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Atlanta Economy Report | July 2021

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The Colliers Index nudges upwards to a 6 for the month of July following an upbeat jobs report, and positive Atlanta economic traction.

The Colliers Index nudges upwards to a 6 for the month of July following an upbeat jobs report, and positive Atlanta economic traction. The U.S. jobs report for June showed better than expected gains, in spite of continued labor shortages. The nation has recovered 70% of the jobs lost as a result of the pandemic. Locally, Atlanta’s economy saw a nice bounce in jobs filled for the month of May and continues to claw itself back to pre-pandemic employment. Even with the positive momentum, however, inflation fears persist and this could affect the overall future sentiment of both the national and local economies. 

Atlanta economic outlook.

In addition to May’s increase in employment levels, the overall feeling for Atlanta’s economy is optimistic. Q2 data for the metro’s commercial real estate markets showed a slight rebound for the office market, an incredible quarter for industrial, a recovering retail market, and record demand for multi-family.

U.S. Employment

Not surprisingly, leisure and hospitality led employment gains again in June, most of these jobs being filled in food services and drinking places. A number of states ending extended unemployment benefits led to an increase in the labor force and most likely factored into the better than expected jobs report this month.

 

Download the full report to learn about the economic data contributing to the Atlanta economic outlook for July including:

  • Interest rates
  • Employment statistics
  • Unemployment rates
  • GDP
  • Oil
  • Real estate development

 

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Atlanta Economy Report | July 2021

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