Economic recovery underway - WALB.com, South Georgia News, Weather, Sports

Economic recovery underway

By Karen Cohilas - bio | email

ALBANY, GA (WALB) – Economists from the University of Georgia say the recession has bottomed out.

At an economic outlook meeting in Albany Thursday, Dr. Jeffrey Humphreys from the Selig Center for Economic Growth, says there are signs that recovery in Georgia has begun.

We may not see the recovery in jobs for a while, though. That's evident from December unemployment numbers released Thursday.

After slight improvement recently, the state unemployment rate went back up to a record-tying 10.3%.

Dr. Humphreys said, "We're gong to have an on again, off again pattern initially as the recovery gains traction. In other words, we may get some positive job numbers and then we'll get some negative ones. I don't think we get sustained good news in the labor market until sometime in the early spring or summer."

The good news for Southwest Georgia is only 4% of total jobs were lost, compared to five percent nationally and nine percent statewide.

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