The recession has bottomed out -, South Georgia News, Weather, Sports

The recession has bottomed out

By Wainwright Jeffers - bio | email

ALBANY, GA (WALB) – The recession is over, and the recovery has started.

That's what some Georgia economists are saying, but if you're looking for a job, you may not believe it.

Job creation will lag behind economic growth but some new jobs are being created in South Georgia.

Fairfield Inn & Suites, located off of Dawson road is barely a week old.

"We want to say we bring a new level of service to the area," said Liz Minter, General Manager.

That service can only be given if customers walk through the door.

With a sister hotel, Comfort Inn, right next door and nearby competition, opening up in a down economy had its risks.

"The courtyard has pulled some pretty strong numbers, there's definitely a market here in Albany," said Minter.

She is encouraged by the business they've seen so far.

"Usually I have people ask is there business for the hotels, last night was night number six and we ended at 92 percent occupancy so there is definitely business in the area," said Minter.

Economists from the University of Georgia believe this is as bad as the economy will get.

"I do think the recession has bottomed out. It may not feel like it, but I think the recovery has started, at least in terms of production, but the recovery in terms of jobs is still one or two quarters away," said

The recovery may have started but there's still a great need for more jobs.

New numbers show Georgia's unemployment rate in December was 10.3 percent.

That's up slightly from November and equal to last July's record high.

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