Perspective Online

UWG to Host Economic Forecast Breakfast October 28

The University of West Georgia’s Richards College of Business and the Carroll County Chamber of Commerce are hosting their annual Economic Forecast Breakfast on Tuesday, October 28, from 7:30 a.m. – 9 a.m. in the UWG Campus Center Ballroom. This year’s speakers include UWG Economist Joey Smith; Chief Economist of The Southern Company Kenneth Shiver; and Senior Economist at Wells Fargo Mark Vitner.

UWG to Host Economic Forecast Breakfast October 28 Now, more than five years after the end of the “Great Recession” and three years into the U.S. economic recovery, the West Georgia region has finally begun to see more comprehensive private sector employment growth. Carroll, Coweta, Douglas, Haralson, Paulding and Polk have all experienced increases in total employment in private-sector jobs over the past year. In fact, four of the six counties experienced faster overall job growth than the state. With better access to local jobs, the results have been lower unemployment rates and lower new unemployment insurance claims year-over-year.

Typically, people move to where the jobs are, so as we see more employment opportunities in the region we will also continue to see the housing market rebound. Average sales price for the region is still well below its peak, and we are only building a fraction of the new housing units we were a decade ago; however, prices for existing homes continue to trend upward at a measured pace and the inventory of available housing has started to adjust to prices as well.

The outlook for the local economy is a cautious positive; however, the region is still facing difficulties that are rooted in the recession. Many residents of the region are now working for lower wages and are more likely to be working part-time rather than full-time jobs or working at jobs that do not fully utilize their skills. Food and fuel prices remain high, taxing the working family. There is also no doubt that many residents and businesses are still suffering. But, the region has made adjustments and it continues to find ways to recover. For example, new medical facilities across the region are bringing with them higher-paying service jobs. The local wages in good-producing jobs are attracting new manufacturing back to the area. Even our local livestock farmers are more optimistic as they look toward record prices for their products.

To hear more about the regional, state and national economy, please come to the UWG’s Economic Forecast Breakfast on Tuesday, October 28. The event will be held on the Campus Center Ballroom at UWG and will start at 7:30 a.m. Individual tickets are $30 and tables of eight are $200. For reservations, contact the UWG economics department at 678-839-6477 or email djoyner@westga.edu.

 

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