Savannah Chamber

37 Savannah Area Chamber of Commerce 2022 Economic Trends 9 Employment & Wages In 2020, the average weekly wage in the Savannah MSA was $950, an increase of 3.9% from 2019. Wage growth was particularly strong in Finance and Insurance (17.8%), Information (12.3%), Other Services (10.6%), Retail Trade (9.6%), Real Estate and Rental and Leasing (7.4%) and Arts, Entertainment and Recreation (7.4%). In four sectors of the regional economy (manufacturing, education services, accommodation, state government, and local government) average weekly wages exceeded that for the state. While weekly wages in Savannah remain $182 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. Reflecting the pandemic economy, total employment in the Savannah MSA decreased 3.4% from 178,008 in 2019 to 171,883 in 2020. Full year data for 2021 are not available as of this printing, but are expected to return to pre-pandemic levels. The Transportation and Warehousing sector experienced notable growth (+9.3%). The sectors that experienced the largest declines in employment include: Information (-19.3%), Arts, Entertainment and Recreation (-12.9%), Utilities (-8.5%), Other Services (-8.4%) and Manufacturing (-7.4%) The region added 832 establishments (net) across all industries, a gain of 8.4% to bring the total number of establishments up to 10,772. The number of establishments in Education Services and Transportation/Warehousing notably increased by 12.3% and 9.5%, respectively. Employment & Earnings Yearly Average, 2020 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Average Employment Number of Establishments Construction $1,079 $1,269 7,718 847 Manufacturing $1,660 $1,157 17,204 290 Wholesale Trade $1,294 $1,580 5,686 447 Retail Trade $641 $663 21,113 1,517 Transportation and Warehousing $913 $1,086 14,992 575 Utilities $1,772 $2,111 579 15 Information $1,025 $2,095 1,695 126 Finance and Insurance $1,793 $2,005 3,185 511 Real Estate and Rental and Leasing $916 $1,251 2,406 523 Professional, Scientific/Tech Services $1,218 $1,824 6,041 1,039 Education Services $1,198 $1,144 3,294 82 Health Care and Social Assistance $1,051 $1,091 21,015 1,077 Arts, Entertainment and Recreation $551 $797 2,061 178 Accommodation and Food Services $379 $379 24,460 1,148 Other Services (except Public Admin.) $728 $792 4,836 732 Government – Federal $1,413 $1,549 3,012 65 Government – State $1,229 $1,017 4,546 73 Government – Local $919 $894 15,813 55 ALL INDUSTRIES $950 $1,132 171,883 10,772 Source: Georgia Department of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages, 2020 Averages. Retrieved at www.dol.state.ga.us on 12/27/2021.

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