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Georgia May Unemployment Rises to 9.7% - Historic Unemployment Level Grips Georgia

For over 19 consecutive months Georgia's unemployment rate has been over 9.4%. Today it stands at a record 9.7% unemployment. That is the highest historical unemployment rate Georgia has ever seen. In May over 463,883 unemployed Georgians sought work. 34% of the unemployed /157,544 are receiving GA unemployment insurance benefits, while approximately 90,000 are receiving federal extended benefits. This 9.7% rate in May of 2009 to date represents an increase of 62%! Although some economist were talking about some "Green shoots' of hope last month, none seem on the horizon here in GA. Companies are still laying off, and revenues are declining for many employers. It is not unusual too see your favorite restaurant closed, and retail stores empty by the streetful here...as nervous consumers curtail personal spending. In Atlanta metro there were 136,800 job losses from May08' to May 09'.

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 06/18/2009 09:30 PM

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Georgia Unemployment Hits Record High - GA 9.7% Unemployment in the ActiveRain Channel

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Originally posted at: Atlanta Real Estate | Atlanta Housing News for Real Estate: Georgia May Unemployment Rises to 9.7% - Historic Unemployment Level Grips Georgia

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