Economics

Georgia Power had a very good year with its investments in 2022 and next month, customers will receive benefits from that success. Customers of the utility will see a one-time credit on their bill in March. Although each customer’s credit will vary based on usage in 2022, for a typical user of 1,000-kilowatt hours per month, the average credit will be around $23. The Georgia Public Service Commission allows Georgia Power to earn a return on its investments up to a certain amount. If its investment earnings exceed that amount,

Securing financial stability can hinge on having the skills an employer is seeking, but that doesn’t necessarily require a four-year college degree. Augusta Technical College is holding a series of open houses to show the advantages to enrolling in one of the diverse programs it offers. The first of four open houses will be Mon, March 13 from 5 p.m. to 7 p.m. at ITC 100 Building on the Augusta campus. It is for students interested in the School of Aviation, industrial, Engineering, and the School of Public and Professional

Last week, I reported that the Labor Market Index (LMI) for the Augusta Metropolitan Statistical area had declined for three consecutive months through December 2022. It does, however, remain just above its level a year ago. The local labor market has not performed as well as the Georgia Labor market, which has improved by 1.6 percent over the last year. Strong growth was seen in Athens, Atlanta, Columbus, and Savannah. Three metro areas saw their labor market deteriorate over the last year (see graph). Georgia added 165,000 jobs in 2021,

The Augusta Leading Economic Index (LEI) recorded its sixth consecutive month of decline in December 2022. It finished the year 2.3 percent lower than December 2021. Although the overall index was down, there was some good news in some of the indicator variables. For example, seasonally adjusted initial claims for unemployment insurance declined 10 percent in December from November. Job openings in South Carolina increased. There were 169,000 job openings in October, 182,000 in November, and 187,000 in December. Unfortunately, in Georgia, job openings fell sharply from 392,000 in November

The Leisure and Hospitality industry had a strong start to 2022 but was not able to sustain that momentum throughout the rest of the year. Data provided by STR shows that hotel occupancy rates in Richmond County were higher in the first four months of 2022 than the same four months in 2021, after seasonal adjustment. However, of the remaining months, only October saw higher occupancy rates in 2022 than in 2021. Hoteliers were able to capitalize on this increased demand by receiving a higher revenue per available room from