Analysis of South Carolina Job Openings and Labor Turnover Survey Data - February 2024
By Taylor Hendrix, Workforce Insights Analyst
National Results
The U.S. Bureau of Labor Statistics recently released their Job Openings and Labor Turnover Survey (JOLTS) results at the statewide level for February 2024. Overall, little to no changes in job openings, hires, and total separations occurred in most states for the month, continuing a trend from the prior month. The number of job openings decreased in six states and the District of Columbia, increased in four states, and was flat in the remaining 39 states; the number of hires increased in six states, decreased in three states, and was flat in DC and the remaining 41 states; and the number of total Separations decreased in three states, increased in nine states, and was flat in DC and the remaining 38 states.
For full details of other states, readers can visit here. Let’s look at the South Carolina JOLTS data results.
South Carolina Data Breakdown
Month-over-Month Comparison: January to February 2024
The state has seen more decreases than increases for Job Openings, Hires, and Separations from January to February 2024. For overall tallies month-over-month, Job Openings decreased by 7,000, Hires decreased by 16,000, and Separations decreased by 2,000. Within Separations, Quits were up by 3,000 and Layoffs/Discharges were down by 5,000.
|
|
Levels (in thousands) |
Rates[1] |
|||||
|
|
January 2024 |
February 2024 |
Change |
January 2024 |
February 2024 |
Change |
|
|
Job Openings |
169 |
162 |
-7 |
6.7 |
6.4 |
-0.3 |
|
|
Hires |
121 |
105 |
-16 |
5.2 |
4.5 |
-0.7 |
|
|
Separations |
106 |
104 |
-2 |
4.5 |
4.4 |
-0.1 |
|
|
Quits |
69 |
72 |
3 |
2.9 |
3.1 |
0.2 |
|
|
Layoffs/ Discharges |
31 |
26 |
-5 |
1.3 |
1.1 |
-0.2 |
|
Year-over-Year Comparison: February 2023 to February 2024
Job Openings and Hires saw decreases over the year while Separations saw a slight increase. Job Openings saw a 0.7 percentage point decrease, Hires saw a 0.4 percentage point decrease, and Separations were stable. Within Separations, Quits were down by 3,000 and Layoffs/Discharges were up by 7,000.
|
|
Levels (in thousands) |
Rates |
|||||
|
|
February 2023 |
February 2024 |
Change |
February 2023 |
February 2024 |
Change |
|
|
Job Openings |
175 |
162 |
-13 |
7.1 |
6.4 |
-0.7 |
|
|
Hires |
111 |
105 |
-6 |
4.9 |
4.5 |
-0.4 |
|
|
Separations |
100 |
104 |
4 |
4.4 |
4.4 |
0.0 |
|
|
Quits |
75 |
72 |
-3 |
3.3 |
3.1 |
-0.2 |
|
|
Layoffs/ Discharges |
19 |
26 |
7 |
0.8 |
1.1 |
0.3 |
|
LMI maintains its assessment from the prior month that the state’s steady JOLTS data, along with South Carolina’s low unemployment rate and record number of people working, are evidence of a strong economy. Businesses are continuing to hire and retain workers and individuals have employment choices and security.
[1] Rates are a calculation of each parameter as a percent of the state’s total employment, thereby allowing a “big picture” context for the raw changes.