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South Carolina’s Employment Situation
Another record number of people working, unemployment rate holding steady at 3.3 percent
The number of individuals working across the state climbed higher in October, increasing by 3,430 people to a record level of 2,231,027. Unemployment levels decreased by 521 to 76,220. The state’s labor force increased by 2,909 to a level of 2,307,247.
The state’s seasonally adjusted unemployment rate was unchanged over the month, remaining at a record low of 3.3 percent.
Since October of 2017, employment gains totaled 9,552, and the labor force declined by 12,162. The level of unemployed declined by 21,714 people.
Nationally, the unemployment rate was unchanged over the month at 3.7 percent.
Nonfarm Employment by Industry (Seasonally Adjusted1)
In October 2018 seasonally adjusted, nonfarm payrolls increased by 19,000 over the month to a record high level of 2,134,100.
The increase in employment was primarily due to changes in Leisure and Hospitality (+8,900); Professional and Business Services (+7,400); Trade Transportation, and Utilities (+3,700); Manufacturing (+1,000); and Financial Activities (+400).
The industries reporting declines during the same period were Education and Health Services (-1,400); Other Services (-700); Construction (-200); and Information (-100).
Government remained stagnant during this period.
From October 2017 to October 2018, South Carolina’s economy has added 37,800 seasonally adjusted, nonfarm jobs.
Industries with noticeable gains were Trade, Transportation, and Utilities (+13,200); Professional and Business Services (+6,700); Leisure and Hospitality (6,400); Manufacturing (+5,600); Education and Health Services (+5,400); Government (+1,700); Financial Activities (+700); and Other Services (+100).
Declines were reported in Construction (-1,700) and Information (-500).
Nonfarm Employment by Industry (Not Seasonally Adjusted2)
Not seasonally adjusted, nonfarm payroll employment increased by 25,700 from September to October 2018 for a total of 2,140,100 as businesses return to normal following Hurricane Florence.
Industries contributing to the increase are: Professional and Business Services (+10,900); Leisure and Hospitality (+5,500); Trade, Transportation, and Utilities (+4,600); Government (+3,100); Manufacturing (+1,000); Financial Activities (+700); Education and Health Services (+300); Construction (+300); and Information (+200).
Industries declining during the month were Other Services (-900). Mining and Logging remained flat.
Since October 2017, not seasonally adjusted, nonfarm jobs were up 38,000 overall in South Carolina.
Industries marking strong annual gains were Trade, Transportation, and Utilities (+13,700); Professional and Business Services (+6,900); Leisure and Hospitality (6,000); Manufacturing (+5,800); Education and Health Services (+5,500); Government (+1,600); Financial Activities (+700); and Mining and Logging (+200).
The industries reporting declines were Construction (-1,900) and Information (-500); while Other Services remained flat.
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.