Rajeev Dhawan, director at Georgia State’s Economic Forecasting Center, released the latest “Forecast of the Nation” and the “Forecast of Georgia and Atlanta” today. The Forecasting Center’s quarterly update comes amid a stall in the Chinese economy and a bit of a rollercoaster period on Wall Street. Dhawan remained positive though. Chinese devaluation of the yuan is “positive news for the economy overall” and will help to improve domestic profit margins on imported goods.
The Center’s report predicts positive growth for Georgia jobs over the next few year, gaining nearly 83,000 jobs in calendar year 2015, 87,500 next year and over 94,000 in 2017. This is expected to reverse the “sharp deceleration” in Georgia’s employment growth over the past year. The second half of 2014 saw 3.9 percent growth drop to just 1.7 percent in the first half of 2015. According to Dhawan, “As global economic health stabilizes, consumers demonstrate a greater propensity to spend and corporate spending resumes, Peach State job growth will accelerate to 2.6 percent for the 2015 calendar year.”
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