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Georgia economy set to simmer; affordable housing still a draw

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in Human Resources

Georgia’s economy is slowing down but is still in sync with the national economy, according to the Economic Forecasting Center at Georgia State University.

In 2006, the state was expected to add about 82,200 jobs, compared to 92,000 in 2005. Despite the slowdown, job-seekers still have bright prospects in several industries. The health care, tourism and retail sectors will continue to add jobs, but at a slower pace.

The Georgia housing market will continue to slump, but the shock will be less painful than nationwide. Home prices in the state never skyrocketed as they did in other areas of the country. That’s a positive sign, as affordable housing is one of Georgia’s greatest draws for prospective employees leaving high-cost areas along the East Coast.

The study predicted employment growth rates of 2.1 percent for 2006, 1.5 percent in 2007 and 1.8 percent in 2008.  

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