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Regional Snapshot:
Metro Atlanta’s Economy
Atlanta Regional Commission | March 2023
For more information, contact:
mcarnathan@atlantaregional.org
In summary…
2 3
Registered Nurses tops the list of jobs most
in demand, according to unique postings
data from February 2022 to January 2023.
4
Inflation has risen faster in metro Atlanta
than in most places, having increased just
over 8% over the past year.
5
According to The Conference Board, a
recession is likely sometime in 2023,
although plenty of experts are weighing in
to offer insights and/or other opinions.
1
Atlanta’s employment recovery from the
"pandemic plunge" has been one of the
strongest in the nation, with nearly 6% job
growth since before the pandemic.
The biggest change in jobs demanded
since the start of the pandemic are low-
wage in nature and are for workers in
freight, food service, and retail.
6
National home prices have increased four
times faster than have wages since 2014.
Metro Atlanta surpassed
the three million job mark
for the first time ever in
October 2022. The
COVID-19 pandemic
hit employment numbers
hard in early 2020, but
employment was again
growing quickly by 2021.
2,000
2,200
2,400
2,600
2,800
3,000
3,200
Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Apr-13
Jul-13
Oct-13
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Total Employment, Metro Atlanta (000s)
Source: Bureau of Labor Statistics
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
% Change in overall jobs since Pre-Pandemic (Feb. 2020 – Nov
2022)
Metro Atlanta’s job
base recovery from
the pandemic is one
of the strongest in the
nation, trailing only
Austin and Dallas in
the chart shown.
Source: Bureau of Labor Statistics
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
% Change, Pre-Pandemic (Feb 2020 – Nov 2022)
The pandemic has greatly
influenced which sectors are
recent “winners”. The
Information and Transportation
& Warehousing industries have
experienced the greatest job
growth from February 2020
through November 2022-- at
nearly 20% growth each.
Source: Bureau of Labor Statistics
0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000
Registered Nurses
Software Developers
Sales Reps, Wholesale & Manu, not Tech, Scientific
Retail Salespersons
First-Line Supervisors of Retail Sales Workers
Customer Service Representatives
Computer Occupations, All Other
Laborers and Freight, Stock, and Material Movers, Hand
Managers, All Other
Heavy and Tractor-Trailer Truck Drivers
Fast Food and Counter Workers
Maintenance and Repair Workers, General
General and Operations Managers
Food Service Managers
Sales Managers
Marketing Managers
Medical and Health Services Managers
Secretaries and Admins, not Legal, Med, Exec
Stockers and Order Fillers
Human Resources Specialists
Accountants and Auditors
Waiters and Waitresses
Janitors and Cleaners
Financial Managers
Management Analysts
Computer User Support Specialists
Home Health and Personal Care Aides
Computer Systems Analysts
Unique Postings (February 1, 2022 - January 31, 2023)
Now let’s look at the Demand Side…
As far as overall
demand in job
postings– i.e. what
employers are
seeking--Registered
Nurses tops the list
for the last year .This
isn’t surprising, as
Registered Nurses
have historically
been one of the
most sought-after
occupations.
Source: Lightcast
-40.0% -20.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0%
Laborers and Freight, Stock, and Material Movers, Hand
Fast Food and Counter Workers
Food Service Managers
First-Line Supervisors of Retail Sales Workers
General and Operations Managers
Maintenance and Repair Workers, General
Human Resources Specialists
Marketing Managers
Heavy and Tractor-Trailer Truck Drivers
Retail Salespersons
Managers, All Other
Customer Service Representatives
Secretaries and Admins, not Legal, Med, and Exec
First-Line Supervisors of Office and Admin Workers
Registered Nurses
Medical and Health Services Managers
Project Management Specialists
Financial Managers
Market Research Analysts and Marketing Specialists
Bookkeeping, Accounting, and Auditing Clerks
Data Scientists
Accountants and Auditors
Computer User Support Specialists
Sales Reps, Wholesale and Manufacturing, not tech/science
Computer Occupations, All Other
Sales Managers
Software Developers
Management Analysts
Computer Systems Analysts
Web Developers
% Difference in Postings Pre-Pandemic (Nov 2018-2019) Compared to
Now (Nov 2021-Nov 2022)
Occupations most in
demand today, relative
to pre-pandemic, tend
to be those with lower
wages. Registered
nurses and software
developers, tops on
the list of unique
postings from the
previous slide, are
much lower on this
one. For those sectors,
demand has been
fairly consistent from
before the pandemic
through to now.
