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54 Savannah Area Chamber of Commerce 2019 Economic Trends 9 Employment & Wages In 2017, the average weekly wage in the Savannah MSA was $866, an increase of 3.0% from 2016. Wage growth was particularly strong in Utilities (+22.1%), Finance and Insurance (+8%), Professional, Scientific/Tech Services (+7.9%), Construction (+7.1%), and Transportation and Warehousing (+7.1%). In six sectors of the regional economy (manufacturing, utilities, education services, accommodation and food services, state government, and local government) average weekly wages exceeded that for the state. While weekly wages in Savannah remain $137 below the state average, the purchasing power of those wages is enhanced due to the relatively low cost of living and housing in the region. This, combined with Savannah's high quality of life, implies that workers and employers continue to receive a high return on value for area wages. Total employment in the Savannah MSA increased 2.2 % from 165,890 in 2016 to 169,517 in 2017. The Information sector experienced notable employment growth (+16.9%), while Utilities increased by 9.4%. Other fast growing sectors include Wholesale Trade (+9.3%) and Construction (+8.2%). The region removed 886 establishments (net) across all industries, a loss of 8.6% to bring the total number of establishments down to 9,442. The number of establishments in the Finance and Insurance sector and Federal Government sectors greatly decreased by 28.4% and 23.3%, respectively. Employment & Earnings Yearly Average, 2017 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Average Employment Number of Establishments Construction $993 $1,119 6,972 730 Manufacturing $1,648 $1,113 16,887 268 Wholesale Trade $1,223 $1,474 6,390 427 Retail Trade $537 $579 21,568 1,416 Transportation and Warehousing $859 $1,129 12,112 510 Utilities $1,988 $1,852 573 18 Information $800 $1,823 2,089 108 Finance and Insurance $1,350 $1,741 3,414 473 Real Estate and Rental and Leasing $786 $1,106 2,347 457 Professional, Scientific/Tech Services $1,180 $1,633 5,947 932 Education Services $898 $884 14,128 118 Health Care and Social Assistance $945 $968 22,530 950 Arts, Entertainment and Recreation $495 $696 2,144 148 Accommodation and Food Services $356 $350 23,764 1,111 Other Services (except Public Admin.) $637 $682 5,156 667 Government – Federal $1,386 $1,464 2,866 66 Government – State $1,061 $920 4,954 73 Government – Local $842 $795 15,170 54 ALL INDUSTRIES $866 $1,003 169,517 9,442 Source: Georgia Department of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages, 2017 Averages. Retrieved at www.dol.state.ga.us on 10/24/2018.