This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Georgia Unemployment Rate Drops To 8.7 Percent

JEFF MARTIN

ATLANTA (AP) â¿¿ Georgia's seasonally adjusted unemployment rate dropped to 8.7 percent in October, down from 9 percent in September, state labor officials said. That compares to a jobless rate of 9.7 percent a year ago, according to new figures announced early Thursday by the Georgia Department of Labor.

A total of 36,000 new jobs were added, the largest September-to-October job increase ever, Georgia Labor Commissioner Mark Butler said.

The job growth pushed the number of jobs in October to the highest level in any month since December 2008, he said.

The state's labor force also continued to increase, climbing to 4.79 million in October. That represents a gain of 17,438 workers since September.

"Our labor force has grown consistently over the past year, indicating that Georgians are more optimistic about finding a job, and fortunately, we've had the job growth necessary to put these people to work," Butler said.

The unemployment figures come as Georgia economists issued their forecasts for the coming months, which suggest continued sluggishness next year followed by strong growth in 2014.

Uncertainty over what's become known as the looming "fiscal cliff" has already done damage to the U.S. economy, according to Rajeev Dhawan of the Economic Forecasting Center at Georgia State University's J. Mack Robinson College of Business.

"The damage from the fiscal cliff is done and playing out now," Dhawan wrote in his quarterly Forecast of the Nation, released this week. "The issue is, can we can contain it?"

Congress reaching a deal on the issue is of paramount importance because the U.S. must turn to domestic sources to fuel economic growth in the coming year, Dhawan says. He says that's because exports are down, falling 3.5 percent in the third quarter of 2012, a sharp reversal from 7.0 percent growth in the second quarter.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs