Do not make the mistake of thinking that because my conclusion is the same as another person's that my reasoning is the same
Improved Economy Doesn't Lead to Popping of Corks in Atlanta
By DAVID LEONHARDT
ATLANTA, Nov. 14 � This city, which boomed even more than the rest of the country in the 1990's and busted even harder when the century turned, may well be the epicenter of the economy's emerging recovery.
Every day, nearly around the clock at the airport here, dozens of workers in hulking trucks are moving enough dirt to build a two-mile-long, 70-foot-high hill for a new runway. Hotels are fuller than they were a year ago, state tax revenues are rising again and the Atlanta area added more than twice as many jobs to its economy during the 12 months that ended in September as any other metropolitan area, the Labor Department says.
For all of the encouraging signs, however, the economic mood here has remained decidedly measured. If anything, it seems far more similar to the anxiety of the last couple of years than the breathless optimism that filled the 90's, many workers, business executives and economists say.
"If you look back over the last couple years, this is the first time we've made it to October or November without seeing the economy turn down again," said James H. Reese, president of Randstad North America, which runs 28 temporary-help offices in the area. "But we're not ready to scream victory or wave the flag by any stretch of the imagination."
In this way, the city seems typical of much of the country, where economic growth is finally fast enough to create jobs but many people worry that the good news will be fleeting.
There are reasons for the caution. Many of the new jobs here are only temporary, and even many of the permanent ones pay less than those in the shrunken manufacturing and technology sectors did.
Personal income growth continues to trail inflation in Atlanta, according to Economy.com, a research company that follows regional trends. The bankruptcy rate has remained almost 35 percent higher this year than it was in 2000.
Maria Del Conte says she is thrilled with her temporary job as an administrative assistant at an engineering company north of the city, having lost two other jobs in the last two years. But Ms. Del Conte is still making about 25 percent less than she did before 2001, when she worked as a meeting planner for pharmaceutical companies.
"Because of the economy, there is no chance of becoming a permanent employee" in her new job, said Ms. Del Conte, who lives in Kennesaw, an Atlanta suburb, with her teenage daughter.