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’sannouncement marks the state’s lowest unemployment rate in nearly fouryears, as well as the second consecutive month that the unemploymentrate has continued a steady decline,” said SC Department of Employmentand Workforce Executive Director Abraham J. Turner. “While this iscertainly welcome news, DEW will continue to work diligently withbusinesses as it remains steadfast and focused on its efforts to putSouth Carolinians back to work.”
Nationally, the unemploymentrate moved slightly higher from 7.8 percent in September to 7.9 percentin October, primarily driven by an increase in the labor force of578,000 people. Approximately 410,000 more people found work; nearly170,000 more people began searching and were unable to find work duringthe month.
Nonagricultural employment (not seasonally-adjusted)in South Carolina saw an increase of 11,100 over the month to 1,874,900. Since October 2011, the number of jobs in the state was up 34,500(about 1.9 percent). The number of jobs was up nationally byapproximately 1.5 percent from a year ago.
Employment by Industry
- For the second consecutive month, the industry gaining the most jobs wasgovernment (5,100 jobs, 1.49%), with continued increases in local andstate education services.
- Other industries with added jobs wereTrade, Transportation, and Utilities (1,900 jobs, 0.54 percent);Financial Activities (1,300 jobs, 1.33 percent); Education and HealthServices (1,200 jobs, 0.53 percent); and Construction (900 jobs, 1.2percent). These job gains were due to growth in Trade as the holidaysapproach and more demand for private educational and specialty tradecontractor services.
- Over the month, jobs were lost in Leisureand Hospitality (-400 jobs, -0.19 percent) and Information (-200, -0.74percent) due to seasonal declines for accommodation and food services in the coastal areas and less demand for publishing and distribution ofinformation. The Mining and Logging, Manufacturing, and Professional and Business Services sectors were unchanged over the month.
