The Metro Atlanta Chamber’s chief economist told Perimeter business leaders to tell their kids not to get remote jobs because they will be laid off first.
“If they don’t have a connection to that business when there’s the downturn, who gets laid off first: the person he only knows as a two-dimensional square on a Zoom board or the person that actually shows up for work and can be mentored and establish a relationship?” Jerry Parrish asked during the Sandy Springs Perimeter Chamber’s recent luncheon.
Parrish said companies might find ordering a full return to the office for their remote workers as an efficient way to reduce headcount. If the workers refuse, the company won’t need to notify the Georgia Labor Department in advance.
The Metropolitan Atlanta-Sandy Springs MSA labor market seems to be stabilizing, Parrish said. Businesses are finding it easier to hire lower-wage workers, such as retail clerks. Many residents moved farther out of the city for lower-priced homes at lower interest rates. A move to a new job with a home having a higher interest rate will not interest them.
Atlanta’s job growth rate is 7.2 percent and Georgia’s reached 6.6 percent. Comparing those to the U.S. average of 4.5 percent shows Georgia has grown more jobs than the average state, Parrish said. The area is growing as people still want to live here, as seen by the traffic everywhere you drive, Parrish said.
The Metro Atlanta Chamber’s chief economist warned of the problem with the U.S. government’s growing debt. The federal debt has reached $34.8 trillion. That costs $2 billion a day in net interest. That debt gives the federal government fewer options if a downturn happens, Parrish said.
Asked to comment on how the presidential election would affect the economy, Parrish said every election year businesses hold off on investing until they know who is going to win.
