Augusta's Economy Hits Record Employment and GDP Growth

Augusta's metropolitan statistical area posted record employment of 238,000 jobs in October, the highest total since records began in the late 1990s.

That figure arrives after six straight months of gains even as the region absorbed the effects of Hurricane Helene. Economists tracking the Augusta-Richmond County MSA note that the job count has climbed steadily while the unemployment rate fell to a preliminary 3.9 percent in the latest Bureau of Labor Statistics release, down from 4.6 percent in the prior period.

Employment and population trends

Regional employment rose by 3,720 jobs over the past five years. Projections from the same data set point to an additional 11,881 positions over the next five years. Population followed a similar path, adding 25,619 residents in the past five years with a further 26,336 expected in the coming five years. These totals come directly from the Augusta Economic Development Authority's economic overview and align with Bureau of Labor Statistics county-level reporting.

Government remains the largest employer with 56,772 positions. Health care follows at 34,751 jobs, retail trade at 27,931 and manufacturing at 24,903. The four sectors together account for the bulk of measured employment in the MSA.

GDP and income figures

Nominal GDP for the region stands at approximately $37 billion. Real GDP has expanded at roughly 1.5 percent annually, a pace slightly below the national average of 2.2 percent. Median household income reached $62,900 in 2023, which sits $12,200 below the national median of $75,100.

New manufacturing and data-center projects in Columbia and Richmond counties are listed as generating an estimated $3 billion in investment and 4,000 new positions. Those developments sit alongside the existing industry mix and the measured job gains already recorded.

The combination of rising employment, falling unemployment and continued population growth points to further expansion above the long-term trend. Local officials and analysts will watch the next Bureau of Labor Statistics releases for confirmation of whether the current trajectory holds through the remainder of the year.