Sunday, June 10, 2012

Loss of government jobs could be drag on growth

Loss of government jobs could be drag on growth | Washington Examiner:
June 07, 2012
Washington Examiner

ATLANTA (AP) -- Government workers didn't lose jobs in droves like their private sector counterparts during the recession, but the jobs of thousands of Georgia teachers and postal and social service workers are now threatened, further dampening the state's tepid economic recovery.

Revenue shortfalls at the local, state and federal levels endanger Georgia's 673,100 public sector employees — 16 percent of all Georgia jobs. Any significant cuts could reverse nine months of job growth and cause Georgia's 8.9 percent unemployment rate to rise once again.

The job cuts would likely come in chunks across the state. Metro Atlanta's major school systems, for example, are threatening to cut 1,800 positions. Collectively, the loss of thousands of relatively well-paid government jobs across Georgia would hurt still-struggling restaurants, beauty salons and county tax coffers.

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