Michael E. Kanell

Business and Economics Reporter

Economics writer Michael E. Kanell covers business, jobs and housing for the AJC.

Latest from Michael E. Kanell

Georgia adds jobs, but storm tempers growth
 Georgia added a modest number of jobs in October, but it was the 11th of the past 12 with growth, according to figures released by the state’s Department of Labor Thursday. Payrolls expanded by just 2,400 during October, far below the 10,900 average for the previous five Octobers — a month when retailers are typically gearing...

Posted: 14 hours ago

Georgia added a modest number of jobs in October, but it was the 11th of the past 12 with growth, according to figures released by the state’s Department of Labor Thursday. Payrolls expanded by just 2,400 during October, far below the 10,900 average for the previous five Octobers — a month when retailers are typically gearing...
GSU: Metro Atlanta’s economy will continue to grow in 2019
 Both the recent roller-coaster of the stock market and the added costs of tariffs are headwinds for Georgia’s economic growth, but neither will flip the economy off-track, according to a high-profile forecast from Georgia State University. Job growth will slow in the coming year, but remain solid, predicted Rajeev Dhawan...

Posted: a day ago

Both the recent roller-coaster of the stock market and the added costs of tariffs are headwinds for Georgia’s economic growth, but neither will flip the economy off-track, according to a high-profile forecast from Georgia State University. Job growth will slow in the coming year, but remain solid, predicted Rajeev Dhawan...
Amazon headquarters decision: It’s not Atlanta
 In the end, Georgia didn’t convince Amazon that Atlanta is the best location for its second headquarters. Or even the second best. The Seattle-based tech giant made it official Tuesday, announcing that it will split its proposed $5 billion HQ2 project into two operations. One will be in New York’s Long Island City in Queens and...

Posted: 2 days ago

In the end, Georgia didn’t convince Amazon that Atlanta is the best location for its second headquarters. Or even the second best. The Seattle-based tech giant made it official Tuesday, announcing that it will split its proposed $5 billion HQ2 project into two operations. One will be in New York’s Long Island City in Queens and...
Justice Department sues UBS over financial crisis
 U.S. Justice Department officials in Atlanta on Thursday announced a long-awaited, high-stakes lawsuit against a Swiss banking behemoth for its actions leading up to the financial crisis a decade ago. UBS and its subsidiaries had backed more than $41 billion in mortgage loans as part of a series of deals that became “catastrophic failures...

Posted: 6 days ago

U.S. Justice Department officials in Atlanta on Thursday announced a long-awaited, high-stakes lawsuit against a Swiss banking behemoth for its actions leading up to the financial crisis a decade ago. UBS and its subsidiaries had backed more than $41 billion in mortgage loans as part of a series of deals that became “catastrophic failures...
Georgia construction sector may run short on workers
 The construction sector in Georgia has done so well it seems to be out-pacing the economy’s ability to fuel its growth. Even while there’s murmuring about a possible recession, industry leaders say they expect the economy to keep expanding, but they have reached the point where more construction spending is testing their...

Posted: 8 days ago

The construction sector in Georgia has done so well it seems to be out-pacing the economy’s ability to fuel its growth. Even while there’s murmuring about a possible recession, industry leaders say they expect the economy to keep expanding, but they have reached the point where more construction spending is testing their...
Economy on Election Day: important, but not No. 1 concern
 After a bitter recession, metro Atlanta has added 367,000 jobs in the past five years, including 60,300 in the 12 months. Historically, that good news would have been an ace in the hole for incumbents as voters head to the polls on Tuesday. Elections often turn on the economy. But this one, not so much, political observers say. The most...

Posted: 10 days ago

After a bitter recession, metro Atlanta has added 367,000 jobs in the past five years, including 60,300 in the 12 months. Historically, that good news would have been an ace in the hole for incumbents as voters head to the polls on Tuesday. Elections often turn on the economy. But this one, not so much, political observers say. The most...
As stock market swings, Atlanta’s money managers hold on
 For Atlanta’s money managers, the roller-coaster stock market the past two months is a test of their resolve to look beyond the daily fluctuations while constantly assessing the meaning and cause of the current ride. There’s a lot at stake – for the economy, as well as the clients whose wealth is in their hands. Of course...

Posted: 10 days ago

For Atlanta’s money managers, the roller-coaster stock market the past two months is a test of their resolve to look beyond the daily fluctuations while constantly assessing the meaning and cause of the current ride. There’s a lot at stake – for the economy, as well as the clients whose wealth is in their hands. Of course...
Election day on a work day; democracy dampens productivity
 Voting doesn’t cost money, but it does take time away from making money. Voters can be late to work because they were at the polls. Or perhaps they leave work early to get to the polls. And many workers will be sneaking peaks at online reports, reading commentary or talking with colleagues about the election. The upshot will be that...

Posted: 13 days ago

Voting doesn’t cost money, but it does take time away from making money. Voters can be late to work because they were at the polls. Or perhaps they leave work early to get to the polls. And many workers will be sneaking peaks at online reports, reading commentary or talking with colleagues about the election. The upshot will be that...
Atlanta home sales trend with U.S.; buyers more cautious
 Atlanta’s average home prices are up 5.8 percent since last year, according to a high-profile report on the nation’s housing market issued Tuesday. Atlanta’s price increases slowed slightly at summer’s end, leaving the region ranking 10th for yearly increases among the nation’s metro areas, according to the ...

Posted: 16 days ago

Atlanta’s average home prices are up 5.8 percent since last year, according to a high-profile report on the nation’s housing market issued Tuesday. Atlanta’s price increases slowed slightly at summer’s end, leaving the region ranking 10th for yearly increases among the nation’s metro areas, according to the ...
Atlanta jobs and wages rise — along with hopes for holiday hiring
 Defying the local trend of a September hiring lull, metro Atlanta’s economy added jobs last month, according to a report Thursday from the Georgia Department of Labor. Despite worries about a trade war with China or the ups and downs of the stock market, companies are adding employees and many blue-collar workers are starting to see...

Posted: 21 days ago

Defying the local trend of a September hiring lull, metro Atlanta’s economy added jobs last month, according to a report Thursday from the Georgia Department of Labor. Despite worries about a trade war with China or the ups and downs of the stock market, companies are adding employees and many blue-collar workers are starting to see...
Techstars Atlanta effort to spur growth
 Tech accounted last year for nearly 300,000 jobs with average pay of $85,681 a year and a total payroll of more than $25 billion, according to the Technology Association of Georgia. The region is a leader in some tech specialties, like fintech, the software behind credit card transactions and credit processing. But much of...

Posted: 28 days ago

Tech accounted last year for nearly 300,000 jobs with average pay of $85,681 a year and a total payroll of more than $25 billion, according to the Technology Association of Georgia. The region is a leader in some tech specialties, like fintech, the software behind credit card transactions and credit processing. But much of...