Economics

Twice since the aftermath of Helene, winter weather has hit the CSRA – it impacts businesses, employees, and the consumers who support them. “Several businesses across the CSRA opted to close early on Tuesday and today’s schedule is yet to be determined. What matters most to these small businesses is the safety of their employees and their customers,” said John Porter, Director of Downtown Soul City. Ironically one of the events that was supposed to happen on Tuesday was a book release party for the Onyx Storm at the Book

South Carolina lawmakers have converged on Columbia for the start of the 2025 Legislative Session. In a news conference coinciding with the start, Gov. Henry McMaster (R), joined by Lt. Gov. Pamela Evett (R), laid out his proposals in his $14 billion executive budget proposal as the session began. High on his agenda are income taxes and education. He pointed to a time when South Carolina had the highest personal income tax rate in the southeast and the 12th highest in the nation. Three years ago, he signed legislation to

I have already reported that Augusta’s employment rebounded from Hurricane Helene in November, increasing by 800. But what about other labor market indicators? The unemployment rate increased for the eighth successive month to 4.8% in November, and the Sahm Indicator has been indicating a recession in Augusta for four months. The unemployment rate is the highest rate for all Metropolitan Statistical Areas (MSAs) in the State of Georgia. Record employment and increasing unemployment can be explained by the increase in the labor force. These are people that previously were not

The owners of this restaurant at the corner of Washington Road and Pleasant Home Road are still not able to re-open. It’s been more than three months since Hurricane Helene ripped off its roof. Whether there is serious or minor damage, organizers are calling all small businesses harmed by Hurricane Helene to attend an upcoming workshop and learn what help is available. The U.S. Small Business Administration (SBA) is organizing the Jan. 22 workshop. The workshop is organized with help from the University of Georgia Small Business Development Center, the

The University of Georgia’s Terry College of Business came to Augusta with the economic outlook for 2025 nationally, across Georgia, and in metro Augusta. Dr. Benjamin Ayers, Dean of the Terry College of Business, called the report a good news forecast for Georgia. “We are predicting a slowdown, but not much, and we’re expecting a growth rate that will continue to be above our long-term trend rate in the state of Georgia,” he said. “Still should be a positive year in 2025. We’re expecting Georgia’s inflation-adjusted GDP (Gross Domestic Product)

In a news release you may have missed on December 20th, the Bureau of Labor Statistics reported employment numbers for the Augusta Metropolitan Statistical Area (MSA). It also revised the numbers for when Hurricane Helene hit October. The numbers for October were revised from a net gain of 100 to a net loss of 700. The good news is that employment recovered in November, increasing by 800. November was another record month of employment at 248,000. 2024 saw six months of new record employment with December data still to come.