South Carolina’s Employment Growth Remains Positive
June 17, 2016
The number of South Carolinians working continued its climb to a new record level in May, which helped push the seasonally adjusted unemployment rate down to 5.6 percent in May from 5.8 percent in April. The number of people employed increased by 2,988 to 2,184,782.
Also driving the rate lower was a decrease in the labor force. The number of unemployed individuals dropped by 4,493 over the month to 129,802. The labor force declined in May by 1,505 to 2,314,584 people.
Since May 2015, the number of people working increased by 71,401, and unemployment fell by 7,243 individuals. The labor force has grown by 64,158 people since a year ago.
Nationally, May’s unemployment rate fell from 5 percent to 4.7 percent as many people left the labor force.
Nonfarm Employment by Industry (Seasonally Adjusted1)
Seasonally adjusted, nonfarm payrolls improved from April to May 2016 by 3,800 to a record high of 2,043,700.
Increases in South Carolina were primarily due to gains in Education and Health Services (+1,800) and Construction (+1,200). Additional growth was also seen in Government (+700); Professional and Business Services (+500); Leisure and Hospitality (+500); and Manufacturing (+300). Month-to-month declines were reported in Information (-500); Trade, Transportation, and Utilities (-300); Other Services (-300); and Financial Activities (-100).
Compared to May 2015, seasonally adjusted, nonfarm jobs were up by 47,300. Large increases occurred in Professional and Business Services (+11,500); Education and Health Services (+8,500); Construction (+6,500); Trade, Transportation, and Utilities (+6,100); Leisure and Hospitality (+4,800); Manufacturing (+4,100); Government (+3,400); Financial Activities (+2,000); and Other Services (+700). Information (-500) saw a slight dip.
Nonfarm Employment by Industry (Not Seasonally Adjusted2)
Not seasonally adjusted, nonfarm payroll employment increased from April to May 2016 (+10,400) for a total of 2,060,500. Growth was reported in Leisure and Hospitality (+4,300); Professional and Business Services (+2,700); Trade, Transportation, and Utilities (+1,900); Education and Health Services (+800); Financial Activities (+700); Construction (+500); Manufacturing (+500); and Other Services (+100). Mining and Logging remained the same, while some jobs were lost in Government (-900) and Information (-200).
Since May 2015, not seasonally adjusted, nonfarm jobs were up overall in South Carolina’s workforce (+45,400). Strong annual gains came from Professional and Business Services (+13,000); Education and Health Services (+8,800); Construction (+6,000); Trade, Transportation, and Utilities (+5,500); Government (+3,900); Manufacturing (+3,700); Leisure and Hospitality (+2,700); Financial Activities (+1,800); Other Services (+300); and Mining and Logging (+200). Information (-500) fell.
DEW Executive Director Cheryl Stanton’s Statement:
“I continue to be encouraged to see the commitment businesses are making to South Carolina. They trust that we can provide them with skilled workers as they create jobs by expanding or opening new facilities in the state. This has led to another record high employment month, meaning more people are able to provide for themselves and their families,” said Cheryl Stanton, executive director of the S.C. Department of Employment and Workforce. “We have more work to do matching people to jobs as there are more than 60,000 jobs available across the state.”
About SCDEW
The South Carolina Department of Employment and Workforce 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. SCDEW 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.
.
