Augusta Economy

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Forecast: Augusta economy remains weak

Wednesday, Nov. 16, 2011 9:55 AM
Last updated 7:38 PM
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ATLANTA — Augusta’s nine-month employment slide is set to reverse next year with lackluster growth, according to Georgia State University’s economic forecast released Wednesday.

Job seekers talk with employers during a job fair at Augusta Career Fair in Augusta on Oct. 20.  Jackie Ricciardi/Staff
Jackie Ricciardi/Staff
Job seekers talk with employers during a job fair at Augusta Career Fair in Augusta on Oct. 20.

Metro Augusta lost 1,600 jobs between January and September after accounting for new hires in the education/health, transportation/utilities and professional/business services sectors.

“The rest of the sectors in Augusta’s economy were severely hit in the past year,” said Rajeev Dhawan, the director of the Economic Forecasting Center at the university. “Significant job losses were reported in the government and retail-trade sectors with 755 and 1,534 job losses respectively.”

Other areas issuing pink slips were hospitality, construction and manufacturing.

The forecast calls for Augusta’s current year to wind up with a 0.5 percent loss followed by a gain next year by the same amount.

Uncertainty from multiple sources will continue to keep the overall state’s economy from growing significantly for the balance of this year and all of 2012, according to the forecast. It is calling for the state to register 0.4 percent job losses for all of 2011 and a tepid 0.2 percent employment growth next year.

“Things are not shutting down, just moderating,” he said. “But the risks remain predominately on the downside.”

The losses continue in Georgia’s finance, construction and government sectors while recent weakness in the leisure/hospitality segment should improve slightly in 2012, according to the forecast.

For other key segments, the outlook is mixed. Manufacturing is growing at 1 percent, and wood products will decline by nearly 9 percent next year. On the other hand, transportation-related manufacturing is expected to register 4 percent growth in 2011 and twice that next year.

Exports have been rosy for Georgia and other Southeastern states, rising 25 percent here, chiefly to Asia which bought growing amounts of aircraft industrial machinery and paper products. Even sales to Europe increased, but at a smaller rate.

“Net-net, the export performance of 2012 is in jeopardy and will hurt the state’s industries, from chicken farmers in the North to the aerospace sector in Atlanta to timber producers in the South,” Dhawan said.

Uncertainty about Europe’s debt crisis, though, is just one of the factors keeping a brake on Georgia’s economy, he said. Add to that pessimism about the United States’ own fiscal policy over next week’s deadline for the congressional Super Committee’s plans for deficit reduction, high gas prices and dropping consumer spending.

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Chillen
17
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Chillen 11/16/11 - 11:44 am
0
0
The United States is but a

The United States is but a few short years behind Europe. As long as the socialist nanny state continues, we will never recover.

drivenslow
0
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drivenslow 11/16/11 - 12:05 pm
0
0
construction is fixing to
Unpublished

construction is fixing to rebound since they finally got you know who and his company can no longer use slave labor which is exactly what they were doing

Craig Spinks
817
Points
Craig Spinks 11/16/11 - 02:47 pm
0
0
Tell me it ain't so, Joe- I

Tell me it ain't so, Joe- I mean (C)ountyman.

Brad Owens
4422
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Brad Owens 11/16/11 - 04:15 pm
0
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Hey I hear Cosco is

Hey I hear Cosco is hiring..."Metro Augusta lost 1,600 jobs between January and September after accounting for new hires in the education/health, transportation/utilities and professional/business services sectors.."

bjphysics
36
Points
bjphysics 11/16/11 - 04:34 pm
0
0
Many unfilled NSA tech-spook

Many unfilled NSA tech-spook jobs out at Gordon for their contractor, SAIC. Go to “indeed dot com” and type in “SAIC” (no quotes) in the “what” field and “Augusta, GA” (no quotes) in the “where” field.

Salary estimates and job count:

$40,000+ (91)
$60,000+ (40)
$80,000+ (20)
$100,000+ (13)
$130,000+ (10)

bjphysics
36
Points
bjphysics 11/16/11 - 04:37 pm
0
0
Plus you get to read military

Plus you get to read military sexting and listen to the same from overseas and no monthly subscription is required.

augusta citizen
9317
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augusta citizen 11/16/11 - 07:25 pm
0
0
Well, Chillen is correct and

Well, Chillen is correct and I just don't see the socialist nanny-state mindset changing, too dang bad.

countyman
20090
Points
countyman 11/17/11 - 03:00 am
0
0
I seriously tried hard not to

I seriously tried hard not to respond, but I couldn't resist the temptation...

The quote was taken yesterday from the Augusta Chronicle on November 15th, 2011...

''The overall number of jobs has fallen 4.5 percent over the past 10 years, but Augusta has the second best rate in Georgia after Warner Robins’ 2.5 percent jobs lost.''

I'm certain every city in the entire U.S would love to have the Village at Riverwatch. The Costco alone equals $17-$22 millon and 200 jobs. The lowest wage is $11 per hour and the average Costco store generates $145 million per yer.. 115 acres of restuarants, hotels, retailers, etc equals new shoppers to our area..

Craig Spinks
817
Points
Craig Spinks 11/17/11 - 12:50 am
0
0
(C)ountyman, So regressing

(C)ountyman,

So regressing less quickly than most others is all right?

And, wow, eleven bucks an hour: A man can rear a family on that.

And, new shoppers: From whence? How many?

Finally, where are the high-paying, hi-tech jobs to whose coming you frequently allude? Eleven bucks an hour and up stocking shelves at Costco ain't no high-paying, hi-tech job.

Brad Owens
4422
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Brad Owens 11/17/11 - 06:22 am
0
0
bj, Those jobs require

bj,

Those jobs require certain clerances and skill sets. They are not for untrained folks who walk off the street.

Brad

Riverman1
83678
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Riverman1 11/17/11 - 06:44 am
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I explained before how

I explained before how government dominated local economies always lag behind economic trends. When a recession hits they are pretty well off during the bad times until the decreased tax revenue finally starts to bring about a decrease in jobs at all levels. When the rest of the country is recovering, the government dominated economy will lag behind that trend also.

constituent
164
Points
constituent 11/17/11 - 07:15 am
0
0
A smart move by Flordia for

A smart move by Flordia for turning down Mr. Russell for their job opening. Now, How do Augusta get rid of our incompetent City Administrator Fred Russell after he issued 34 raises that trigger 34 jobs cut in Augusta's ailing economy? I hope Judge David Rope make the right judgement and rule in favor of our minsters.

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