Power Breakfast: Lower jobless rate battles higher gas prices, King & Spalding, NFL, Aaron’s, Apple and Google, Facebook

The health of the local economy will partly depend on how two figures in today’s news play out — 9.8 and 4.

Metro Atlanta’s jobless rate fell to 9.8 percent in March, from 10.2 percent in February, the labor department said. A total of 8,600 new jobs were created in a variety of industries.

But that good news is tempered by gas prices. AJC reporter Mike Morris writes that the average price of gas in Atlanta is heading toward $4 a gallon. It’s now $3.75 a gallon for regular unleaded — 29 cents per gallon higher than a month ago, and a full dollar more than the price one year ago, according to gasbuddy.com.

How much will the lower jobless rate propel our economy and how much will rising gas prices dampen consumer spending? The answer, which will play out in the next few months, will determine a lot about our short-term future?

Also in the AJC:

In other media:

12 comments Add your comment

4 Jacks

April 26th, 2011
6:59 am

Robert Hays caved in on this issue and has put egg on the face of King & Spalding. I admire Mr. Clement for resigning and have heard that their are alot of unhappy people at King & Spalding over this issue. Mr. Hays has no backbone and sways in the wind on the tough issues. He should be the one who resigns.

the watch dog

April 26th, 2011
7:40 am

For every penny that gas goes up, 1 billion dollars is taken away from the economy. Gas has gone up 29 cents this past month, that would be 29 billion that would have been spent elsewhere like, clothes, food and entertainment. And the money leaves the country, headed for the middle east where the terrorists live and helps fund their aggresive activities against the U.S. I know, that sounds pretty strong, but that is it.

shaggy

April 26th, 2011
11:51 am

This is not about supply and demand. It is about the dollar being in the toilet. Oil is a traded as a commodity, just like gold. Weak dollar = More greenbacks needed to buy just about everything.

MrLiberty

April 26th, 2011
11:54 am

And even more billions a day head to the middle east to be wasted on immoral and illegal wars that we have no business fighting. It is the falling US dollar that causes the price of oil to rise in terms of dollars, but don’t expect the state controlled media to tell you that on the news. As well, the more we work to destabilize the middle east with our bombs, missles, and CIA, the more fear influences the price of oil, etc. As always, blame the US government for they are at the root of it all.

Kim

April 26th, 2011
11:58 am

watch dog: source??

shaggy

April 26th, 2011
12:24 pm

MrLiberty,

The weak dollar driving higher domestic prices is just basic economics. No media of either political bent is needed to discern that. It’s just the way it works. If the USA was more willing to take on debt questions, that dollar would rise stronger, faster, and commodities prices would fall.

shaggy

April 26th, 2011
12:26 pm

Oh, and we should have taken our bombs and missles you whine about and “conquered” both Iraq and Libya…made them US territories, with a McDonalds selling camel burgers in every village.

city slick

April 26th, 2011
12:34 pm

lower “jobless rate?” YES!!! the recession is now over!!!! I’m taking a vacation, getting a home equity loan and getting stainless appliances for my beach home!!!

TnGelding

April 26th, 2011
12:49 pm

Almost all of us can use less gas to keep our net cost the same. Part of the increase is due to the “weaker” dollar, but most of it is due to the speculators squeezing us by the gonads. We need to change the terms of our oil and gas leases on public lands.

Yeah Right!

April 26th, 2011
12:52 pm

Just where are these “jobs” located? What industry? How much do they pay? Are these “jobs” referring to the 50,000 McDonald’s supposedly held interviews for? It kills me when I hear how many JOBS are being created when you have high-end-earners still out of work. I’d venture to guess they are “over qualified” to get any of these 8,600 jobs that were created, but nevertheless applied for them. Those middle-class Americans who are applying for bancruptcy by the hundreds, losing their homes, cars, schools, savings are certainly not being hired back at the same rate of pay they lost. Out of the 8,600 jobs created, how many went to college graduates and people over the age of 30? With gas and food on the rise, and no pay raises to offset the cost, are we really heading for a better America? Or just one in which all but the very rich are considered the working class poor? We need to clean house (the White House) and make them accountable for burying America and it’s people under a catastrophic mounain of debt! Get those old @$$ politicians out that don’t have term limits and bring in new and fresh blood! Institute the FAIR TAX system and stop bleeding us dry!

[...] Power Breakfast: Lower jobless rate battles higher gas prices, King & Spalding … Atlanta Journal Constitution (blog) - Henry Unger - ‎10 hours ago‎ But that good news is tempered by gas prices. AJC reporter Mike Morris writes that the average price of gas in Atlanta is heading toward $4 a gallon. It’s now $3.75 a gallon for regular unleaded — 29 cents per gallon higher than a month ago, … [...]

A.S.Mathew

April 26th, 2011
10:09 pm

While watching the empty roads, everybody can read very easily that
the very high gas price will undermine any positive news of less
unemployment. The high gas price is going to hit the car dealers
with big cars. Anyway, there are more economic problems than solutions
every day.