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Vivenzio joins Coldwell Banker
Matt Vigh, managing Broker of
Coldwell Banker Platinum Partners,
has announced that
James Vivenzio is now
affiliated with Cold-
well Banker Platinum
Partners Brunswick
office.
Vivenzio, who has
an extensive back
ground in sales, has
held his real estate
license since 2004. He
also holds designations
for Graduate Realtor
Institue (GRI), Accred-
James Vivenzio
ited Buyers Representative (ABR)
and Certified Sellers Representative
(CSR).
"Real Estate is really
about people, whether
they're buying or selling,
whether it's an investment
property or the home they
plan to live in, ensuring
that their best interests
are represented is what
they expect and deserve,"
Vigh said.
Vivenzio can be reached
at 912-222-1063 or 912-
267-0054. □
Coastal Georgia’s unemployment rate drops in March
ATLANTA — The Georgia Depart
ment of Labor (GDOL) reported recent
ly that the unemployment rate in the
Coastal Georgia area declined to a
preliminary unadjusted rate of 7.8%
in March, down from a revised 8.2% in
February. The March jobless rate was
up 3.2 percentage points from 4.6% at
this same time last year.
Metro Brunswick's unemployment
rate drops to 8.2% in March
The Georgia Department of Labor
(GDOL) also reported that the unem
ployment rate in the metro Brunswick
area declined to a preliminary unad
justed rate of 8.2% in March, down
from a revised 8.4% in February. The
March jobless rate was up 3.9 percent
age points from 4.3% at this same time
last year. Labor market data is avail
able at www.dol.state.ga.us
State unemployment
Meanwhile, the state’s seasonally-
adjusted unemployment rate was 9.2%
in March, unchanged from a revised
9.2% in February. The “unchanged”
March unemployment rate is signifi
cant because this is the first time in 20
months that the rate did not increase
over the previous month.
An array of monthly employment
statistics presents a conflicting picture
of a job market struggling to regain its
footing.
The March jobless rate of 9.2 was up
3.6 percentage points from 5.6% at this
same time last year. Georgia’s unem
ployment rate also remained above the
national rate of 8.5% for the 17th con
secutive month. The number of payroll
jobs in March decreased 185,900, or
4.5% from March of 2008. The over-
the-year losses came in manufacturing
and construction, trade, transportation
and warehousing, along with profes
sional and business services, including
temporary employment agencies.
Despite the year-over-year loss of
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MAKING SENSE OF INVESTING
THE ISLANDER, MAY 4, 2009, PAGE 3
Business Upda
Unemployment Legislation signed
ATLANTA — Last month Governor
Sonny Perdue signed House Bill 581
into law. The legislation will allow
Georgia to draw down $226 million in
federal funds to shore up the state’s
unemployment trust fund.
“Signing HB 581 will help prevent
tax increases on Georgia businesses
so they can grow and create jobs,” said
Governor Perdue. “The changes in our
unemployment rules and regulations
are relatively minor, and I appreciate
the General Assembly’s willingness to
approve additional benefits for unem
ployed Georgians.”
Labor Commissioner Michael Thur
mond and committee chairmen Rep.
Mike Coan and Sen. Ralph Hudgens
worked closely with the Governor’s
Office to develop HB 581. To qual
ify for the federal funds, the state
expanded unemployment benefits by
jobs, Georgia managed to add 3,000
new jobs in March, the first month
ly increase since October of 2008. A
majority of the new jobs were created
in the retail and hospitality sectors.
During the first two weeks of April,
initial jobless claims in Georgia, which
have sustained over-the-year triple
digit increases, grew at about one-half
that pace. Initial claims are generally
considered to be a leading indicator of
future economic activity.
allowing people seeking part-time
work to qualify for unemployment.
In addition, Georgians can receive
unemployment while in a training
program if they were laid off from a
declining occupation and are training
for a high-demand occupation. These
changes will cost the state less than
$1.2 million a year.
HB 581 also provides extended
benefits for Georgians who have
exhausted their 26 weeks of regular
unemployment benefits. The provi
sion allows for an extra 13 weeks of
benefits, which will be funded entirely
by federal funds for almost all Georgia
employers. The provisions of the bill
are effective immediately; however
the Commissioner of Labor can delay
the start date of the extended benefits
provision until May 25, if he deems
such a delay necessary. “I
At present, 442,758 unemployed
Georgians are looking for work, an
increase of 64.1% over the year. Of
that number, 172,947, or 39.1%, are
receiving state unemployment insur
ance benefits, while another 84,700 are
receiving federal Emergency Unem
ployment Compensation.
The local area unemployment rates
are not seasonally adjusted. Georgia
labor market data are available at
www.dol.state.ga.us. □
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