South Carolina’s Employment Situation March 2015

Labor Force Continues To Rise, Employment Sets Another Record

The number of South Carolinians working in March increased 5,838 and reached another historic high with an estimated 2,096,110 people. March marks the 64^th consecutive month of employment growth in the Palmetto State.

The state’s seasonally-adjusted unemployment rate rose modestly to 6.7 percent in March from 6.6 percent in February, as the labor force expanded for the 14th consecutive month. The labor force numbered 2,245,987 people, an increase of 7,536 over the month. During the first quarter of 2015, the number of people entering the labor force marked an all-time high. The vast majority of the people are finding work. The estimated number of unemployed persons was 149,877, showing a slight increase since February of 1,698.

Nationally, the unemployment rate was unchanged at 5.5 percent.

 

Nonagricultural Employment by Industry (Seasonally Adjusted¹)

Seasonally adjusted, non-farm payrolls in March decreased by 3,400 over the month to a level of 1,984,800.

• South Carolina’s most prominent increases occurred in Construction (+1,100) with additional gains in Education and Health Services (+700) and Government (+100).
• Industries reporting declines were Leisure and Hospitality (-2,400); Trade, Transportation, and Utilities (-1,500); Professional and Business Services (-700); Financial Activities (-500); Manufacturing (-200); and Other Services (-200).

Compared to March 2014, seasonally adjusted, non-farm jobs were up 49,300.

• The industries with large increases over the year were Trade, Transportation, and Utilities (+9,300); Professional and Business Services (+8,900); Leisure and Hospitality (+6,700); Education and Health Services (+6,600); Construction (+5,900); Government (+5,800); Manufacturing (+4,500); and Other Services (+1,200).
• Modest gains were made in Information (+200) and Financial Activities (+100).

 

Nonagricultural Employment by Industry (Not Seasonally Adjusted²)

The not-seasonally adjusted, non-farm payroll employment in March increased 15,500 over the month to 1,979,900. Growth was reported in Leisure and Hospitality (+6,900); Professional and Business Services (+1,900); Trade, Transportation, and Utilities (+1,600); Government (+1,500); Education and Health Services (+1,400); and Construction (+1,300). A loss occurred in Financial Activities (-100).

From March 2014 to March 2015, not-seasonally adjusted, non-farm jobs were up 51,100. Strong annual gains came from Trade, Transportation, and Utilities (+10,700); Leisure and Hospitality (+8,200); Professional and Business Services (+8,100); Education and Health Services (+7,100); Government (+6,200); Construction (+5,000); and Manufacturing (+3,900).

 

¹Seasonally Adjusted: Seasonal adjustment removes the effects of events that follow a more or less regular pattern each year (i.e. tourist-related hiring and school closings in the summer). These adjustments make it easier to observe the cyclical and other nonseasonal movements in data over time.

²Not Seasonally Adjusted: Effects of regular or seasonal patterns have not been removed from these data.

 

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DEW Executive Director Cheryl M. Stanton’s Statement

March 2015 Employment Situation

“I’m excited about today’s jobs numbers because South Carolina’s economy continues to expand. The state has the most South Carolinians working ever, 64 consecutive months of employment growth and 14 consecutive months of labor force expansion.”

 

 

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