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Growth in Augusta over the next 10 years assessed at the annual Economic Forecast Breakfast

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Healthcare professions are increasing, administrative jobs are decreasing, unemployment claims are on a downslope and inflation is still a concern. These were some of economist Simon Medcalfe’s observations at the 15th annual Economic Forecast Breakfast.

“What does 2031 look like?” was the quest...

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  1. Did Professor Medcalfe factor in the impact of the labor strikes by truckers, railroad and airline employees, healthcare workers, auto workers, and service sector employees in response to inflation eating away the value of the dollars they earn?

    Concerning the Sahm Rule, the federal unemployment rate does not accurately reflect the number of jobs available, but unfilled, and the number of unemployed who are not actively seeking employment. For people 25 to 65, the 2012 workforce participation rate was about 78%, compared to about 80% in 1997, and this trend continues. About 20% of the core of our nation’s workforce is not working or seeking work, hence the “Now Hiring” and “Help Wanted” signs at most businesses. Credit usage is increasing, to be followed by more loan defaults and bankruptcies. Don’t write off a recession in the near future as people refuse to pay $12 for smaller portions and bad service at a fast food restaurant.

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