Title: Terry College’s Selig Center Releases 2025 Georgia Economic Outlook Report
The University of Georgia’s Selig Center for Economic Growth recently unveiled the highly anticipated 2025 Georgia Economic Outlook report. This comprehensive analysis provides valuable insights into the state’s economic landscape for the upcoming year.
Key Findings:
The report projects Georgia’s economy to grow by 2.4% in 2025, slightly slower than the 3.1% growth seen in 2024. Despite this slowdown, Georgia’s GDP is expected to outpace the national average, which is projected to grow by 1.6% in the same period.
Inflation Management:
One of the major factors driving Georgia’s economic slowdown is the Federal Reserve’s efforts to control inflation. Despite these constraints, the state’s economy is predicted to continue expanding, albeit at a slower pace than in 2024.
Job Market and Unemployment:
The report forecasts a 1% increase in the number of jobs in Georgia in 2025, with the unemployment rate expected to rise from 3.7% to 4%. However, this increase in unemployment is attributed to slowed hiring rather than layoffs, which is expected to help maintain inflation at 3% throughout the year.
Housing and Healthcare:
Healthcare and housing are poised to drive economic growth in Georgia in 2025. A growing population and an increasing number of senior residents will fuel demand for healthcare services, while homebuilders are expected to ramp up construction of single-family homes due to favorable market conditions.
Economic Development:
Despite the global economic slowdown, Georgia’s economic development prowess remains strong. The state has attracted record numbers of new jobs and industries in recent years, with thousands more expected to be created in the coming years.
Conclusion:
The 2025 Georgia Economic Outlook report provides a comprehensive overview of the state’s economic prospects for the upcoming year. With a focus on key sectors like healthcare, housing, and economic development, Georgia is well-positioned to weather the economic challenges ahead.
For more information on the 2025 Georgia Economic Outlook or to access detailed economic forecasts for specific regions in Georgia, visit terry.uga.edu/selig or attend one of the upcoming Georgia Economic Outlook luncheons. By staying informed and engaged with the latest economic trends, individuals and businesses can make informed decisions to navigate the evolving economic landscape effectively.
