On May 15, the Georgia Department of Labor announced Georgia’s unemployment rate held steady at 3.6%. This is slightly higher than in March 2024, but unchanged over the past three quarters and holding below the National rate of 4.2%. Georgia jobs are up by 6,900 over March, and up 23,000 over the year.
The sectors with the most month-over-month job gains included healthcare and social assistance (+3,100); information (+2,400); administrative and support services (+1,300); management of companies and enterprises (+1,100); and durable goods manufacturing (+800).¹ This is consistent with high levels of job postings in the healthcare and social assistance and logistics industries across Georgia.
However, employment is down 14,000 over the year.¹ Unemployment rose but does not account for the full decrease in employment. Georgia’s labor market could be suffering both from a misalignment of skills, workforce leaving the Georgia job market altogether, or uncertainty in the market leading to hiring pauses.
The housing market continues to cool but unaffordability remains high. Homes in Georgia are staying on the market for near 70 days – up considerably from last year’s first quarter average of around 50 days.³ According to Atlanta Federal Reserve data, housing unaffordability in the Atlanta-Sandy Springs-Roswell area is trending higher year-over-year compared to 2023 and 2024, driven primarily by high sales prices and elevated mortgage rates. Smaller metropolitan areas in Georgia such as Macon and Columbus, have slightly more affordable housing markets but they too remain above the affordability threshold.⁸ Buyers could see a slight increase in affordability if prices continue to trend down, but high mortgage rates may continue to constrain market churn.
From February to March, the Port of Savannah saw a substantial uptick in twenty-foot equivalent unit (TEU) throughput activity. TEU throughput increased by over 54,000 TEUs, with Q1 2025 monthly average throughput surpassing that of Q1 2024. Nationally, U.S. export prices rose more than import prices in January, but flipped in February, with export prices rising only .1% compared to a .4% increase in import prices.⁹ The long-term impacts of recent trade policy shifts on the logistics industry remain unclear.
Consumer confidence declined, not only in expectations for business outcomes, but now in anticipated future income as well. This marks a shift from earlier optimism and may reflect rising uncertainty in the economic environment.⁹ Despite this, inflation-adjusted consumer spending continues to grow year-over-year, though at a slowing rate.¹⁰
To compare the findings in this report to the February 2025 report, click
HERE.