Georgia Employment rate improving
Good news for the Georgians! Since the recession, the unemployment claims rate in Georgia is gradually slowing down. The rate may not be very significant but at least it is a sight of job in the economic downturns when layoffs, retrenchments and unemployment are the order of the day.
Since the recession hit the economy, the rate of unemployment sharply grew in sectors such as manufacturing, retail, and sales and so on. The total number of jobless workers who used to get unemployment insurance rose around 110% from 74,981 in 2008 to 157,544.
The mayor said that this trend was an encouraging sign that the job situation in Georgia is improving. “It’s been trending upward,” he said. If such trend continuous, workers will ultimately have a good nights sleep after these months of job related stress and tension.
Meanwhile, unemployment has taken a toll on the unemployment insurance trust fund of the state. The fund lost an average of around $123.1 million between the months of January and April. Financial experts say that the fund is being used to the maximum limit as the number of unemployed people have risen after the recession hit the US. Lawmakers say that it will take for the situation to be under control. Around $152 million was paid in the recent months in the form of unemployment benefits.
People in Georgia are weighing their options and do not seem to be overjoyed by the employment improvement. Most people who have suffered losses due to the recession say that it is too early to say that things will be brighter. They say that it is better to be cautious and act prudently.
