Author: Jeffrey Humphreys

Economy: Jobs Recovery

Georgia will fully recover the jobs lost to the COVID-19 recession much faster than it recovered jobs lost to either the 2001 recession or the Great Recession. Of course, the jobless recoveries that followed those recessions set a low bar.…

2021 Industry Outlook

While the COVID-19 pandemic seriously damaged Georgia’s economy last year, the state fared better than the nation, and many forces are at work that will sustain economic recovery throughout 2021. In fact, the forecast calls for Georgia’s inflation-adjusted gross domestic…

Economy: Housing Boom

Despite COVID-19, Georgia’s homebuilding industry did very well in 2020 and is likely to rise in 2021. The boom will be broadly based and will include increases in sales of new and existing homes, permits to build single-family and multi-family…

Economy: Continued Recovery

The COVID-19 recession was brief but steep and did a lot of damage to Georgia’s economy. The peak-to-trough drop in employment was 11%, worse than the 8% drop caused by the Great Recession. But, unlike the Great Recession, the COVID-19…

Economy: Money on the Table

Postsecondary education pays off. That’s true for Georgians who earn college degrees as well as for Georgia’s economy as a whole. And it’s true during good economic times and bad ones. Despite COVID-19, the payoff is likely to increase in…

Economy: Automation Acceleration

As we look ahead to life and work after a pandemic, one legacy of COVID-19 will surely be the accelerated adoption of automation, artificial intelligence (AI) and other technologies that facilitate remote work and social distancing. In addition to making…

Economy: Will We Recover?

COVID-19 unexpectedly ended the nation’s record-long economic expansion, triggering sharp declines in economic activity and employment. Full recovery from the COVID-19 recession will not come quickly, but we will get through this. Georgia’s economic development prowess and a pipeline full…

Economy: Atlanta Ascending

This year, Atlanta can expect continued economic expansion, underpinned by business development, an educated workforce, innovation, above-average population growth and the housing recovery. The pace of job growth, however, will slow sharply, reflecting external factors such as the trade war,…

Economy: Slower Growth

It’s a new decade, and 2020 calls for economic expansion in Georgia to continue, but growth in state GDP and employment will decelerate significantly. Six forces will keep Georgia’s economy growing in 2020. First, consumer spending will be the most…