University of Georgia scholar to deliver state’s economic forecast

UGa. scholar to deliver state’s economic forecast

ATLANTA — Georgia forecasters are offering the latest snapshot of the state’s slumping economy.

Robert T. Sumichrast — who heads the University of Georgia’s business school — will deliver the state’s economic forecast at a luncheon Tuesday. He’ll be joined by David Wyss, chief economist for Standard & Poor’s in New York, who will offer a national picture.

A year ago, Sumichrast predicted Georgia’s economy would rev up by the third quarter of 2009, with unemployment peaking at 9 percent in early 2010.

But data released by state labor officials last month showed Georgia’s unemployment rate for October stood at 10.2 percent.

Meanwhile the state shed 139,015 jobs from the year before period.