On one hand, that trend may seem positive, but for an economic developer trying to attract new business, these low unemployment rates imply that labor is scarce and tend to discourage new business locations. However, across the state, anecdotal evidence suggests that there is plenty of labor available for hire. Typically, the scenario is that a local company is expanding and gets at least 15 to 20 good applicants for each new job it has available. In 1998, EDRP staff began to develop methods for communities to use in estimating their level of underemployment. When unemployment rates are low, prospects tend to believe that labor is unavailable and may look to locate elsewhere.
EDRP research reveals that no simple yet reliable means of estimating underemployment exists.
The next step for EDRP staff is to test the methodology in a community, make any adjustments necessary, and then provide Georgia communities with a comprehensive tool with which to better quantify their labor markets. Because the implementation step in the research is so important to the usefulness of findings to date, the final report will not be published until the methodology has been tested in a community. EDRP researchers expect this to occur beginning early this year. The final report should be available by this June.