It seems to be too rosy of an employment picture, but I hope he’s right.
After a few more rough quarters, University of West Georgia economist William “Joey” Smith predicted today that local and state unemployment will fall dramatically beginning in next year’s second quarter.
At the university’s annual economic forecasting breakfast, Smith predicted that metro Atlanta’s unemployment rate would drop to 9.2 percent in the second quarter, from 10.4 percent in the first quarter.
“The good news is the bad news is close to being over,” Smith said in a statement. “The recovery so far has been driven by optimism in the stock market and a bounce in consumer confidence.”
By the fourth quarter of next year, Smith said metro Atlanta’s unemployment rate would retreat to 6.5 percent. That would be an enormous decline from the current rate of 10.5 percent.
If the economy is truly going to recover and unemployment fall, hopefully our legislature can focus on some of the other big issues out there instead of worrying about declining revenue, labor issues, etc.
I’d like to think they are huddled somewhere privately drafting a comprehensive transportation plan, but you and I both know that is not happening.
Prediction: Glenn Richardson will yet again run circles around everyone else on this issue this coming year and again be a winner.