Employment and Workforce Executive Director William Floyd’s Statement

August 2024 Employment Situation

Columbia, S.C. – “August’s employment data show a record number of people in the Palmetto State are in the labor force and that the state’s labor force growth has been one of the strongest in the nation over the past year. While this is great news for increasing the labor force participation rate in the state, it also represents a unique challenge,” said the S.C. Department of Employment and Workforce (DEW) Executive Director William Floyd. “Some of those individuals newly added to the labor force appear to have already connected with employment as suggested by the increase in payroll levels in sectors including Construction, Health Care & Social Assistance, and Professional, Scientific, & Technical Services. However, for some, it is taking them longer to become employed, which is also reflected in the August numbers with the unemployment rate rising to an estimated 4.3%.”

“This unemployment rate is well within the range of historic norms, and there is no evidence of increased layoff activity in the state as measured by initial claims for unemployment benefits. Actual claims for unemployment benefits are comparable to or even lower so far in 2024 than levels in 2023. In addition, South Carolina had the highest population growth rate in the nation, adding more than 90,000 residents based on the most recent U.S. Census data. This has helped to boost the size of the state’s labor force,” stated Floyd. “A growing labor force and no indication of increased layoff activity, according to our agency’s economists, indicate that the current employment situation reflects that it is taking a little more time for new jobseekers to connect with the excellent employment opportunities available throughout South Carolina.”

“Having more people joining or rejoining South Carolina’s workforce is good news for our employers. There are more than 70,000 open jobs in the state right now, but absorbing this growing number of jobseekers into the workforce takes time and opportunity.  That is why every week DEW provides multiple ways for jobseekers to connect with employment, such as through in-person and virtual job fairs and hiring events. During September – also known as Workforce Development Month – DEW has more than doubled the number of opportunities for employers to connect with jobseekers. For example, in September, our agency has hosted or participated in nearly 200 events, including workshops, job fairs, and Be Pro Be Proud mobile workshop events,” said Floyd. “The keys are increasing jobseekers’ awareness of the wide variety of job opportunities and helping them connect with those opportunities, which may include additional skills training.”

“The connection is also happening through the collaborative efforts of the Coordinating Council for Workforce Development. This group of employers, educators, and state agencies has been instrumental in creating the first Unified State Plan that helps align workforce development in South Carolina,” said Floyd.

“September is just one month of the year during which we highlight the activities and resources that our agency provides every day to connect existing as well as new jobseekers with employment, whether through DEW’s virtual services, personalized job or skills matching, hiring partnerships, education and training, or data analysis of a job, an area or an industry,” concluded Floyd.