Smith: Unemployment Rate Inching Down

Goizueta’s Tom Smith told WABE in Atlanta the nation’s unemployment rate could continue to tick down, perhaps going below 8 percent, later this summer if firms and consumers gain more confidence the economy isn’t headed for a recession relapse.

Smith, an assistant professor in the practice of finance, told WABE’s Jim Burress Georgia isn’t close to complete economic recovery, but it’s a step in the right direction.

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The nation’s unemployment rate dropped to 8.8 percent Friday. In Georgia, the figure remains stubbornly high — 10.2 percent.

“June, July, August… firms are going to have to make decisions about hiring,” Smith said. “I think we’re going to see the unemployment rate tick down right around then.”

 

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