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Economic Slowdown Catching Up with Atlanta, Georgia State University Report Shows

ATLANTA-Forecasters predict the metro economy will slow this year then pick back up in 2002. After adding 108,300 jobs in 2000, Georgia is likely to add only 34,200 jobs this year, the report predicts. But new jobs will jump to 75,700 in 2002 and 89,300 in 2003.

By Judith Schonbak | Updated on March 02, 2001

ATLANTA-The local economic engine is slowing after a decade of fast-paced growth. Following the national trend, economic growth in the metro area and all of Georgia, slowed sharply in the second half of 2000, according to the Economic Forecasting Center at Georgia State University.

The center released its Spring Quarter forecast, predicting the slowdown will likely last through the year. But the report expects the local and state economy to rebound in 2002 and into 2003, however.

Atlanta’s unemployment rate, which fell to 2.8% in 2000, has climbed above 3%. The report estimates it will rise to 3.3% this year and 3.5% in 2002, largely as a result of wide-sread layoffs and restructurings among technology companies.

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