South Georgians react to gloom economic predictions
Thu, 04 Dec 2008 21:25:17 GMT —
South Georgians say they're very worried about the economy and the projected recovery time from the recession.
This comes following a "dreadful" economic forecast from University of Georgia Terry College of Business Dean Robert Sumichrast. He released predictions for Georgia's economic forecast as a part of the school's annual Economic Outlook Conference. Sumichrast predicted that Georgia's recession will last a year and a half. That is the longest economic slump since the Great Depression. Residents in south Georgia say their funds might stretch for the next couple of months, but not for a year.
Sumichrast also predicted the unemployment rate would double and housing prices will continue to plummet. The Department of Labor refused to comment on the predictions but say that healthcare, trucking, and sales are fields that are searching for workers.