The Savannah, GA job market in January 2024 displayed a continuation of trends observed in the latter half of 2023. The market remained robust, fueled by significant growth in the manufacturing sector, particularly with the ongoing expansion of the Hyundai plant. However, the report also highlighted a concerning trend of decreasing available housing inventory, which could potentially impact future job growth.
Highlights:
- Low unemployment: While no official unemployment rate data is available for January 2024 specifically for Savannah, broader reports for the Savannah metro area indicate continued low unemployment rates.
- Seller’s market in real estate: The real estate market in Savannah continued to favor sellers in January 2024, with homes receiving an average of 100% of asking price and selling within an average of 37 days [Savannah Ga January Real Estate Monthly Market Update Jaw-Dropping SHORTAGE OF INVENTORY Trend!]. This trend, while positive for sellers, could pose challenges for potential new hires relocating to the area.
What Industries and Occupations Grew:
- Manufacturing: The manufacturing sector continued to be a major driver of job growth in Savannah, with the Hyundai plant expansion creating significant opportunities.
- Logistics and transportation: Supporting the growth in manufacturing, the logistics and transportation sector also saw an increase in job openings.
- Healthcare: The healthcare sector remained steady, with consistent demand for nurses, aides, and other medical professionals.
What Industries and Occupations Shrank:
- No major contraction: No significant decline was reported in any specific industries or occupations in January 2024.
Compare to Same Month Last Year:
- Year-over-year growth: While specific data is not readily available, anecdotal evidence suggests continued job growth compared to January 2023, particularly in manufacturing and related sectors.
Compare to Previous Month:
- Month-over-month stability: The job market in Savannah appears to have remained relatively stable between December 2023 and January 2024.
Future Outlook:
The future outlook for the Savannah job market remains positive, with continued growth expected in the manufacturing sector. However, the potential impact of the limited housing inventory on attracting new hires remains a concern and should be monitored closely.
10 Growing Occupations in Savannah, GA
- Registered Nurses
- Home Health Aides and Personal Care Aides
- Customer Service Representatives
- Truck Drivers (Heavy and Tractor-Trailer)
- Software Developers, Applications
- Operations Managers
- Marketing Managers
- Medical and Health Services Managers
- Financial Managers
- General and Operations Managers
10 Companies Hiring Now in Savannah, GA
- Savannah Hilton Head International Airport
- Gulfstream Aerospace Corporation
- Memorial Health
- The Home Depot
- City of Savannah
- Kroger
- JCB North America
- Savannah College of Art and Design (SCAD)
- The Landings Club
- JLL