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Atlanta Economy Report | October 2020

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Atlanta’s economy and the Colliers Index remained stubbornly at 4 for the month of October.

The employment situation in September was again positive at 661,000 jobs gained; however, this was lower than the estimate of 800,000 jobs due to a drop in government hiring with virtual schooling still prevalent.

The national unemployment rate dropped again and is back below 8%. Although the unemployment data is positive overall for the month, the momentum of economic recovery has subsided. Additionally, more layoffs have turned permanent as new stimulus remains deadlocked in Congress.

Locally, Atlanta’s job market saw continued positive growth for a fifth consecutive month in August. The Atlanta metro has recovered just over 60% of the jobs lost because of the pandemic.

Current Market Conditions

Almost there! Now in the final quarter of the year, the end of 2020 is in sight… Hooray!

And yet, a number of mine fields lie in our path including ongoing spikes in COVID-19 infections, a possible chaotic end to the election and a holiday shopping season like no other.

Hold on tight!

Atlanta Economy

Shifting the focus to the local economy, the lack of severe economic impact from coronavirus on Atlanta is proving to be a bright spot in an otherwise dark forest.

As one of the first states to reopen its economy, Georgia is seeing a quicker recovery of business activity than much of the nation, all without a significant spike in its COVID-19 infection rate. The Atlanta economy continues to benefit from this.

Still, the metro area faces challenges, especially as it relates to its travel, tourism and filming industries.

Atlanta’s economic drivers such as logistics and tech growth, are powering the metro area’s progress though, and are expected to lead the market’s post-pandemic recovery for a prolonged period.

As fragile as the recovery may be nationally, Atlanta remain on the right course here.



Atlanta Economy Report | October 2020

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