Recession receding, employment, housing on rise
Changes in the economy, including the housing market and employment, were hot topics at last week…
Georgia (Nov 19, 2014) — Changes in the economy, including the housing market and employment, were hot topics at last week’s Henry Council for Quality Growth luncheon in Stockbridge.
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Kennesaw State University economic pundit Roger Tutterow spoke to an audience of about 75 people about the national, state and county economy, how each fared in 2014 and what may happen in 2015.
“Here in the Southeast, we had inclement weather that shut down commerce, but the truth is we were set up for a weak first quarter before that weather hit,” Tutterow said about the snowstorms in January and February. “In the first three quarters of 2013, we produced more product nationwide than we sold, which went into inventory.”
Despite a rough start in the first quarter, however, Tutterow said more people are on the job now than before the recession started.
“In May 2014, for the first time in six and a half years, the country had more people working than were working in 2007,” he said. “That means more people are working today than any other time in our country’s history and, while some of those jobs are part-time or were replaced with jobs not as highly compensated, having the same amount of people working is a necessary condition to return to normalcy from a recession.”
He also said the housing market recovery was “coming along quite nicely,” especially in the metro Atlanta area.
Council Executive Director Steve Cash said Tutterow gave valuable insight to the council’s members.
“We, as a council, will continue to network, grow and make things happen that are
important to our members and county,” Cash said. “Knowing where the economy stands,
especially in our region, is an important part of that growth.”
A leader in innovative teaching and learning, Kennesaw State University offers undergraduate, graduate and doctoral degrees to its more than 41,000 students. With 11 colleges on two metro Atlanta campuses, Kennesaw State is a member of the University System of Georgia and the second-largest university in the state. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the region and from 126 countries across the globe. Kennesaw State is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 6 percent of U.S. colleges and universities with an R1 or R2 status. For more information, visit kennesaw.edu.