- Collection:
- Georgia Government Publications
- Serial:
- News release (Georgia Department of Labor)
- Title:
- News release [May 24, 2000]
- Creator:
- Georgia. Department of Labor
- Contributor to Resource:
- Georgia. Department of Labor
- Publisher:
- Atlanta, Ga. : Georgia. Department of Labor
- Date of Original:
- 2000-05-24
- Subject:
- Georgia
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- publications (documents)
- Type:
- Text
- Format:
- application/pdf
- Description:
- Each issue also has a distinctive theme title.
Jan. 5, 1998; title from caption.
Dec. 31, 2002. - External Identifiers:
- Call Number GA L200 .P1 N45 2000/5-24
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-bl200-b-pp1-bn45-b2000-s5-h24-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-bl200-b-pp1-bn45-b2000-s5-h24-belec-p-btext
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
Georgia Department of Labor - Press Release
Georgia Department of
Labor
Suite 642 148 International Boulevard N.E.
Atlanta, Georgia 30303-1751 (404)656-3032
May 24, 2000
FOR IMMEDIATE RELEASE
THURMOND AND TOP ECONOMIST SAY INTEREST-RATE HIKES HAVE NEGATIVE IMPACT ON JOB GROWTH; WORKFORCE DEVELOPMENT NEEDED
TO COMBAT INFLATION
ATLANTA -- State Labor Commissioner Michael Thurmond said today that interest-rate hikes by the Federal Reserve will have a negative impact on Georgia's surging economy, historically low unemployment, and record-setting job growth. And, he added that federal programs, such as the Workforce Investment Act (WIA), that call for public-private sector partnerships will go a long way toward combating wage-related inflation.
"We need to keep the economy on track," said Thurmond. Citing a recent article in The Wall Street Journal by Eugene Ludwig, Thurmond stated: "The Fed's decision to raise interest rates in an attempt to slow down the economy because of inflation fueled by shrinking labor pools sends a very negative message. It says that we are willing to marginalize millions of Americans, including senior citizens, persons with disabilities, former welfare recipients, and rehabilitated exoffenders."
Georgia reached the 4 million job mark in April for the first time ever, and the state's unemployment rate declined to 3.1 percent, the lowest level since the department began keeping monthly records in 1970.
"If our record expansion proves anything," Ludwig said in the article, "it's that dipping deeper into the labor pool to sustain high growth without inflation is not only possible, but key to new levels of prosperity. Instead of dampening vigorous labor demand with damaging interest-rate hikes, we should take advantage of it, and address inflation fears with targeted labor-policy levers."
WIA, which becomes effective July 1, is a federal program aimed at developing a world-class
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Georgia Department of Labor - Press Release
workforce throughout the country by utilizing partnerships between the public and private sectors. Georgia is already ahead of the curve, providing nontraditional workers with the training and other assistance needed to bring them into the workforce. For example, the labor department is partnering with the Department of Technical and Adult Education and working with the public schools through the Jobs for Georgia Graduates (JGG) program and others to 'upskill' untapped segments of its indigenous population to play a major role in alleviating Georgia's labor shortage.
NEWS MEDIA NEEDING MORE INFORMATION MAY CALL (404) 656-3032.
E-mail: communications@dol.state.ga.us.
FY-00-542
An Equal Opportunity Employer
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