South Carolina’s Employment Situation August 2012
September 21, 2012
Unemployment Rate Essentially Unchanged
SOUTH CAROLINA -The state’s seasonally adjusted unemployment rate was essentiallyunchanged at 9.6 percent in August. The estimated number of unemployedpeople dropped by 2,021 to 204,941 with employment also decreasing (forthe fifth consecutive month), down by 10,347 to 1,926,595. Thesedeclines moved the labor force total down 12,368 to an estimated2,131,536. Noteworthy, the labor force participation rate (58.4) is the lowest since 1976 (oldest data available) and is reflective of morepeople choosing not to participate in the labor force than ever before.
Nationally, the unemployment rate decreased from 8.3 percent in July to 8.1 percent in August, primarily driven by fewer people participating in the laborforce.
Nonfarm payroll jobs (not seasonally adjusted) grew by2,400 from July to August, with the majority of the increase inGovernment (2,200), as state and local schools began augmenting stafffor the opening day of the school year. Also increasing was theEducation and Health Services sector (+1,400) as private educationalschools and ambulatory health care services rebounded in August.Financial Activities had an upturn (+1,100), and there were small gainsin Construction (+800) and Information (+800). Trade, Transportation,and Utilities payrolls increased by 300. Employment in Professional andBusiness Services, and Leisure and Hospitality fell (-2,000 and -1,600respectively). Manufacturing declined by 400 jobs. Other Service related employment declined by 200 jobs. Natural Resources and Mining Activitywas unchanged.
In the last year, nonfarm employment saw anoverall increase of 15,000 jobs. The largest gains were in Trade,Transportation and Utilities (+4,600) and Education and Health Services(+4,100), mostly in the Health Care and Social Assistance subsector). Professional and Business Services increased (+3,600 mostly inEmployment Services), as did Manufacturing (+3,300). Information gained1,600 jobs. Financial Activities employment increased (+600) and OtherService jobs (+100) also grew. Government had the largest decline sinceAugust 2011 (-2,000); other losses were seen in Natural Resources andMining, Construction, and Leisure and Hospitality (each with -300).
Online job ads in South Carolina, as reported by the Conference Board HelpWanted OnLine® (HWOL) data series, showed a decrease of about 300 adsfrom July to August. The number of jobseekers per opening remained at3.7 this past month. Online ads across the United States saw a decreaseof 108,700 in the last month. Compared to a year ago, online ads inSouth Carolina were approximately 6,600 higher in August 2012.
The Trident Workforce Area (Berkeley, Charleston, and Dorchester counties)had the most ads (14,211), with the Midlands Workforce Area (Fairfield,Lexington, and Richland counties) coming in next (13,547). Of all online ads, the Sales and Related Occupations group had the highest number ofads in the state (9,853).
“While I recognize there is more workto be done, today’s unemployment rate announcement shows me that SouthCarolina is on the road to economic recovery. We saw healthy gains inthe Private Sector as the Education and Health Services, FinancialActivities, Construction, and Information sectors all registeredincreases,” said Abraham J. Turner, executive director of the SCDepartment of Employment and Workforce.
