South Carolina’s Employment Situation – October 2018

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.

“South Carolina is enjoying the benefit of a strong economy coupled with simultaneous record high employment levels and a continued record low unemployment rate. It is during these thriving times that our agency must work harder than ever to connect with individuals who have had challenges along the path to employment,” said Cheryl Stanton, executive director of the S.C. Department of Employment and Workforce.

“The dynamic partnerships with industry, education, local workforce areas, nonprofits and more continue to develop a statewide pipeline of workers ready to fill jobs that support the state’s businesses, creating sustainable careers.”

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.

 

About DEW

The S.C. Department of Employment and Workforce (DEW) is putting South Carolinians to work. The agency invests in building a pipeline of quality workers, matches workers with jobs, and is a bridge for individuals who find themselves out of work for no fault of their own. This promotes financial stability and economic prosperity for employers, individuals and communities. DEW is dedicated to advancing South Carolina through services that meet the needs of the state’s businesses, jobseekers and those looking to advance their careers.