Her responsibilities, she said, include loan officers, policyholders, loan managers and customer service offices in Buckhead and Alpharetta. This is a sign that the housing market in Atlanta is still strong.
However, given the major economic changes, the continued spread of coronavirus is cooling consumer spending, Wald said. “The bad news is that even if you start working again, you still have 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 their jobs as a result of the pandemic no longer receive an additional $ 600 a week from the federal government. The fiercely divided Congress has so far failed to reach a compromise on a new aid package.
Other data suggest that the economy is not fully renewed again.
At the end of July, Georgians worked 21
% fewer hours than at the end of February, while Metro Atlanta’s hours worked fell by 26%, said Andrew Vogeley, product manager at Homebase, which sells scheduling and time tracking tools.
A month ago, things looked better, he said.
In mid-June, more people worked more hours, Vogeley said. “Both Georgia and Atlanta have been down since mid-June. Atlanta has overtaken the rest of the country, but is now lagging behind. “
The U.S. Department of Labor reported about $ 1.4 million. Initial lawsuits against the unemployed, ie 12,000 more than last week.
Impressed by the unprecedented flow of claims, the Georgia Department of Labor lagged far behind. Many of the unemployed waited months for benefits to be paid. However, after a slow improvement, the state paid 92 percent. All reasonable demands, said state labor commissioner Mark Butler.
The State Department of Labor has been battling unprecedented waves of layoffs for months, and it needs to implement new federal programs. Mark Butler, Georgia’s labor commissioner, says recent proposals on unemployment benefits will make the difficult situation even more difficult.
With an unprecedented number of unemployed, there is a lack of money to pay benefits. The balance of the state unemployment insurance fund is now less than 25% of the $ 2.5 billion it had at the start of the crisis.
If this fund is depleted, Georgia will need to borrow from the U.S. Treasury in order to pay.
Many of the claims were made against those who lost their jobs in hotels, food services, health care and social support, retail, administration and manufacturing, the Department of Labor reported.
Many of those jobs were less paid.
According to the Census Bureau, more than 50% of adults who earn $ 75,000 or less a year lose income during a pandemic. For those with a salary of $ 25,000 or less, at least 60% lost income.
“This downturn is having a terrible impact on the people who are least able to cope with it,” said Mike Alexander, director of the Atlantic Regional Commission’s Center for Housing Communities.
New requirements for the unemployed in Georgia
End of the week
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: U.S. Employment and Training Administration, Georgia Department of Labor