Atlanta’s Jobless Rate Drops to 8.9% in August
Metro Atlanta’s jobless rate seems to be moving in the right direction. According to the state labor officials, about 8.9% of Atlantans were out of work in August, compared to 9.2% in July. The Georgia Department of Labor says there were fewer layoffs last month. In addition, students left summer jobs to return to school. Mercer University economics professor Roger Tutterow says Atlanta’s overall jobs picture is improving, but the recovery will be gradual.
“Unfortunately, because of the depths of the recession, we still have higher unemployment than the national average,” he says, “And, unfortunately, statewide and in Atlanta, we shed more jobs than the national average during the recession of 2008, 2009.”
Tutterow says that’s because some of Atlanta’s biggest industries, such as real estate and construction, were hit especially hard.
“I think as we go forward, we will see the residential real estate firm some,” Tutterow explains, “But, it dropped so far, we’re talking about several years before we get back toward residential real estate feeling like it’s firing on all cylinders.”
Tutterow says the sectors that are likely to show the most growth will be professional business services, such as law firms, accounting firms, and temp agencies.