Issue link: http://savannah.uberflip.com/i/1489710
39 Savannah Area Chamber of Commerce 2023 Economic Trends 7 Demographics: Employment (By Place of Residence) More than 276,000 qualified, talented workers contribute to Savannah's seven-county combined metropolitan statistical area enabling employers with access to a diverse labor force. The area's universities, technical colleges and Workforce Investment Board programs offer Savannah-area employers and students an excellent selection of educational and training resources to meet their current and future needs. Additionally, students at universities and technical colleges may qualify to finance their education with Georgia's HOPE Scholarship and HOPE grant. Employment in the last few years in the Savannah MSA and CSA reflects a healthy, moderately growing economy. The CSA labor force employment increased by 5,678 workers (annualized, based on YTD through November). From 2021 to 2022, the Savannah MSA experienced an increase of 5,621 employees, a 3.0% gain. The Savannah MSA unemployment rate decreased from 3.9% in 2021 to an annualized rate of 2.9% (in data available through November 2022). This decrease is attributed to sustained economic growth following the covid-19 recession. Source: Department of Labor, Bureau of Labor Statistics, "Local Area Unemployment Statistics" and GSU Department of Economics. 2022 is annualized average of seasonally adjusted data through November. Source: U.S. Department of Labor, Bureau of Labor Statistics, "Local Area Unemployment Statistics" and GSU Department of Economics. 2022 is annualized average of seasonally adjusted data through November.