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MACON, Georgia (41NBC/WMGT) – An economic forecast from the University of Georgia Terry School of Business predicts that Macon will have a slower recovery from the COVID-19 recession than the rest of Georgia.
The forecast shows that Macon lost fewer jobs during the pandemic than the rate seen statewide. However, the city will experience a slower recovery from those losses in 2021.
“The nation’s and the state’s job markets took harder hits than Macon’s job market,” said Jeff Humphreys, director of UGA’s Selig Center for Economic Growth. “But the initial three-month rebound in jobs was weaker in Macon than for the state. Specifically, the Macon area recovered only 28% of its job losses. That’s roughly half the rebound posted by the state.”
The forecast shows that the slow growth will continue through 2021, with 0.2 percent employment growth in Macon.
Humpheys says healthcare, hospitality, and construction will all add jobs. However, losses in retailing, financial services, information, and the government will offset the gains.
View complete economic forecast
Terry College of Business Dean Benjamin C. Ayers expects Georgia to recover more quickly in the coming year than the US economy. He attributes this to a 4 percent growth rate compared to the nationwide projection of 3.5 percent growth in gross domestic product.