Power Breakfast: Georgia job losses to continue, Sony Ericsson move, flood loan deadline, FAA, AT&T vs. Verizon

There are three key issues for the economy right now: Jobs, Jobs and Jobs!

The painful flow of job cuts in Georgia will slow in coming months but continue through 2010, setting up a third straight year of losses, according to a new forecast reported by AJC staffer Michael Kanell.

The state’s job losses next year are estimated at 60,600, down  from an estimated 214,700 lost in 2009, said Rajeev Dhawan, director of the Georgia State Economic Forecasting Center at the center’s quarterly forecasting conference.

Job growth will resume in 2011, with payrolls expanding by 67,100 positions, Kanell reports.

Many previous recessions were followed by strong recoveries, with the sharp drop and bounce-back forming a ‘V.’ This time, Dhawan said, it will look more like the Nike “swoosh,” with a steep drop and shallow recovery.

“It may be 2012 or 2013 before we get back to where we were,” he said.

Also in the AJC:

In other media:

4 comments Add your comment

Ron

November 19th, 2009
8:11 am

That “swoosh” is not a shallow recovery but the echo of businesses and jobs leaving this economy. Some moving overseas and others simply going away, for good. In the past the recession model followed a fairly predictable path of layoffs followed by recalls. In the end everything balanced out. This time is different. This time many of these layoffs are permanent. They will never be recalled to work because either the job has gone overseas or the the business has failed. The fact is that we’re in a “Brave New Economy” where we don’t have the jobs (or potential jobs) to recover, sustain or much less grow the economy. But we all know this (or at least it’s becoming clearer to understand). The real question is – Why are we in this predicament? The answer is that we have legislated and regulated ourselves into bankruptcy. Through government action we’ve destroyed our economic engine. In order to protect ourselves from being exploited by business (our livelihood) we’ve severely damaged our livelihood. In essence we’ve killed the goose that laid the golden egg.

Roger

November 19th, 2009
8:53 am

Interesting the concern over all the job losses. Used to be it was not under the authority of governments. To even care if you had a job. I guess that was in the olden days. However a whole lot of countries today are the same way. They could care less if you have a job or not. Thats up to you.

Actually they weren’t called jobs. It was called work. Being it picking up cans on the road. Or cutting timber. You did for yourself. The countries where they don’t find you a “job” are doing alright. People survive. They make there own way and find work to do. So if Corporations let people go. What’s it to me? If you loose your house. I could care less. Why? You made the unwise financial decisions. I didn’t. Blame it on whoever. I would’nt get a thirty year mortgage if they gave me the down payment. Why? Who knows whats going to take place in 30 years. In this kind of system. With it’s ups and downs. It’s an insane systematic gamble to do so.

A lot of these news stories. Are underwritten by nothing but a bunch of “loan-hawkers”. That want you all concerned about how their business is doing. That want to have you make sure their business can survive. So you can get another loan to be in debt to them. You can’t pay the loan. Well they get your house. Once again I really can’t fathom how the government can be in that business either. Whats the loan business to them? They don’t make any money on it. They only loose money. See? The bank gets your house and the government gets bup-kiss. What kind of crazy business is that?

B

November 20th, 2009
9:45 am

217,000 jobs lost in Georgia in 2009!!!

Staggering.

strainer3

November 25th, 2009
10:43 am

this morning I read a very useful piece on gold and the US dollar as a result of the Federal Reserve’s continued attempts to debase our currency and continue to try to solve a debt crisis with more debt: Gold Price Breaks $1,180 as US Dollar Sinks

here’s an excerpt: “While the Fed minutes indicate the maintenance of current dovish policy for quite some time, a positive factor for the gold price and gold mining sector, other portions of the minutes suggested that the Federal Reserve may indeed have evidence to begin to withdraw the easy monetary policies used to combat the credit crisis.”