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33 Savannah Area Chamber of Commerce 2018 Economic Trends 9 Employment & Wages In 2016, the average weekly wage in the Savannah MSA was $841, an increase of 0.4% from 2015. Wage growth was particularly strong in Real Estate (+9.5%), Finance and Insurance (+6%), Information (+6%), Wholesale Trade (+3.7%), and Construction (+3.6%). In six sectors of the regional economy (manufacturing, education services, accommodation and food services, healthcare and social assistance, state government, and local government) average weekly wages exceeded that for the state. While weekly wages in Savannah remain $134 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 2.3% from 162,115 in 2015 to 165,890 in 2016. The Construction sector experienced notable employment growth (+7.8%), while Real Estate increased by 5.5%. Other fast growing sectors include Wholesale Trade (+5%), Local Government (+4%), and Retail Trade (+3.5%). The region added 277 establishments (net) across all industries, a gain of 2.8% to bring the total number of establishments to 10,328. The number of establishments in the Health Care and Social Assistance sector and Educational Services sector greatly increased by 8.3% and 8.8%, respectively. Employment & Earnings Yearly Average, 2016 Average Weekly Wages Savannah MSA Industry Savannah MSA Georgia Employment Number of Establishments Construction $927 $1,074 6,446 808 Manufacturing $1,605 $1,089 16,774 283 Wholesale Trade $1,228 $1,448 5,847 440 Retail Trade $525 $567 21,145 1,488 Transportation and Warehousing $802 $1,123 11,837 534 Utilities $1,628 $1,834 524 20 Information $757 $1,717 1,787 109 Finance and Insurance $1,250 $1,672 3,669 661 Real Estate and Rental and Leasing $772 $1,078 2,305 471 Professional, Scientific/Tech Services $1,094 $1,626 5,885 1,014 Education Services $876 $861 13,575 124 Health Care and Social Assistance $983 $947 22,721 987 Arts, Entertainment and Recreation $487 $635 2,046 143 Accommodation and Food Services $347 $339 23,493 1,088 Other Services (except Public Admin.) $620 $661 5,080 763 Government – Federal $1,357 $1,427 2,890 86 Government – State $1,021 $884 4,961 79 Government – Local $812 $769 15,033 53 ALL INDUSTRIES $841 $975 165,890 10,328 Source: Georgia Department of Labor, Workforce Statistics & Economic Research, Quarterly Census of Employment and Wages, 2016 Averages. Retrieved at www.dol.state.ga.us on 12/19/2017.