Among the positions being filled, he said, are loan officers, underwriters, loan processors and customer service jobs for offices in Buckhead and Alpharetta. That is a sign that the Atlanta property market is still strong.
But, in large sectors of the economy, the continued spread of the coronavirus is chilling consumer spending, Wald said. “The bad news is that, even with the reopens, there are still more than 600,000 people in Georgia receiving unemployment benefits. That’s more than the populations of Augusta, Columbus, Savannah and Albany combined. “
Meanwhile, those who lost jobs due to the pandemic no longer receive an additional $ 600 a week from the federal government. So far, a bitterly divided Congress has been unable to reach a compromise on a new aid package.
Other data shows that the reopening of the economy is far from complete.
At the end of July, Georgians worked 21% fewer hours than at the end of February, while in Metro Atlanta, hours worked decreased 26%, said Andrew Vogeley, product manager for Homebase, which sells a scheduling tool. and time tracking.
Things were looking better a month ago, he said.
In mid-June, more people worked longer hours, Vogeley said. Both Georgia and Atlanta have fallen from the mid-June peaks. Atlanta had been outperforming the rest of the country, but now it’s lagging behind. ”
Nationally, the United States Department of Labor reported 1.4 million initial jobless claims filed, an increase of 12,000 from the previous week.
Flooded with the flood of unprecedented claims, the Georgia Department of Labor lagged far behind. Many who are unemployed have waited months for their benefits to be paid. But, after a slow improvement, the state has made payments to 92% of claims deemed valid, said Mark Butler, the state’s labor commissioner.
The state Department of Labor has struggled for months with an unprecedented wave of layoffs, plus it needs to implement new federal programs. Mark Butler, Georgia labor commissioner, says the latest proposals for unemployment benefits will make the situation even more difficult.
Credit: contributed
Credit: contributed
With the unprecedented level of unemployment claims, the money to pay the benefit is running out. The balance in the state unemployment insurance fund is now less than 25% of the $ 2.5 billion it had when the crisis began.
If that fund ran out, Georgia would need to borrow from the United States Treasury to make the payments.
Many of the claims come from those who lost jobs in hotels, food services, healthcare and social assistance, retail, administrative services and manufacturing, the Labor Department said.
Many of those jobs had lower wages.
According to the Census Bureau, more than 50% of adults who earn $ 75,000 or less annually have lost income during the pandemic. For those whose pay was $ 25,000 or less, at least 60% have lost income.
“This recession is having a horrible impact on people who are less able to cope with that impact,” said Mike Alexander, director of the Center for Livable Communities at the Atlanta Regional Commission.
New unemployment claims in Georgia
Weekend
June 6: 135,254
June 13: 131,997
June 20: 125,725
June 27: 117,485
July 4: 105,160
July 11: 138,452
July 18: 122,313
July 25: 84,984
Sources: US Employment and Training Administration, Georgia Department of Labor
