Augusta Tops in Job Growth in Georgia
According to statistics released by Simon Medcalfe, an economist with the Hull College of Business at GRU, Augusta’s employment grew by 3.5 percent from October 2013 to October 2014. That was tops in the state of Georgia among the 14 cities surveyed. It was also well ahead of Georgia’s overall growth rate during that time, 2.4 percent.
Trailing Augusta in the survey were Gainesville, at 3 percent; Atlanta, 2.4 percent and Savannah, 2 percent. Three cities – Warner Robins, Albany and Dalton – experienced negative employment growth during the same time.
Medcalfe also reported that Augusta’s Leading Economic Index (LEI) increased by 0.8 percent from September to October. It marked eight consecutive months of growth. Overall, the LEI increased by 4.9 percent from October 2013 to October 2014.
The LEI is a monthly composite of several national, regional and local indicators into a single variable. The LEI is not a forecast but may indicate future economic activity.
Augusta’s LEI provides local decision makers with timely information about future business cycle patterns. The Augusta LEI includes the Augusta metro area, as well as seven counties (Burke, Columbia, Lincoln, McDuffie and Richmond in Georgia, and Aiken and Edgefiled in South Carolina).
The Hull College of Business will present its annual Economic Forecast breakfast at 7:30 a.m. Jan. 28.