ATL job losses

Atlanta took a big hit with job losses, as did most large metropolitan areas. This press release from the US Bureau of Labor Statistics gives all the gory details. So out of the nation's 372 largest labor markets only ONE managed to squeak out a net increase in 2009--McAllen TX. ATL lost just over 105,000 jobs in 2009 and as you know our unemployment rate in Georgia is stagnant at just over 10%. Las Vegas lost over 7.4% of its workforce (they are "number 1" in the country, how proud they must feel) and we "only" lost 4.4%. However, if you look at year-end unemployment rates thirty-four of the top 100 markets ended 2009 with jobless rates of 10 percent or more (including ATL). Obviously, we have a long way to go and there may not be a 'silver bullet' for this problem. BUT there are additional signs that the economy is improving. Pending home sales are up, manufacturing activity is up and even car sales are up for many makers (GM, Ford and Nissan, for example, but not Chrysler, Honda or Toyota). Who knows, hoping that we start seeing some additional home sales soon (besides the people trying to get that last-minute tax credit). Keep praying for recovery! Take care, Bo