Georgia Experiencing Job Market Slowdown Amid Economic Uncertainty

News Summary

Georgia’s job market has hit record highs, but growth is expected to slow due to economic uncertainties. Layoffs from major companies and canceled projects highlight the challenges ahead. Despite a few growth areas, such as electric vehicle manufacturing, the overall outlook remains cautious as tariffs and inflation put pressure on job creation.

Atlanta, Georgia – According to Georgia’s Department of Labor, job counts in the state reached all-time highs in August. However, the state is facing a slowdown in job growth due to increased economic uncertainty, both locally and nationally. Experts predict that Georgia will add 50,900 jobs in 2025, a significant decline from the 57,700 jobs that were added in 2024.

Recent announcements regarding job cuts in metro Atlanta highlight weaknesses in the job market. Notable layoffs include those at CNN, where the media giant is undergoing workforce reduction. Additionally, three Macy’s locations in Atlanta are set to close, and the Centers for Disease Control and Prevention has also announced job cuts. Further compounding these issues, major electric vehicle battery plant projects from Freyr Battery and Aspen Aerogels have experienced cancellations and halts, signaling trouble in this emerging sector.

The key sectors that have traditionally supported Georgia’s middle class have lost nearly 9,000 jobs in the last 12 months and over 31,000 since the beginning of 2023. While there are signs of expansion in data center construction, this growth does not significantly contribute to overall job creation. On a brighter note, the state’s film and TV industry may gain momentum from productions relocating from Hollywood, particularly following the destruction caused by recent wildfires.

One area of growth is the Hyundai electric vehicle manufacturing factory near Savannah, which is expected to provide new job opportunities. However, national economic concerns, especially new tariffs imposed by former President Trump, could negatively impact Georgia’s job market. The 10% tariff on Chinese goods has led to reciprocal tariffs from China, which may disrupt trade at key ports, notably the Port of Savannah.

In terms of overall economic expansion, automation in logistics and the burgeoning robotics sector in metro Atlanta are anticipated to provide some growth, but overall job growth may still slow down due to external factors. Employment cuts from large companies can also exert pressure on the housing market, affecting regions where affected workers live. Consumer confidence has declined sharply, falling by 7 points in February, marking the most significant decrease since August 2021. Inflation remains a concern, with rates holding around 3%, exceeding the Federal Reserve’s target of 2%.

Economists are forecasting one or possibly two interest rate cuts in 2025 as speculation around external factors continues to grow. The job market in Georgia is expected to improve in 2026 and 2027, although tariffs could potentially hinder this growth. Nationwide, the job market has reported the slowest average monthly gains since 2010, contributing to the ongoing uncertainties influenced by federal economic policies.

In August 2025, the US reported an increase of only 22,000 jobs, alongside a rise in unemployment to 4.3%. Although the healthcare sector is leading growth in the US job market, it influences only about 15% of the overall workforce. Wage growth has also taken a dip, with the annual growth rate decreasing to 3.7% in August, down from 3.9% in July. Many economists warn that limited job additions leave the economy vulnerable to unexpected shocks.

Deeper Dive: News & Info About This Topic

• AJC: Experts Forecast Slower Job Growth in Georgia
• Google Search: Georgia job growth
• CoStar: Atlanta’s Job Growth is Slowing
• Wikipedia: Economy of Georgia
• Rough Draft: Georgia Job Growth Trends
• Encyclopedia Britannica: Job Market
• The Atlanta Voice: US Job Market Stalling
• Google News: Job Market 2025
• CNBC: Wage Growth for Job Switchers and Stayers
• Axios: Georgia Data Center Job Growth