Source: Lightcast
Source: Bureau of Labor Statistics
Despite a 12%
increase in real
wages since
February 2020,
metro Atlanta still
ranks in the middle-
of-the-pack in
terms of overall
wage increases.
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
Wage Change Since February 2020 (Nominal)
Source: Bureau of Labor Statistics
As can be seen, inflation
has run a little bit hotter
in Atlanta than in the
nation as a whole over
the past 18 months or so.
Because Atlanta is one of
the fastest growing
metro areas in the nation,
new residents are
moving here, bidding up
prices – especially for
housing – which helps
explain why inflation in
metro Atlanta is
particularly high.
-6.00%
-4.00%
-2.00%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
Feb-03
Jul-03
Dec-03
May-04
Oct-04
Mar-05
Aug-05
Jan-06
Jun-06
Nov-06
Apr-07
Sep-07
Feb-08
Jul-08
Dec-08
May-09
Oct-09
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-12
Sep-12
Feb-13
Jul-13
Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17
Feb-18
Jul-18
Dec-18
May-19
Oct-19
Mar-20
Aug-20
Jan-21
Jun-21
Nov-21
Apr-22
Sep-22
Inflation: Metro Atlanta and National Trends
Atlanta-Sandy Springs-Roswell, GA National
Source: Lightcast
As for which companies
are most active on the
job boards, it shouldn’t
come as a surprise that
many hospital systems
rank near the top, given
the high demand for
Registered Nurses and
Medical and Health
Services Managers.
0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000
Emory Healthcare
Wellstar Health System
Randstad
The Home Depot
Amazon
Piedmont Healthcare
Marriott International
State of Georgia
Walmart
Northside Hospital
Jobot
KPMG
Robert Half
Truist Financial
Cox Communications
Children's Healthcare Of Atlanta
Deloitte
Georgia Institute of Technology
Macy's
Chick-fil-A
UnitedHealth Group
Delta Air Lines
Cynet Systems
Hilton Hotels & Resorts
The Judge Group
TJX
Accenture
CVS Health
Unique Postings (February 1, 2022 - January 31, 2023)
Source: Lightcast
While advertised
salary ranges are
skewed toward
$70K and higher,
and are not
published as
much as job
seekers or data
users would
wish, the median
advertised salary
was $42,700 (for
those postings
that included a
salary).
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Salary Ranges for Advertised Positions
30
31
32
33
34
35
36
37 Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Apr-13
Jul-13
Oct-13
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Atlanta Average Hourly Wages (Inflation Adjusted)
Hpurly wage growth is
still strong by historical
standards but is slowing
as more lower-wage
workers come back to
work. These low-wage
jobs --which
disappeared during the
pandemic-- are
beginning to make a
comeback, which puts
downward pressure on
the overall average
hourly wage.
Source: Bureau of Labor Statistics
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Annual % Change in Inflation
Over the past year, or so,
inflation has risen faster in
metro Atlanta then in most
other major metros. The
latest figures, though,
show metro Atlanta ranks
4th among these peer
metros.
Source: Bureau of Labor Statistics
Lots of experts are
weighing in on
whether or not we
are likely to soon
see a recession.
Sources: Redfin, Bureau of Labor Statistics
According to The
Conference Board,
a recession is likely
sometime in 2023,
as indicated on the
chart by the red
“recession signal.”
Source: The Conference Board
95
115
135
155
175
195
215
235
255
275
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Wages And Home Price Appreciation
Home Price (Indexed) Wage (Indexed)
Nationally, home prices
have increased four times
faster than have wages
since 2014. However, we
did see the home price
index fall modestly over
the course of 2022.
