Savannah Chamber

31 10 Savannah Area Chamber of Commerce 2024 Economic Trends Employment & Wages In 2022, the average weekly wage in the Savannah MSA was $1,069, an increase of 6.8% from 2021. Private sector wage growth was particularly strong in Information (34.8%), Accommodation and Food Services (10.9%), Transportation and Warehousing (10.7%), and Wholesale Trade (9.5%). In four sectors of the regional economy (manufacturing, accommodation, state government, and local government) average weekly wages exceeded the state-wide average. While weekly wages in Savannah remain $196 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 rebound from the pandemic recession, total employment in the Savannah MSA increased 4.3% from 180,155 in 2021 to 187,807 in 2022. The sectors that experienced notable employment growth include the Construction sector (+11.2%), Education Services (+11.2%), Utilities (+9.3%), Other Services (+9.9%) and Accommodation and Food Services (+8.2%). The sectors experiencing the largest declines in employment include Federal Government (-2.3%) and Finance Insurance (-2.1%). The region added 2,002 establishments (net) across all industries, a gain of 17.7% raising the total number of establishments to 13,311. Notable increases in the number of establishments occurred in Transportation and Warehousing (+98, +16.3%), Manufacturing (+41, +14.1%), Arts, Entertainment, and Recreation (+26, +13.8%), Professional, Scientific/Tech Services (+109, +10.3%) and Accommodations and Food Services (+125, 9.7%) Employment & Earnings Yearly Average, 2022 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Average Employment Number of Establishments Construction $1,233 $1,410 8,443 951 Manufacturing $1,748 $1,279 19,057 332 Wholesale Trade $1,527 $1,791 6,274 491 Retail Trade $749 $756 22,548 1,671 Transportation and Warehousing $1,054 $1,143 17,451 700 Utilities $1,889 $2,225 648 20 Information $1,072 $2,458 1,596 135 Finance and Insurance $1,983 $2,152 3,196 544 Real Estate and Rental and Leasing $1,087 $1,481 2,787 628 Professional, Scientific/Tech Services $1,363 $2,017 6,257 1,170 Education Services $1,203 $1,227 3,719 98 Health Care and Social Assistance $1,155 $1,216 21,656 1,191 Arts, Entertainment and Recreation $579 $854 2,438 214 Accommodation and Food Services $496 $476 24,123 1,410 Other Services (except Public Admin.) $824 $902 5,654 810 Government – Federal $1,553 $1,666 2,798 66 Government – State $1,521 $1,149 4,437 74 Government – Local $1,063 $1,006 15,593 54 ALL INDUSTRIES $1,069 $1,265 187,807 13,311 Source: Georgia Department of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages, 2022 Averages. Retrieved at www.dol.state.ga.us on 11/21/2023.

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