Power Breakfast: Atlanta incomes take big hit, governor’s race, Publix, Cousins, BP, Fed

There’s another distressing number about our local economy: Per capita income in metro Atlanta last year fell nearly three times as much as the U.S. average, AJC staffer Michael Kanell reports.

Government data released Monday shows income falling in most American metro areas in 2009, with Atlanta down 4.8 percent, Kanell writes.

Nationally, personal income slid 1.8 percent in 2009, according to the report by the Bureau of Economic Analysis.

Personal income includes earnings of various kinds, including paychecks, rental income, dividends and interest, as well as payments from the government. So the loss of jobs alone often does not push an area’s income down.

But in 2009, Atlanta was losing on a range of fronts, from jobs to stock holdings to home values, Kanell reports.

The area lost 133,808 jobs during 2009, while the unemployment rate surged from 7.6 percent to 10.1 percent, according to the U.S. Bureau of Labor Statistics.

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3 comments Add your comment

Winfield J. Abbe

August 10th, 2010
7:11 am

The former president of Mexico is exactly correct in recommending the legalization and regulation of drugs. It is our corrupt State Department which anonymously claims they won’t support it despite the total dismal failure of the war on drugs for about 50 years. Is there any shortage of drugs in the U.S. anywhere? Our cities are like war zones but our govenment clings to its failed policy . As usual failed govenment never admits it is wrong and has been wrong for many years. Read the outstanding article for fomer police chief of Seattle WA Norm Stamper, “Let Those Dopers Be”, LA Times, about 2005. Numerous other responsible officials support legalization. The war on drugs is the same dismal failure as prohibition was years ago. Americans are the biggest fools in the world and its bought and paid for government is also the most corrupt in the world. Legalize drugs today and eliminate much secret corruption in most police departments too.

Winfield J. Abbe

August 10th, 2010
7:13 am

Do not vote for that corrupt politician Deal who received special favors for years for his personal business from the Georgia Taxpayers. He is also a lawyer. Need we say more? Vote for Karen Handel today.

Handel This

August 10th, 2010
4:18 pm

Winfield, Handel is no Saint. My vote goes to Deal!