Recent job growth, increases in personal income and improvements in state GDP are just a few signs of the economic progress Georgia has made in the last few years. At the end of 2019, the unemployment rate was 3.5 percent nationwide and 3.2 percent in Georgia—a record low for the state.
Despite occasional slowdowns, Georgia is outpacing the nation in several important socioeconomic metrics. Continuing growth amid tight labor markets suggests that income growth will remain solid, improving the outlook for state revenues.
These changes and more point to an overall positive outlook for the state in 2020. However, factors like unresolved trade tensions, political uncertainties, and the global effects of the coronavirus could dampen near-term growth.
Download Georgia’s Economic Landscape in 2020 to learn more about the current economic prospects and see what trends could challenge state growth.