South Carolina’s Employment Situation: November 2014

Number of Employed South Carolinians Hits Record High

Labor Force Expands for Fifth Consecutive Month

 

SOUTH CAROLINA – The number of South Carolinians working reached a record high of 2,051,511 in November, while the labor force expanded for the fifth consecutive month.

The state’s seasonally adjusted unemployment rate remained at 6.7 percent, and the labor force increased by 5,563 people to an estimated all-time record of 2,197,756.

The number of South Carolinians employed rose by 5,908 since October. The number of unemployed decreased slightly by 345 people to 146,245.

An estimated 28,659 people have found work since the same time last year, and the labor force has increased by 27,592. Over the year, the state’s unemployment rate has declined by 0.1 percentage points.

Nationally, the November unemployment rate was unchanged at 5.8 percent.

 

Nonagricultural Employment by Industry (Seasonally Adjusted)

Non-farm payrolls (seasonally adjusted) in November increased 14,200 over the month, to a level of 1,965,400.

• South Carolina’s top industry increases were in Professional and Business Services(+4,500); Leisure and Hospitality (+3,200); Government (+2,100); Trade, Transportation, and Utilities (+2,000); Manufacturing (+1,100); and Financial Activities (+1,000). Employment gains were also recorded in Information (+700) and Other Services (+500).
• Declines were reported in Education and Health Services (-700) and Construction (-200).

 

Compared to a year ago, seasonally adjusted non-farm jobs were up 48,900.

• Industries with noticeable gains were Professional and Business Services (+16,800); Leisure and Hospitality (+10,300); Manufacturing (+8,200); Trade, Transportation, and Utilities (+5,900); Education and Health Services (+4,300); and Government (+3,900). Smaller increases were reported in Construction (+600) and Information (+300).
• Over-the-year, Other Services saw a decline (-1,300).

 

Nonagricultural Employment by Industry (Not Seasonally Adjusted)

Over the month, not-seasonally adjusted, non-farm payroll employment increased by 12,700 to 1,974,500. This increase followed as the trade industry begins its seasonal hiring. The notable gains were in Trade, Transportation, and Utilities (+5,400); Government (+3,500); Manufacturing (+2,300); Professional and Business Services (+2,300); Information (+800); Financial Activities (+800); Other Services (+600); and Education and Health Services (+300). Industries reporting decreases were Leisure and Hospitality (-2,100) and Construction (-1,200).

From November 2013 to November 2014, not-seasonally adjusted non-farm jobs were up 50,600.

Industries marking strong annual gains were Professional and Business Services (+20,100); Leisure and Hospitality (+8,600); Manufacturing (+8,100); Trade, Transportation, and Utilities (+5,900); Education and Health Services (+4,400); and Government (+4,100). Information and Construction also saw slight gains (+200 each). The industries showing losses over the year were Other Services (-800); Financial Activities (-100); and Natural Resources and Mining (-100).

 

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DEW Executive Director Cheryl M. Stanton’s Statement

November 2014 Employment Situation

“In November, South Carolina employers added 14,200 additional jobs to their payrolls, breaking the all-time record set in January 2008. Furthermore, there are a record number of people working in the labor force. This type of record-setting employment growth, along with labor force expansion, points to continued economic prosperity as the year winds down, and we look forward to 2015.”