Atlanta’s economic recovery 46th best in U.S.

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Atlanta’s economic recovery 46th best in U.S.
September 18, 2012
by David Markiewicz
AJC



Metro Atlanta’s economy continued to rebound in the second quarter, but its rate of recovery, like that of the nation as a whole, slowed, a new study shows.

The area ranked 46th overall among 100 metro areas measured in the Brookings MetroMonitor index of economic recovery.

Brookings analyzed four areas: percent employment change; percentage point change in unemployment rate; percent change in gross metropolitan product; and percent change in house prices.

Metro Atlanta mostly went backwards in those measurements in the second quarter of 2012 compared to the first quarter.

— Employment grew 0.2 percent in the second quarter, down from 0.7 percent growth in the first quarter.

— Output grew 0.7 percent, the same as in the first quarter.

— The unemployment rate increased slightly after declining in the first three months.

— Housing prices continued to fall in the second quarter, but by 3.7 percent, compared to 4.1 percent in the first quarter.

Brookings analyst Alec Friedhoff said after experiencing a bigger boom and decline than the U.S., Atlanta is following the general recovery pattern of the nation. U.S. employment growth slowed in the second quarter as did the rate of output growth.

Metro Atlanta ranked No. 38 in employment recovery, No. 55 in unemployment rate recovery, and No. 39 in output recovery. It tied with 86 other markets in housing recovery at No. 14, effectively last place.