Economics

The Augusta Metropolitan Statistical Area economy is in a recession, according to one indicator. The Sahm indicator hit 0.6 in August and a reading higher than 0.5 indicates a recession. The Sahm indicator is named after its creator, Claudia Sahm. The Sahm Recession Indicator signals the start of a recession when the three-month moving average of the unemployment rate rises by 0.50 percentage points or more relative to the minimum of the three-month averages from the previous 12 months. In August, the local unemployment rate rose to 4.4 percent for

Jefferson Energy Cooperative and Georgia Power officials say there are just a few folks without power in their service areas. Georgia Power says it is now in the financial phase of the storm to work with customers on paying their bills as they can. November 30th and December 15th are key dates to keep in mind for yourself or loved ones who may need this information. GP is allowing two-, four-, and six-month installment plans for those who qualify. Enroll by November 30th. Service disconnections, late fees, and collection activities

Hurricane Helene took a significant economic toll on small businesses in Georgia, according to new data from Fiserv. At the height of the storm’s impact, consumer spending came to a virtual standstill, with statewide small business sales plummeting 19% from 9/26-9/29 (compared to the same period in 2023). Since 9/30, though, sales have recovered somewhat – up 5.5% year-over-year, driven by a surge in spending on lumber, hardware, and accommodations. Fiserv measures spending at some 2 million small businesses nationwide every month – but can also track sales over specific

Our neighbors across the river who are looking for answers and help for Hurricane Helene relief have two great opportunities, one today, Thursday, October 17, and another tomorrow, Friday, October 18 at Team South Carolina County Days. Gov. Henry McMaster and Lieutenant Governor Pamela S. Evette, other state and federal officials, and representatives from nonprofits will host the information-filled events in Allendale on Thursday and Aiken on Friday. Team South Carolina County Days provides residents affected by Hurricane Helene with a one-stop opportunity to learn about relief resources available to them.