Georgia's economic recovery could take much longer than expected
(AP) -- Passage of the economic stimulus bill could take more than a year to stop a deepening recession, and a Georgia State
forecaster says it could be 2011 before significant job recovery comes to the state.
Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University, predicts Georgia will lose another 143,100 jobs in 2009. The quarterly economic forecast was released Wednesday. That's almost twice the roughly 90,000 lost in 2008. He points to continuing pullbacks in Georgia's hospitality sector.
Dhawan also says banks in the state are becoming more fragile. With six failing in the state over the past year, he says the Treasury's plan for solving the banking issue could be key to Georgia's recovery.
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