Lancaster County Unemployment Drops To 5.8%: Lowest Unemployment Rate In The County Since 2001
May 21, 2014
LANCASTER, SC – The South Carolina Department of Employment and Workforce has released unemployed figures for April, 2014 and the unemployment rate in Lancaster County continues to fall. The County’s April unemployment rate was 5.8%, down from 6.3% in March. One year ago, the Lancaster County unemployment rate stood at 9.3%.
The County’s unemployment rate peaked in June of 2009 at 18.6%. The current 5.8% unemployment rate is the lowest in Lancaster County since December of 2001 when the rate was also 5.8%.
The South Carolina state unemployment rate dropped from 5.5% in March to 5.3% in April. The current unemployment rate for the state is the lowest since June of 2001.
“Our existing companies continue to expand which is a major reason for the continued decline in our unemployment rate,” said LCEDC President Keith Tunnell. “We also have several new companies that will soon be coming online that will be hiring so I’m optimistic the unemployment in the County will continue to fall.
“While this is certainly good news, we are faced with some uncertainty when it comes to providing qualified workers for new and expanding companies,” added Tunnell. “Our state and local leadership, along with the leaders of our workforce training entities need to redouble their efforts to make certain our workforce training programs are meeting and exceeding the needs of our new and expanding industry.
“As the unemployment rate lowers even further and as the pool of available labor diminishes, we need to make sure certain programs are in place to train to the specific skillset needs of our companies. Doing so will ensure success for each of the companies we serve and will create an environment that will allow us to successfully recruit new companies to the region that provide great wages and benefits.”
In 2013, the Lancaster County Economic Development Corporation announced more than $363 million in new investment and creation of more than 2,300 jobs. Since 2006, Lancaster County ranks 5th among South Carolina’s 46 counties in job creation with more than 7,500 jobs created and is in the top 15 of South Carolina counties in new investment in office, industrial and distribution projects with more than $700 million in investment.
For more information about the LCEDC please visit: www.lancasterSCworks.com. For a press release on the most recent unemployment data visit: http://dew.sc.gov/documents/lmi-monthly-trends/April_2014.pdf .
