EDQ Quarterly Newsletter Spring 2014 | Page 2

STATE OF ATHENS-CLARKE COUNTY ECONOMY 1,500 new jobs for 2014 Lowest unemployment in state of Georgia Athens 5.4% Unemployment for the state of Georgia is 7.4% Average weekly wage $715 Employment is expected to increase by 1.7% as projected by the Terry College of Business, University of Georgia Ranked 8th highest of top 14 metropolitan areas Top sectors for job creation Manufacturing Healthcare Biomedical High Tech Caterpillar will be adding 1,100 jobs over the next 5 years. Athens’ healthcare role will expand as a medical service center for northeast GA. UGA’s medical school campus establishment will further development of biomedical industries. UGA’s College of Engineering will enhance entrepreneurial development and help recruit high tech companies like recently expanded Ethicon, Inc. Cost of living Employment by industry 2.8 8.3% 4.7 2.3 11.9 less than the 6.2 2.7 national average 2.7% less than the state average 7.5 9.6 2.5 23.5 9.1 15 2.3 Accommodation and Food Servic es Construction Education Services Finance and Insurance Health Care and Social Assistance Manufacturing Professional Servic es Public Administration Retail Trade Support Services Transportation Wholesale Trade Other ServicesSOURCE: Georgia Department of Labor, U.S. Department of Labor, Bureau of Labor Statistics, U.S. Census, Terry College of Business University of Georgia