Sources: Redfin, Bureau of Labor Statistics

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Economy Snapshot

  • 1. Regional Snapshot: Metro Atlanta’s Economy Atlanta Regional Commission | March 2023 For more information, contact: mcarnathan@atlantaregional.org
  • 2. In summary… 2 3 Registered Nurses tops the list of jobs most in demand, according to unique postings data from February 2022 to January 2023. 4 Inflation has risen faster in metro Atlanta than in most places, having increased just over 8% over the past year. 5 According to The Conference Board, a recession is likely sometime in 2023, although plenty of experts are weighing in to offer insights and/or other opinions. 1 Atlanta’s employment recovery from the "pandemic plunge" has been one of the strongest in the nation, with nearly 6% job growth since before the pandemic. The biggest change in jobs demanded since the start of the pandemic are low- wage in nature and are for workers in freight, food service, and retail. 6 National home prices have increased four times faster than have wages since 2014.
  • 3. Metro Atlanta surpassed the three million job mark for the first time ever in October 2022. The COVID-19 pandemic hit employment numbers hard in early 2020, but employment was again growing quickly by 2021. 2,000 2,200 2,400 2,600 2,800 3,000 3,200 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Total Employment, Metro Atlanta (000s) Source: Bureau of Labor Statistics
  • 4. 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% % Change in overall jobs since Pre-Pandemic (Feb. 2020 – Nov 2022) Metro Atlanta’s job base recovery from the pandemic is one of the strongest in the nation, trailing only Austin and Dallas in the chart shown. Source: Bureau of Labor Statistics
  • 5. -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% % Change, Pre-Pandemic (Feb 2020 – Nov 2022) The pandemic has greatly influenced which sectors are recent “winners”. The Information and Transportation & Warehousing industries have experienced the greatest job growth from February 2020 through November 2022-- at nearly 20% growth each. Source: Bureau of Labor Statistics
  • 6. 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 Registered Nurses Software Developers Sales Reps, Wholesale & Manu, not Tech, Scientific Retail Salespersons First-Line Supervisors of Retail Sales Workers Customer Service Representatives Computer Occupations, All Other Laborers and Freight, Stock, and Material Movers, Hand Managers, All Other Heavy and Tractor-Trailer Truck Drivers Fast Food and Counter Workers Maintenance and Repair Workers, General General and Operations Managers Food Service Managers Sales Managers Marketing Managers Medical and Health Services Managers Secretaries and Admins, not Legal, Med, Exec Stockers and Order Fillers Human Resources Specialists Accountants and Auditors Waiters and Waitresses Janitors and Cleaners Financial Managers Management Analysts Computer User Support Specialists Home Health and Personal Care Aides Computer Systems Analysts Unique Postings (February 1, 2022 - January 31, 2023) Now let’s look at the Demand Side… As far as overall demand in job postings– i.e. what employers are seeking--Registered Nurses tops the list for the last year .This isn’t surprising, as Registered Nurses have historically been one of the most sought-after occupations. Source: Lightcast
  • 7. -40.0% -20.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 160.0% Laborers and Freight, Stock, and Material Movers, Hand Fast Food and Counter Workers Food Service Managers First-Line Supervisors of Retail Sales Workers General and Operations Managers Maintenance and Repair Workers, General Human Resources Specialists Marketing Managers Heavy and Tractor-Trailer Truck Drivers Retail Salespersons Managers, All Other Customer Service Representatives Secretaries and Admins, not Legal, Med, and Exec First-Line Supervisors of Office and Admin Workers Registered Nurses Medical and Health Services Managers Project Management Specialists Financial Managers Market Research Analysts and Marketing Specialists Bookkeeping, Accounting, and Auditing Clerks Data Scientists Accountants and Auditors Computer User Support Specialists Sales Reps, Wholesale and Manufacturing, not tech/science Computer Occupations, All Other Sales Managers Software Developers Management Analysts Computer Systems Analysts Web Developers % Difference in Postings Pre-Pandemic (Nov 2018-2019) Compared to Now (Nov 2021-Nov 2022) Occupations most in demand today, relative to pre-pandemic, tend to be those with lower wages. Registered nurses and software developers, tops on the list of unique postings from the previous slide, are much lower on this one. For those sectors, demand has been fairly consistent from before the pandemic through to now. Source: Lightcast
