South Carolina’s Employment Situation October 2012
November 20, 2012
SOUTH CAROLINA, November 20, 2012 – The state’s seasonally adjustedunemployment rate dropped significantly in October to 8.6 percent fromthe September estimate of 9.1 percent. The number of unemployed peopledecreased over the month by 10,814 to 183,024. While the number ofemployed people climbed by 14,705 to 1,954,801, the labor force saw amodest increase of 3,891 to 2,137,825. Since October 2011, theunemployment rate has fallen 1.5 percentage points.
“Today’s announcement marks the state’s lowest unemployment rate innearly four years, as well as the second consecutive month that theunemployment rate has continued a steady decline,” said SC Department of Employment and Workforce Executive Director Abraham J. Turner. “Whilethis is certainly welcome news, DEW will continue to work diligentlywith businesses as it remains steadfast and focused on its efforts toput South Carolinians back to work.”
Nationally, the unemployment rate moved slightly higher from 7.8 percent in September to 7.9 percent in October, primarily driven by an increase in the labor force of 578,000 people. Approximately 410,000 more people found work; nearly 170,000 more people began searching and were unableto find work during the month.
Nonagricultural employment (not seasonally-adjusted) in South Carolinasaw an increase of 11,100 over the month to 1,874,900. Since October2011, the number of jobs in the state was up 34,500 (about 1.9 percent). The number of jobs was up nationally by approximately 1.5 percent from a year ago.
Employment by Industry
- For the second consecutive month, the industry gaining the most jobs was government (5,100 jobs, 1.49%), with continued increases in localand state education services.
- Other industries with added jobs were Trade, Transportation, andUtilities (1,900 jobs, 0.54 percent); Financial Activities (1,300 jobs,1.33 percent); Education and Health Services (1,200 jobs, 0.53 percent); and Construction (900 jobs, 1.2 percent). These job gains were due togrowth in Trade as the holidays approach and more demand for privateeducational and specialty trade contractor services.
- Over the month, jobs were lost in Leisure and Hospitality (-400jobs, -0.19 percent) and Information (-200, -0.74 percent) due toseasonal declines for accommodation and food services in the coastalareas and less demand for publishing and distribution of information.The Mining and Logging, Manufacturing, and Professional and BusinessServices sectors were unchanged over the month.
