Power Breakfast: State unemployment rises, FedEx, Synovus

I’m taking two days off, so today’s Power Breakfast will be the last one until Monday morning. See you then.

Today, the state labor department reported that Georgia’s unemployment rate rose to 10.3 percent in July.

A total of 493,748 state residents were unemployed. Of that number, 163,839, or 33.2 percent, received state unemployment insurance benefits, while approximately 140,000 received federally funded extended benefits.

That leaves about 190,000 people without any government unemployment benefits.

“These jobless workers could comprise a mythical unemployment line that stretches from Dalton to Atlanta, through Macon and down to Valdosta,” Labor Commissioner Michael Thurmond said in a statement.

Thurmond said in a previous interview that he expects state unemployment to hit 11 percent to 11.5 percent. In metro Atlanta, he expects unemployment to peak at 11.5 percent to 12 percent.

Also in the AJC:

In other media:

4 comments Add your comment

Pete

August 20th, 2009
7:16 am

For a spatial view of the current unemployment level in Georgia, there is an interactive heat map at http://www.localetrends.com/st/ga_georgia_unemployment.php?MAP_TYPE=curr_ue

Shadow 7071

August 20th, 2009
11:07 am

Let’s see, we have close to a half-a-million people un-employed. A time bomb ticking in the commercial real estate market. Bombs have gone off and continue to go off in the residential real estate market. Along Peachtree people are holding signs announcing retailers that “Going Out of Business”. At Perimeter Mall last weekend I counted at least six un-occupied store spaces. And, it has been reported that ATL is one of the most vacated cities in the country. Is it hard to see what’s going here?

gene doe

August 24th, 2009
9:28 am

Help solve the unemployment & water problem for GA and the other Southeastern states. Construct the USA’s largest “desalination” plant in Savannah GA and build a pipeline, 500 miles, from GA’s Atlantic Ocean to Birmingham AL. Plan use the so-called “grant” monies from the Governments stimulus package(s). Use the unemployed talented construction work forces to get it done. WORK, WORK, WORK from all blazing saddles! Thx genedoe