  • 8. Source: Bureau of Labor Statistics Despite a 12% increase in real wages since February 2020, metro Atlanta still ranks in the middle- of-the-pack in terms of overall wage increases. 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% Wage Change Since February 2020 (Nominal)
  • 9. Source: Bureau of Labor Statistics As can be seen, inflation has run a little bit hotter in Atlanta than in the nation as a whole over the past 18 months or so. Because Atlanta is one of the fastest growing metro areas in the nation, new residents are moving here, bidding up prices – especially for housing – which helps explain why inflation in metro Atlanta is particularly high. -6.00% -4.00% -2.00% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% Feb-03 Jul-03 Dec-03 May-04 Oct-04 Mar-05 Aug-05 Jan-06 Jun-06 Nov-06 Apr-07 Sep-07 Feb-08 Jul-08 Dec-08 May-09 Oct-09 Mar-10 Aug-10 Jan-11 Jun-11 Nov-11 Apr-12 Sep-12 Feb-13 Jul-13 Dec-13 May-14 Oct-14 Mar-15 Aug-15 Jan-16 Jun-16 Nov-16 Apr-17 Sep-17 Feb-18 Jul-18 Dec-18 May-19 Oct-19 Mar-20 Aug-20 Jan-21 Jun-21 Nov-21 Apr-22 Sep-22 Inflation: Metro Atlanta and National Trends Atlanta-Sandy Springs-Roswell, GA National
  • 10. Source: Lightcast As for which companies are most active on the job boards, it shouldn’t come as a surprise that many hospital systems rank near the top, given the high demand for Registered Nurses and Medical and Health Services Managers. 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 Emory Healthcare Wellstar Health System Randstad The Home Depot Amazon Piedmont Healthcare Marriott International State of Georgia Walmart Northside Hospital Jobot KPMG Robert Half Truist Financial Cox Communications Children's Healthcare Of Atlanta Deloitte Georgia Institute of Technology Macy's Chick-fil-A UnitedHealth Group Delta Air Lines Cynet Systems Hilton Hotels & Resorts The Judge Group TJX Accenture CVS Health Unique Postings (February 1, 2022 - January 31, 2023)
  • 11. Source: Lightcast While advertised salary ranges are skewed toward $70K and higher, and are not published as much as job seekers or data users would wish, the median advertised salary was $42,700 (for those postings that included a salary). 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Salary Ranges for Advertised Positions
  • 12. 30 31 32 33 34 35 36 37 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Atlanta Average Hourly Wages (Inflation Adjusted) Hpurly wage growth is still strong by historical standards but is slowing as more lower-wage workers come back to work. These low-wage jobs --which disappeared during the pandemic-- are beginning to make a comeback, which puts downward pressure on the overall average hourly wage. Source: Bureau of Labor Statistics
  • 13. 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Annual % Change in Inflation Over the past year, or so, inflation has risen faster in metro Atlanta then in most other major metros. The latest figures, though, show metro Atlanta ranks 4th among these peer metros. Source: Bureau of Labor Statistics
  • 14. Lots of experts are weighing in on whether or not we are likely to soon see a recession. Sources: Redfin, Bureau of Labor Statistics
  • 15. According to The Conference Board, a recession is likely sometime in 2023, as indicated on the chart by the red “recession signal.” Source: The Conference Board
  • 16. 95 115 135 155 175 195 215 235 255 275 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Wages And Home Price Appreciation Home Price (Indexed) Wage (Indexed) Nationally, home prices have increased four times faster than have wages since 2014. However, we did see the home price index fall modestly over the course of 2022. Sources: Redfin, Bureau of Labor Statistics
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