Working in Georgia

Working in Georgia

Georgia is known as either the Peach State or Empire of the South. The gentile, Southern spirit and the hot, humid climate gives Georgians a reputation for taking a slower, laid-back approach to life.

Atlanta is the state capital and the most populous city in Georgia. Before the recession 2008-2010, economic growth and population migration from other states were moving along at rates much faster than any other major U.S. city.

Atlanta's economy has a large effect on the southeastern region of the United States. When the recent recession occurred, growth not only came to an abrupt halt, the economy contracted far worse than the rest of the nation. The southeast in general was hit harder than any other part of the country.

When the rest of the U.S. began to recover and add jobs, the most Georgia could muster was a decrease in the rate that jobs were lost. As of 2012, Georgia began to see positive job growth for the first time in five years.

Prior to 2008, real estate was booming in Atlanta and many other cities in Georgia. When the recession hit, home prices deflated to 1990s values. Construction, building trades, and real estate jobs have still not made any positive gains. Atlanta has one of the highest vacancy rates for commercial property.

Georgia has a very diverse economy and job market. Manufacturing and agriculture sectors have remained viable. Bucking the declining trend in those sectors, fewer companies were forced to cease operations in the Peach State compared with the rest of the nation.

Georgia leads the nation in textile, apparel, paper and wood product manufacturing. Agricultural products, such as peanuts and soybeans, still contribute significantly to the economy.

Many of these manufacturers also consume high-levels of energy. Over seventy-five percent of Georgia's electricity is supplied by coal. With many companies adopting greener policies, Georgia's position as the state with the highest electricity consumption has been a deterrent in attracting new business.

Research and development activity is still at low levels as well. Though many Fortune 500 companies have corporate operations located in Georgia, the recession slowed the influx of new global businesses.

Many expanding companies are centered on information technology and life sciences and Atlanta is home to the busiest commuter airport in the world, Hartsfield-Jackson Atlanta International Airport. The bedroom communities outside of Atlanta are home to many pilot and flight attendant families.

Georgia is beginning to recover, and like most regions of the country, health care workers and social service assistance occupations will see the most growth by 2018. Demand for elementary school teachers is expected to increase by almost thirty percent.

The United Bureau of Labor and Statistics reported Georgia's unemployment rate at 8.9 percent compared with the national average of 8.2 percent. Georgia's average annual salary is $37,000. Atlanta's unemployment rate is at 8.6%. The average wage is $56,000 annually.

Business going so well that you need to hire more staff? Is it time to get more workspace? Offices.net can help you find flexible, affordable business accommodation.