Gwinnett Daily Post: State economy weathering ‘headwinds’
ATLANTA – Georgia’s economy was strong during the first half of this year despite rising oil prices and a housing slowdown, a Georgia State University economist said Wednesday.
More than 50,000 jobs were created in the state between January and the end of June – well above the 30,000 that were generated during the last half of 2005, Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University, reported in his quarterly economic forecast.
“This is remarkable considering that the Georgia economy is weathering some strong headwinds,” the report said.
More from the Economic Forecasting Center’s press release:
“For the first six months of this year, Georgia created over 50,000 jobs and for the 12-month period ending in June 2006, the state added a total of 80,000 jobs,” said Dhawan. “In addition, Georgia ended its fiscal year up by 9.3% in tax collections and the state’s nominal personal income increased by 5.5% in the first quarter of 2006 compared to a year ago. This is above the 5.1% personal income average for the nation.” Therefore, he gives the state an overall grade of A- which he says is not bad considering that just a year and a half ago, it was barely a B.