Wednesday, May 31Welcome

CityTalk housing, leadership could pose risks to Savannah economy

This is the City Talk column by longtime Savannah Morning News contributor Bill Dawers.

A few months ago I suggested that the U.S. may already be in recession, but despite high inflation, high stock market volatility and soaring interest rates, the economy is proved to be more resilient than I expected.

Private consumption actually increased in October. Employment is a lagging indicator of economic conditions, but if the recession was already underway, the October data should show signs of softening.

However, the United States continues to add jobs, and Georgia’s employment situation is particularly strong. In the Savannah metropolitan area (Chatham, Effingham and Bryan counties), first unemployment claims fell significantly in October compared to the same period last year, but employment increased by almost 5%.

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