Atlanta's economy will post moderate growth this year afterlosing ground in each of the past two years. While job creationresumed in early 2010, hiring has been cautious and employmentremains on pace to rise just 1 % this year, only slightly outpacingthe national forecast of 0.8%.

Year to date through the third quarter, local employers added16,900 positions, representing a 0.8% increase in total employment,in the corresponding nine-month period last year, 112,000 jobs wereeliminated.

Housing continues to weigh on the local economy and will remaina drag on growth through the remainder of2010. Despite an estimated5.5% increase in home sales over those 12 months, the number ofclosed transactions slipped 10% in the third quarter following theexpiration of a government homebuyer tax credit. While salesvelocity rose over the past year, the median home price still fell3% to $120,000 due to distressed sales. Looking ahead, however,housing will stabilize and job growth will ultimately return toabove average levels, as Atlanta's relatively low costs of livingand doing business will remain strong lures for expandingbusinesses in the years to come.