Atlanta No. 2 for Job Growth

Hizzoner Kasim Reed sent out an email today touting a recent Arizona State University study that found Atlanta had the second-fastest job growth of “major metropolitan areas” in 2011.

From The AJC report:

Only Houston beats Atlanta, according to researcher Lee McPheters, whose findings are based on the latest jobs figures from the U.S. Bureau of Labor Statistics.

Atlanta had 3.1 percent job growth between January 2011 and January 2012, compared with Houston’s 3.7 percent growth. The figures reflect non-agricultural job growth among populations of at least a million workers.

7 comments

  1. The Last Democrat in Georgia says:

    If this is indeed true and valid, then this is some much-needed very good news.

  2. ZazaPachulia says:

    Great news. And housing is about to pick up in the ATL in a big way. We’re on the right track. Mayor Reed is committing to focusing on infrastructure and is even throwing the B-word out publicly… Clearly, this momentum needs to be channelled into a new stadium for Arthur Blank.

    • The Last Democrat in Georgia says:

      The abyssmal housing market can only be helped by an improving job market.

      I’ll take good news wherever I can find it these days, though let’s not kid ourselves, the job market still has a very, very, VERY long way to go before we can feel good about it and the resulting effects that it would have on a horrific housing market (as people can’t buy homes and pay mortgages if they don’t have jobs, which seems to have been the missing link in how to improve the housing market in the bright minds of those in Washington).

  3. ZazaPachulia says:

    Harry, that is sobering, but the article describes the problem as concentrated in the distant suburbs. As an ITP guy (at least for the past year), I have seen things pick up substantially. If you have a $300k home in North Cherokee or Forsyth, relief is still a long ways off.

  4. John Konop says:

    A little food for thought on housing and the economy:

    We are seeing banks taking major write downs on loans to keep people in housing or to move old inventory. The banks have the money via the profits from cheap money from the FED, and with the last few years on their current loans performing well. Now on the bright side payments are dropping, which creates more disposable income which helps create jobs. We still have allot of inventory that needs to move from residential to commercial. But as long as gas prices remain somewhat rational we will keep seeing the recovery. Yet if we do not reinvests into America and reform our trade policy with the gola of producing more than we consume, instead of the opposite, it will only be another bubble.

  5. billdawers says:

    I’ve blogged recently about both housing and the improved employment picture for Atlanta. A couple of points:

    *Atlanta’s home prices continued plummeting as recently as January according to Case-Shiller, but the rate of decline has slowed and we’re near a bottom right now if not at it in terms of national prices. That said, I think the prospects for distant suburbs are poor. (Robert Shiller spoke about this.)

    *The latest Atlanta employment data is very encouraging — job growth at a faster rate than population growth over the past year. But if we subtract Atlanta’s metro job gains over the last year from the statewide data, then the rest of Georgia has continued losing jobs over the last 12 months.

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