Savannah Chamber

29 8 Savannah Area Chamber of Commerce 2024 Economic Trends Demographics: Employment (By Place of Residence) More than 278,000 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 1.4%, or 3,795 workers (annualized, based on YTD through October). From 2022 to 2023, the Savannah MSA experienced an increase of 2,377 employees, a 1.2% gain. The Savannah MSA unemployment rate increased to 3.0% (in data available through October 2023) from 2.9% in 2022. This very modest increase is partly attributed to partial normalizing of labor force activity in the post pandemic period. Nonetheless, the Savannah area labor market remains tight with high employment and re-absorption of newly unemployed workers. Source: Department of Labor, Bureau of Labor Statistics, "Local Area Unemployment Statistics" and GSU Department of Economics. 2023 is annualized average of seasonally adjusted data through October. Source: U.S. Department of Labor, Bureau of Labor Statistics, "Local Area Unemployment Statistics" and GSU Department of Economics. 2023 is annualized average of seasonally adjusted data through October.

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