January 23, 2017
South Carolina’s Employment Situation
Employment Marks Another New Record in December
South Carolinians continued to find work in December as employment rose to a new record high and unemployment dropped for the eighth consecutive month.
The number of people working in December rose by 8,700 from November to a record level of 2,208,923. The number of unemployed declined by 3,204 to 98,962, the lowest level since April 2001, and the labor force rose by 5,496 people to 2,307,885.
These factors pushed South Carolina’s seasonally adjusted unemployment rate estimate down to 4.3 percent in December from 4.4 percent in November.
Since December 2015, employment has increased by 69,926, and the labor force added 44,455 people. In the last year, the number of unemployed has dropped by 25,471.
Nationally, the jobless rate increased to 4.7 percent in December from 4.6 percent in November.
Nonfarm Employment by Industry (Seasonally Adjusted1)
December’s seasonally adjusted, nonfarm payroll employment declined by 1,700 from November to a level of 2,070,100.
- Job gains were reported in Education and Health Services (+2,000); Government (+1,000); Manufacturing (+500); Financial Activities (+500); and Information (+200).
- Decreases occurred in Professional and Business Services (-1,600); Construction (-1,600); Leisure and Hospitality (-1,500); Trade, Transportation, and Utilities (-1,000); and Other Services (-100).
Compared to December 2015, seasonally adjusted, nonfarm jobs were up 34,900.
- Increases were registered in Education and Health Services (+10,600); Professional and Business Services (+9,400); Manufacturing (+4,300); Trade, Transportation, and Utilities (+4,200); Government (+3,300); Construction (+2,700); Financial Activities (+1,600); and Leisure and Hospitality (+700).
- Other Services (-1,700) and Information (-400) decreased.
Nonfarm Employment by Industry (Not Seasonally Adjusted2)
Over the month, the not seasonally adjusted, nonfarm payroll employment decreased by 5,200 to 2,076,100. Growth was reported in Trade, Transportation, and Utilities (+3,200); Education and Health Services (+1,700); Manufacturing (+300); Information (+100); and Other Services (+100). Financial Activities remained steady. Industries reporting prominent decreases were Leisure and Hospitality (-6,200); Professional and Business Services (-2,800); Construction (-1,300); Government (-200); and Mining and Logging (-100).
Since December 2015, not seasonally adjusted, nonfarm jobs were up 37,600. Industries marking annual gains were Education and Health Services (+10,900); Professional and Business Services (+9,600); Trade, Transportation, and Utilities (+5,700); Manufacturing (+3,800); Government (+2,900); Construction (+2,500); Leisure and Hospitality (+2,300); Financial Activities (+1,400); and Mining and Logging (+200). Other Services (-1,100) and Information (-600) noted over-the-year losses.
1Seasonally Adjusted: Seasonal adjustment removes the effects of events that follow a more or less regular pattern each year (i.e. tourist-related hiring and school closings in the summer). These adjustments make it easier to observe the cyclical and other nonseasonal movements in data over time.
2Not Seasonally Adjusted: Effects of regular or seasonal patterns have not been removed from these data.