Economics

The Bureau of Labor Statistics released employment data for the Augusta Metropolitan Statistical Area last Thursday. Employment fell by 900 in August from July. The chart below shows the rollercoaster ride we have been on in the local area over the last year. Employment rose from August 2022 through November as the chain pulled the roller-coaster up the first hill. We then plummeted down the first drop, losing 3,000 jobs in two months. Another drop followed a mini recovery in February (just to make your stomach go queasy!). A long

As expected, and I wrote about it last week, the Augusta Leading Economic Index (LEI) turned negative for the first time in six months. The LEI fell 0.4 percent in July from June. All the component indicators fell, except the Dow Jones Industrial Average which increased by 3 percent on the last day of July compared to the last day of June. Unfortunately, the Dow gave those gains back in August. The data release for the final component of the LEI was for job openings. In Georgia, there were 311,000

Members of the Augusta Aviation Commission got a first look at a facility nearing completion across Doug Barnard Parkway from the airport. The public will likely never see the $9.5 million development; however, it is expected to improve their experience when they visit Augusta Regional Airport. The project is a 12,000-square-foot building that will be the new base of operations for the rental car companies serving Augusta Airport. It is being built on approximately 16.5 acres off the newly named access road, Majestic Skies Way. “In a lot of ways,

The employment level in the Augusta Metropolitan Statistical Area (MSA) rose for the fourth consecutive month in July. It now stands at 244,700, up from 241,600 in March. However, it continues to remain below pre-pandemic levels. The unemployment rate has inched up this year from 3.5% in January to 3.8% in July. The rise in unemployment coupled with a rise in employment can be explained by an increase in the labor force. The labor force has increased for six consecutive months, adding over 2,400 workers or potential workers to the