South Carolina’s Employment Situation – May 2018

Unemployment rate declines to 4.0 percent, payroll employment gained 1,800

South Carolina’s seasonally adjusted unemployment rate decreased to 4.0 percent from 4.2 percent in April as unemployment fell by 5,431 people to a level of 92,498. The number of individuals working across the state declined slightly by 224 people in May to a level of 2,225,431. The state’s labor force fell by 5,655 to 2,317,929.

Since May of 2017, the labor force has grown by 9,202 people, and employment gains totaled 13,845. The level of unemployed declined by 4,643 people.

Nationally, the unemployment rate edged down to 3.8 percent from April’s rate of 3.9 percent.

Nonfarm Employment by Industry (Seasonally Adjusted¹)

May 2018 seasonally adjusted, nonfarm payrolls increased by 1,800 over the month to a record level of 2,122,300.

• The state’s job count rose in Trade, Transportation, and Utilities (+2,100); Education and Health Services (+1,000); Financial Activities (+700); Manufacturing (+500) and Government (+100).
• Industries recording job losses during the same month were Other Services (-1,300); Leisure and Hospitality (-1,000); Professional and Business Services (-200); and Construction (-100).
• Information remained flat.

From May 2017 to May 2018, South Carolina’s economy has added 38,400 seasonally adjusted, non-farm jobs.

• Industries with noticeable gains were Trade, Transportation, and Utilities (+10,600); Education and Health Services (+7,100); Leisure and Hospitality (+7,000); Professional and Business Services (+5,300); Manufacturing (+3,700); Government (+3,200); Other Services (+2,500); Information (+200) and Financial Activities (+100).
• Declines were reported in Construction (-1,400).

Nonfarm Employment by Industry (Not Seasonally Adjusted²)

Not seasonally adjusted, nonfarm payroll employment increased by 13,400 from April 2018 to May 2018 for a total of 2,137,100.

• Industries showing notable growth were Trade, Transportation and Utilities (+4,800); Leisure and Hospitality (+3,500); Professional and Business Services (+3,300); both Construction and Financial Activities grew (+1,000); Education and Health Services and Other Services grew by (+300).
• Mining and Logging remained the same.
• Industries declining during the month were Government (-500); Manufacturing (-200); and Information (-100).

Since May 2017, not seasonally adjusted, nonfarm jobs were up 35,000 overall in South Carolina.

• Industries marking strong annual gains were Trade, Transportation and Utilities (+10,400); Education and Health Services (+6,500); Leisure and Hospitality (+6,000); Professional and Business Services (+5,500), Other Services (+3,300); Manufacturing (+2,600); Government (+2,000); Mining and Logging gained (+100).
• Losses were seen in Construction (-800) and Financial Activities (-600); Information held steady.

 

DEW Executive Director Cheryl Stanton’s Statement: May 2018 Employment Statement

“South Carolina continues to enjoy record employment levels that help our economy thrive, but it is imperative that we also continue to look for opportunities to educate, train and prepare our workforce to meet the demand,” said Cheryl Stanton, executive director of the S.C. Department of Employment and Workforce. “The State Workforce Development Board is awarding grants for the development and use of innovative workforce, education and training practices to support jobseekers. It is this type of preparation and partnership that will help individuals find employment and succeed in the workforce and provide employers with the talent pipeline they need to compete in the global economy.”

 

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.