Savannah Chamber

Savannah Economic Trends Brochure 2021

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53 Savannah Area Chamber of Commerce 2021 Economic Trends 9 Employment & Wages In 2019, the average weekly wage in the Savannah MSA was $914, a decrease of 0.3% from 2018. Wage growth was particularly strong in Education Services (23.3%), Information (7.9%), Real Estate and Rental and Leasing (7%), Construction (6.4%), and Other Services (5.3%). In five sectors of the regional economy (manufacturing, education services, accommodation and food service, state government, and local government) average weekly wages exceeded that for the state. While weekly wages in Savannah remain $149 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 0.7% from 176,840 in 2018 to 178,008 in 2019. The Arts, Education and Recreation sector experienced notable growth (+10.2%), while Real Estate and Rental and Leasing increased by 3.9%. Other sectors that experienced modest growth include Local Government (+1.2%), Utilities (+1%) and Accommodation and Food Services (+1%). The region added 292 establishments (net) across all industries, a gain of 3% to bring the total number of establishments up to 9,940. The number of establishments in the Arts, Entertainment and Recreation sector and Real Estate and Rental and Leasing notably increased by 21.7% and 5.5%, respectively. Employment & Earnings Yearly Average, 2019 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Average Employment Number of Establishments Construction $1,047 $1,225 7,666 776 Manufacturing $1,689 $1,119 18,571 295 Wholesale Trade $1,256 $1,529 5,768 416 Retail Trade $585 $616 21,727 1,429 Transportation and Warehousing $868 $1,082 13,722 525 Utilities $1,959 $2,028 633 16 Information $913 $1,945 2,101 118 Finance and Insurance $1,522 $1,871 3,419 471 Real Estate and Rental and Leasing $853 $1,186 2,520 482 Professional, Scientific/Tech Services $1,162 $1,741 6,000 966 Education Services $1,138 $1,069 13,490 73 Health Care and Social Assistance $994 $1,030 21,347 987 Arts, Entertainment and Recreation $513 $691 2,366 196 Accommodation and Food Services $381 $375 24,460 1,148 Other Services (except Public Admin.) $658 $730 5,281 675 Government – Federal $1,431 $1,520 2,873 68 Government – State $1,200 $975 4,756 71 Government – Local $883 $844 15,911 54 ALL INDUSTRIES $914 $1,063 178,008 9,940 Source: Georgia Department of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages, 2019 Averages. Retrieved at www.dol.state.ga.us on 10/17/2020.

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