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Georgia, again, has the nation’s highest unemployment rate
Georgia, yet again, has the nation’s highest unemployment rate, according to statistics released Friday by the federal Bureau of Labor Statistics. For the third month running, Georgia’s rate — 7.7 percent in October — topped Mississippi, Alabama and every other state in the nation. North Dakota, swimming in oil and gas jobs, again had the lowest jobless rate at 2.8 percent. The national rate is 5.8 percent. AJC.com
Submitted 2 years 94 days ago

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Immigration order’s economic impact probably minimal, possibly negative
WASHINGTON — Will 5 million unauthorized immigrants start pushing U.S. citizens out of their jobs now? Will they start getting government benefits and draining city hall budgets? Or will they start moving up the ladder, paying taxes and giving a boost to the economy? President Barack Obama’s decision to protect them from deportation and allow them to apply for work permits actually is likely to produce none of those scenarios. It packs little economic punch because the immigrants are already here and the reprieve is only temporary. Dallas Morning News
Submitted 2 years 94 days ago

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Texas adds 35,200 jobs in October, unemployment rate falls to 5.1 percent
Texas is keeping up its steady job growth, adding 35,200 jobs in October, the Texas Workforce Commission reported today. Employers statewide have added 30,000 or more seasonally adjusted jobs every month so far this year. The government also revised September’s employment number up to 36,400 jobs, from an initial 34,600. Texas ranked No. 2, after California’s 41,500 new jobs, last month. However, the state still leads the nation for its record 421,900 jobs added over the last 12 months. Overall, October employment increased in 38 states and decreased in 12 states plus Washington, D.C., according to data from the U.S. Bureau of Labor Statistics. Nevada saw the largest monthly job loss (-7,300). The Dallas Morning News
Submitted 2 years 94 days ago

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How Tennessee's Lamar Alexander would fix Obamacare
When Republicans officially take control of the Senate at the start of 2015, U.S. Sen. Lamar Alexander (R-Tenn.) will land the role of chairman on the Senate Committee on Health, Education, Labor & Pensions. Since Alexander hails from a state where health care is, in many ways, king, I chatted with the senator Wednesday morning to get a sense of what he'd like to see happen to the Affordable Care Act under a Republican-controlled Congress. "Obviously we would prefer to repeal and replace this. And there will probably be a vote and I will vote for it," Alexander said. He added, though, that it's very unlikely Barack Obama would sign a law repealing the signature health reform bill that colloquially bears his name. Nashville Business Journal
Submitted 2 years 94 days ago

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American's Doug Parker talks bag fees, possible HQ move out of Fort Worth and labor talks
From bag fees to possibly moving the company's headquarters out of Fort Worth, American Airlines CEO Doug Parker hit all the hot topics at Thursday morning's Fort Worth Chamber of Commerce breakfast. He was the keynote speaker and talked to media afterwards to answer specific questions at the Fort Worth Convention Center. On record profits in 2014: American will have the "best year in the company's history in terms of profit. It allows us to invest in our product and our people. We're happy to be in that position. It's dramatically different from where the company has been the last few years." When asked whether these record profits mean an end to bag fees, Parker said: Dallas Business Journal
Submitted 2 years 94 days ago

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Gildan plans $23M expansion of Rockingham County, N.C., facility
Canadian sportswear company Gildan Activewear Inc. is planning a $23 million expansion of its distribution hub in Eden. Rockingham County commissioners approved $448,720 of incentives for the project, said Jan Critz, director of economic development for the Rockingham County Partnership for Economic and Tourism Development. The city of Eden is also considering incentives. The project includes an investment of $12.7 million in equipment and $10.4 million in building improvements, Critz said. Charlotte Business Journal
Submitted 2 years 94 days ago

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Kia debuts Georgia-built 2016 Sorento at LA auto show
Kia Motors America debuted its 2016 Sorento CUV this week at the Los Angeles Auto Show. The company's Sorento and Optima models are built in Georgia. Kia said Sorento buyers can choose from three engines, including a new 2.0-liter turbocharged four cylinder, the 3.3-liter V6 and an improved 2.4-liter normally aspirated inline-4. U.S. sales start the first quarter of 2015. Prices will be announced closer to Sorento's launch date, the company said. Atlanta Journal Chronicle
Submitted 2 years 94 days ago

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New N.C.-built HondaJet wins Popular Science award
The HondaJet has been selected by Popular Science magazine as a "Best of What's New" award winner for 2014. The lightweight business plane from Greensboro-based Honda Aircraft Co. was recognized in the aerospace category for a combination of performance, fuel efficiency and passenger comfort. The magazine noted the jet's over-the-wing engine positioning, which reduces drag. "Our goal with the HondaJet was to create a Honda-original airplane that would bring new value to customers through new and advanced technologies," said Michimasa Fujino, CEO of Honda Aircraft. "Being recognized by Popular Science as one of the greatest innovations is truly exciting." Triad Business Journal
Submitted 2 years 94 days ago

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Savannah's Gulfstream delivers 100th G650
Savannah-based Gulfstream Aerospace Corp. says it has manufactured and delivered its 100th G650. The ultra-long-range business jet was delivered to a customer on Nov. 14, the company says. "The production of the 100th G650 is a testament to the demand for this amazing aircraft," Gulfstream president Larry Flynn said in a press release. "It truly set a new world standard for performance, range, speed, safety and comfort when it entered into service in December 2012. The completion of the 100th aircraft also speaks volumes about the skilled employees who build these planes." Atlanta Journal Chronicle
Submitted 2 years 94 days ago

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Jacksonville leads the nation in bank branch openings. Here's why.
While the number of bank branches nationwide is shrinking, Jacksonville is bucking that trend: Northeast Florida ranks No. 1 in the country for branch openings with a net gain of 11 over the year ending Sept. 30. The data is according to a survey by the SNL Financial analyst group, which found that over the last four quarters banks and thrifts opened a total of 1,137 branches and closed 2,599 for a net loss of 1,462 branches in the U.S. Certainly, Jacksonville's increase can be attributed largely to JPMorgan Chase and Co.'s large push into the Northeast Florida market over the last 12 months. Chase (NYSE:JPM) opened eight branches between the third quarters of 2013 and 2014 . (And it hasn't stopped: The most recent opening was earlier this week in Neptune Beach, at Seminole Road and Atlantic Boulevard.) Jacksonville Business Journal
Submitted 2 years 94 days ago

 

 

 

Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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