FOR IMMEDIATE RELEASE
The Georgia Budget & Policy Institute today released the State of Working Georgia 2011, which examines factors such as job growth, income levels, poverty and other workforce conditions to paint a clear picture of how everyday Georgians are fairing in today’s economy, as well as the potential impact these indicators may have on Georgia’s economic development in the short- and long-term. The report is part of GBPI’s Strengthening the Foundation series, which assesses state policies and programs designed to help low-income, working families succeed in the labor market and achieve economic security.
Highlights from State of Working Georgia 2011
According to the State of Working Georgia report:
- Georgia lost 351,400 jobs – third most nationwide – since the crisis began, and ranks dead last in job growth since the official start of the recovery in June 2009.
- Georgia has lost a greater number of jobs than all but two other states since the recession started in December 2007, and unlike the vast majority of states, has continued losing jobs at an alarming pace.
- Georgia’s unemployment rate has nearly doubled from 5.2 percent to 10.3 percent; September 2011 marked the 50th consecutive month that Georgia’s unemployment rate outpaced the national average.
“Although the Great Recession and its aftermath have hit Georgia harder than most other states, it’s important that this crisis is viewed as an opportunity,” said Alan Essig, GBPI Executive Director. “As we gear up for the 2012 legislative session, elected officials will need to rethink our economic development policies and embrace the overwhelming evidence that state economic success depends on a complex balance of taxes and investments rather than focusing on a one-dimensional tax cut discussion. The crash of Georgia’s jobs market proves that cutting taxes as low as they can go and slashing services to their bare bones doesn’t equate to economic growth and new jobs.”
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About Georgia Budget & Policy Institute
GBPI is the state’s leading independent, nonpartisan nonprofit engaged in research and education about the fiscal and economic health of the state of Georgia. GBPI provides reliable, timely analysis of Georgia’s budget and tax policies, and promotes greater state government fiscal accountability, improved services and an enhanced quality of life for all Georgians.