Industrial Job Growth Slows as Market Pulls Back in Savannah

The total number of jobs is growing steadily in the Savannah, Georgia, market, increasing by 1.1% over the past year, according to the Bureau of Labor Statistics. However, trade, transportation, and utilities, a sector that includes warehousing, logistics, freight trucking and port activity, was the only industry group in the region to see a decrease with a negative 3.2% change from October 2022 to October 2023. This reversal, after years of impressive rebounding post-pandemic, is the latest indicator of a larger pullback in the Savannah industrial real estate market.