The Colliers Index remains at an 8 once again thanks to strong local and national job growth, bullish 2020 GDP projections, and positive market fundamentals. The United States added 225,000 jobs in January, beating forecasted numbers by over 60,000 jobs. While there are still headwinds of trade and tariff uncertainty, these headwinds have been lessened from where we were a year, or even six months ago. A banner year for jobs in Atlanta combined with a steady unemployment rate and a 3.1% uptick in national average hourly earnings point towards a strong start to 2020.
Jobs - Atlanta
Atlanta finished 2019 on a high note, adding 11,800 jobs in the month of December. This was the largest December job growth dating back to the pre-recession economy. In 2019 Atlanta grew by 66,700 jobs, the best year for the metro area since 2016. While the unemployment rate rose from 2.6% to 2.7% in December, 20,000 people were added to the workforce (not all of whom found work), which accounts for that slight uptick in the unemployment rate.