Update: State Employment Numbers Includes Major Revisions Going Back to 1990

Update: State Employment Numbers Includes Major Revisions Going Back to 1990

Update: State Employment Numbers Includes Major Revisions Going Back to 1990

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A look at the state employment numbers.

Yesterday, the U.S. Bureau of Labor Statistics released state employment numbers that included major revisions going back to 1990. According to the revisions, Georgia had recovered all its jobs lost during the pandemic in December 2021. Prior to the revision, Georgia was three percentage points shy of that goal.

The Georgia Center for Opportunity’s (GCO) take: “For the January 2022 estimates, Georgia ranks 9th in the nation in recovering lost jobs due to the pandemic, having recovered 4.5% more than what were lost,” said Erik Randolph, GCO’s director of research. “Although Georgia remains short 137,600 jobs from its pre-pandemic job-growth trajectory, our state is fairing much better than other states that imposed more draconian lockdown measures due to COVID-19.”

 

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Consumer Price Index Increased 7.9% Over the Last 12 Months

Consumer Price Index Increased 7.9% Over the Last 12 Months

Consumer Price Index Increased 7.9% Over the Last 12 Months

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The CPI is up 7.9% over the last 12 months, not seasonally adjusted.

On March 10th, the U.S. Bureau of Labor Statistics announced that in February the Consumer Price Index (CPI) rose 0.8% on a seasonally adjusted basis. The CPI is up 7.9% over the last 12 months, not seasonally adjusted.

The Georgia Center for Opportunity’s (GCO) take: “The United States is now in a precarious position where our rampant inflation rate is going to begin to infringe on the economic recovery,” said Erik Randolph, GCO’s director of research. “Stagflation could very well be just around the corner. As gas prices surge and there is no let-up in other categories, Americans will begin having to make cutbacks. The impact on the economy will be significant.”

 “We’re seeing firsthand the problem with accepting high levels of inflation as normal. When an unexpected event comes along, like the Russian aggression against Ukraine, it upends everything. The February inflation rate does not fully cover the most recent fallout from the invasion. We’re anticipating that the March CPI will be far worse, as the economic aftershocks of Russia’s war against Ukraine will be more fully baked in.”

 

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Approved– Senate Bill 601, the Georgia Education Freedom Act

Approved– Senate Bill 601, the Georgia Education Freedom Act

Approved– Senate Bill 601, the Georgia Education Freedom Act

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The Georgia Senate Education and Youth Committee has approved Senate Bill 601, the Georgia Education Freedom Act, by a 6-4 vote.

The bill would create Promise Scholarships, offering Georgia families up to $6,000 a year for any approved education expense, such as private school tuition, tutoring, homeschool curriculum, virtual classes, college classes, therapies (for kids with special needs), technology, etc.

The Georgia Center for Opportunity’s (GCO) take: “Promise Scholarships step far beyond a typical voucher by fully putting parents in the driver’s seat when it comes to their child’s education,” said Buzz Brockway, GCO’s vice president of public policy. “The funds could be used for private-school tuition, but there is added flexibility depending on each family’s unique needs, extending to paying for things like tutoring, specialized therapies, or homeschool co-ops. Passing Promise Scholarships would put Georgia at the forefront nationally of giving all children the opportunity for a great education.”

 

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Education Rally: Access to More High-Quality Education Options

Education Rally: Access to More High-Quality Education Options

Education Rally: Access to More High-Quality Education Options

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Join other parents and community leaders on Liberty Plaza to spread the message that it is time for change in education

Today, hundreds of parents, families, and advocates will come together for a rally at noon on Liberty Plaza at the Georgia State Capitol to voice their support for more educational options through Promise Scholarships.

The Georgia Center for Opportunity’s (GCO) take: “The time for Georgia lawmakers to act is right now. Already, 23 other states have passed legislation in recent months to create or expand educational opportunity for their families,” said Buzz Brockway, GCO’s vice president of public policy. “Our state must follow their lead by passing Promise Scholarships, which are a huge leap in the right direction to put kids first.”

 

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New Research: School Students Lag Behind in Literacy Almost Two Years Into the COVID-19 Pandemic

New Research: School Students Lag Behind in Literacy Almost Two Years Into the COVID-19 Pandemic

New Research: School Students Lag Behind in Literacy Almost Two Years Into the COVID-19 Pandemic

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 New research brief shows that elementary school students lag behind in literacy almost two years into the COVID-19 pandemic

The mid-school-year assessment concluded that students in kindergarten, first grade, and second grade are the furthest behind compared to their pre-pandemic counterparts. Black and Hispanic students are bearing the brunt of those learning losses, with the literacy gap between minority students and white students larger than before the pandemic.

The Georgia Center for Opportunity’s (GCO) take: “Count this report as yet another entry in a long line of research studies showing the devastation of learning loss due to school shutdowns,” said Buzz Brockway, GCO’s vice president of public policy. “Georgia kids need the flexibility provided by Promise Scholarships now more than ever. We urge lawmakers to pass either House Bill 999 or House Bill 60 immediately. Both bills would provide up to $6,000 a year for families to choose alternatives to their locally zoned public school.”

 

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January’s Rise of the Consumer Price Index (CPI)

January’s Rise of the Consumer Price Index (CPI)

January’s Rise of the Consumer Price Index (CPI)

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The U.S. Bureau of Labor Statistics announced that

the Consumer Price Index (CPI) rose 0.6% in January 

Today, the U.S. Bureau of Labor Statistics announced that in January the Consumer Price Index (CPI) rose 0.6% on a seasonally adjusted basis. The CPI is up 7.5% over the last 12 months, not seasonally adjusted. That is the highest 12-month rate since February 1982, just prior to when the stagflation of the 1970s was finally defeated.

The Georgia Center for Opportunity’s (GCO) take: “Our nation’s recent bout of severe inflation continued in January and doesn’t show signs of easing anytime soon,” said Erik Randolph, GCO’s director of research. “The rate once again exceeded consensus estimates from economic experts. Alarmingly, there seems to be a major disconnect between politicians and insider pundits over how impactful inflation is for the average American. They say we should be thankful for rising wages, but Americans are still net losers in this highly inflationary environment. When you can’t find a decent used car, your energy bills are spiking, and your grocery bills might have doubled in one year’s time, minimal wage gains are little solace.

“The monthly inflation rate for January is unsettling: 0.8% prior to being seasonally adjusted. When annualized, it’s double digits inflation (10.6%). If it were a fluke, that would be one thing. But this is the fifth time this has happened over the last ten months. This is not unpredicted. We’ve been saying since the beginning—along with many economists—that the actions taken by the federal government because the pandemic would lead to inflation.”

 

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