A job was all many Savannahians wanted heading into the Christmas season in recent years.
Santa delivered early this year.
Employers in Chatham, Bryan and Effingham counties claimed the most workers in October since the economic downturn cut Savannah-area jobs by 20 percent in 2009. The estimated number of local jobs grew to 154,600 in October, adding 900 jobs in the month, according to Georgia Department of Labor statistics.
The October numbers are preliminary estimates and will be revised in December. The margin of error tends to be 200 jobs, plus or minus.
“This extends the momentum established in the third quarter,” said local economist Michael Toma with Armstrong Atlantic State University. “It is a good sign for the regional economy that employers are beginning to fill gaps in their workforce in response to increased demand.”
Savannah saw gains in several key sectors, led by local government, education and health services, manufacturing and construction.
The one sector that traditionally adds jobs in October, retailers staffing up on part-timers for the holiday shopping season, did not, promising an employment bump in that sector in November’s numbers.
The 100 additional manufacturing jobs marked the first increase in that sector since June, mirroring a pickup of manufacturing activity statewide. The state added 10,500 manufacturing jobs between October 2011 and October 2012, according to the labor department.
And the 300 new local jobs announced in recent weeks by K Machine and Kerry Ingredients & Flavours are not included in the October numbers.
“When employment is growing in key areas of the economy such as manufacturing and professional and business services, the local economy is definitely beginning to see real improvement,” said Benjamin McKay, a researcher with Georgia Southern’s Bureau of Business Research and Economic Development (BBRED). “However, there are still national and international factors that could derail this employment growth.”
McKay is referring to the so-called “fiscal cliff” — the expiration of tax cuts and the implementation of spending cuts scheduled for the end of the year — Congress is wrestling with as well as continued economic unrest in Europe.
Savannah's unemployment rate remained at 7.9 percent in October, unchanged from September despite the job gains. The rate is down from 8.9 percent in October 2011.
The state unemployment rate stood at 8.7 percent in October. The 36,000 new jobs added statewide was the largest September to October job increase on record.
“That job growth pushed the number of jobs in October to the highest level in any month since December of 2008,” said Mark Butler, the state’s labor commissioner.
GROWING SECTORS
Most Savannah-area employers have added employees in the last year. A look at growth in some of the top sectors:
SECTOR EMPLOYEES
Oct. 2012 Oct. 2011
Manufacturing 14,700 14,300
Trade, utilities,
transportation 33,200 32,600
Professional and
business services 18,400 17,500
Education and
health services 25,000 24,000
Leisure and
hospitality 20,800 19,800
Local government 14,800 14,600
Overall
(non-farm related) 154,600 150,100
Source: Georgia Department of Labor