Economics

Publisher’s Note: We are 1/3rd of the way through 2024. Let’s see how predictions are going so far for AU Hull College of Business professor, Dr. Rick Franza. Here is his report from four months ago! Last week, Augusta University’s Hull College of Business held its annual Economic Forecast Breakfast, and my inimitable colleague, Dr. Simon Medcalfe, gave his uniquely informative and amusing take on what the local economy may have in store for us in the coming year. Dr. Medcalfe has inspired me to break out my crystal ball

The Augusta Leading Economic Index (LEI) fell 0.1 percent in February from January. It remains 0.2 percent higher than February 2023. The components that contributed positively to growth were initial claims for unemployment insurance, the Dow Jones Industrial Average, and job openings. Residential housing permits and higher inflation negatively impacted the index. Initial claims for unemployment insurance fell 69 percent in February from January. While claims normally fall in February, this percentage decline is the largest post-Covid. This bodes well for continuing low unemployment in the area. The Dow Jones

Tomorrow, April 30th, is the big day for not only Augusta Business Daily’s Inspire 2024 Conference, but for The Hyatt Agency, LLC, who will be a vendor at the event from 7:30 am-11:00 am at The Hyatt House Ballroom, located at 1268 Broad Street in Downtown Augusta. “We wanted to participate in the Inspire 2024 event to show our support of Augusta Business Daily and the local business community,” said owner of The Hyatt Agency, LLC, Kevin Hyatt. The Hyatt Agency, LLC offers all types of insurance from home, auto,

I have already reported the decline in employment in the Augusta Metropolitan Statistical Area of just 200 jobs in February. Other labor market economic data is now available from the Bureau of Labor Statistics. The unemployment rate remained unchanged in February at 3.7%, while there was a small increase in the labor force of 277 people. The average weekly earnings declined to $932.59, the lowest since June last year. This represents a decrease of 3.5 percent over the last year at a time when inflation is still running at 3.2%.

Kevin Hyatt is a walking (and stationary) billboard for his Hyatt Agency, LLC firm. You may have noticed his outdoor billboard while shopping at Costco or noticed him networking at area Chambers of Commerce, on “Thirsty Thursdays” at GreenJackets games, and twice a year at Augusta Business Daily conferences and Expos. That’s where he met the mother and son real estate duo, Shawna and Braydon Woodward of ReMax Reinvented. They each had a booth and Kevin approached the Woodwards and started the process at the ballpark. My service philosophy is