Economic Navigator: Georgia’s Economic Situation Report: Changing Trade Policy and Shifting Housing Markets 

Published May 22, 2025
Providing businesses, communities, and elected leaders with the most reliable information on economic trends is essential to guide informed decision making. These indicators mark key sectors of Georgia’s economy and show strength in growth and opportunity.
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.
  • Continue to evaluate supply chain and logistics models to assess where changes or diversification could be needed. For the latest information and further recommendations regarding trade policy, click HERE.
  • Businesses may identify tools to address concerns related to housing and childcare access such as moving packages or workplace flexibility.
  • Assess current employee needs gaps that may be addressed within the toolbox of actionable resources available to your organization.
  • The economic outlook remains fluid, shaped by ongoing national and global policy changes. Despite this volatility, key indicators point to increasing resilience across markets. Businesses are encouraged to stay focused on long-term strategic planning while remaining agile and responsive to emerging shifts in the economic landscape.
  • ¹Georgia Adds 6,900 Jobs in March as Unemployment Holds Steady at 3.6%. (2025, April 17). Georgia Department of Labor.
    [RETRIEVED HERE]
  • ²Lightcast Data Software (Retrieved 2025, May 13). Job Postings Report, all industries.
  • ³Redfin (Accessed 2025, May 13). Georgia Housing Market Report
    [RETRIEVED HERE]
  • ⁴US Census Bureau (Accessed 2025, May 13). Business Formation Statistics by State Visualization.
    [RETRIEVED HERE]
  • ⁵Federal Reserve Bank of St. Louis Fed (Accessed 2025, May 13). Real Gross Domestic Product: All Industry Total in Georgia.
    [RETRIEVED HERE]
  • ⁶Federal Reserve Bank of St. Louis Fed (Accessed 2025, May 13). Real Gross Domestic Product: Manufacturing (31-33) in Georgia.
    [RETRIEVED HERE]
  • ⁷Fact Sheet: Savannah Port Terminals by the Numbers, TEU Total for all Terminals. (Accessed 2025, May 13). Georgia Ports Authority.
  • ⁸Atlanta Federal Reserve (Accessed 2025, May 13). Home Ownership Affordability Monitor.
    [RETRIEVED HERE]
  • ⁹Fact Sheet: Market Logistics Snapshot March 2025. (Accessed 2025, May 13). Georgia Department of Economic Development.
    [RETRIEVED HERE]
  • ¹⁰Federal Reserve Bank of St. Louis Fed (Accessed 2025, May 13). Real Personal Consumption Expenditures PCEC96.
    [RETRIEVED HERE]
  • The Georgia Chamber Foundation dedicates itself to producing in-depth economic analyses and actionable insights for Georgia’s businesses. Our mission is to develop policy, equip businesses, and foster economic development across the state, ensuring a prosperous future for all Georgians.

    To read our 2025 Economic Competitiveness Redbook click HERE.

    To read our most recent Quarterly Report click HERE.

    For guidance and insights on the latest issues, visit our Data Hub.
    Join us for our Future of Small Business event on June 18 at Fall Line Station in Macon, GA. Register now HERE.

    The 2025 Georgia state-level competition for the National Civics Bee will be held at the Carter Center on June 27. For more information, contact scamuso@gachamber.com.

    Georgia Chamber Global Trade Impact Survey

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