
The monthly report said 36,000 new jobs were created during the month, which “is the largest September to October job increase ever,” said Labor Commissioner Mark Butler. “That job growth pushed the number of jobs in October to the highest level in any month since December 2008.”
While Dhawan’s forecast for 2013 is not encouraging, the monthly jobs report is good news.