The unemployment rate for the United States in June fell 2.2% to 11.1%. This is a steeper decline than the April to May drop of 1.4%, which shows that people are getting back to work at states’ economies open up. This number, however, does not take into account some recent business closures as coronavirus cases […]
The Small Business Administration released a PPP Report with loan approval data through 6/27. There are now 152,382 loans and $14,365,898,579 dollars approved in round 2 of PPP funding in the state of Georgia. 6,759 loans were approved in the last week since June 20th, which is a larger difference in new approvals since the […]
For the week ending June 20th, there were 125,725 initial unemployment claims in Georgia. This is down 6,272 claims from last week. Initial claims have gone down in seven of the last eight weeks. Jobs were up in all Metropolitan Statistical Areas (MSAs) and regions of the state. Unemployment benefit payments totaled $146,991,356 over the […]
The Small Business Administration released its weekly PPP Loan report with data through June 20, 2020. The cumulative number of PPP Loans given out (still in round 2 of funding) was 145,623 and the net dollars was $14,163,368,242. This is up 4,626 loans and $121,356,238 net dollars from the PPP Loan report with data through […]
The Georgia Department of Labor announced Thursday that the May preliminary unemployment rate was 9.7%. The preliminary April unemployment rate of 11.9% was corrected to an actual 12.6%, making it the highest unemployment rate in the state’s history. The Georgia unemployment rate from April to May decreased by 2.9%. There were 130,766 initial unemployment claims […]
On Thursday, June 11th, the Georgia Department of Labor announced that they are extending unemployment benefits for those who qualify. Under the CARES Act, people who qualify for unemployment insurance (UI) are entitled to state unemployment compensation plus $600 per week from the federal government for 13 weeks. As UI benefits due to COVID-19 are […]
The Small Business Administration released a new PPP Report with approvals through 6/12/2020, still in the second round of funding. Banks and credit unions in Georgia have given out a total of 140,997 loans, totaling $14,042,012,004. This is an increase of 1,782 loans and an increase of $33,850,243 from the June 6 Report. Due to […]
On March 27th, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES Act), which provides funding to small businesses that have suffered losses from the pandemic.
Unemployment Rate The outbreak of COVID-19 and resultant job loss has caused unemployment rates throughout the nation to increase to rates higher than during the financial crisis in 2008. With the state of Georgia being home to the world’s busiest airport, Hartsfield Jackson International Airport, and the Delta Airlines Headquarters, which both had massive layoffs […]
Photo of an undetermined Georgia Tech home game during the 1918 college football season. That's when the sport was hit by the Spanish flu and the end of World War I.
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