South Carolina’s Employment Situation October 2013

Lowest State Unemployment Rate Since Sept. 2008
 
InOctober, the state’s seasonally adjusted unemployment rate declinedsignificantly to 7.5 percent from 7.9 percent in September. This is thelowest the rate has been since September 2008 and the closest to thenational rate since September 2002. The number of unemployed persons was 162,613, falling approximately 7,457, while those employed increased3,465 to a level of 1,994,349. The labor force fell 3,992 to 2,156,962in October.
 
Since October 2012, the unemployment rate hasdecreased by 1.3 percent and includes a decline of 26,940 in the numberof unemployed. Of that drop, 17,779 people found work. Almost 9,200people left the labor force during the year.
 
The national unemployment rate for October was estimated at 7.3 percent, up slightly from September’s rate of 7.2 percent.
 
Nonagricultural Employment by Industry (Seasonally Adjusted1)
 
With an over-the-month increase of 3,600, October’s seasonallyadjusted, non-farm payrolls reached a year-high level of 1,901,300. This is the fifth consecutive employment increase since May 2013.

• South Carolina’s largest gains were in Manufacturing (+2,600);Construction (+1,800); and Educational and Health Services (+1,800);with smaller growth in Financial Activities (+400) and Information(+300).
• Declines were reported in Other Services (-1,100);Professional and Business Services (-900); and Leisure and Hospitality(-900); largely related to declines in the tourism industry. Smallerdrops were seen in Government (-300) and Trade, Transportation andUtilities (-100).

 
Since October of 2012, seasonally adjusted non-farm jobs were up 33,600.

• Industries with notable gains were Trade, Transportation, andUtilities (+6,400); Professional and Business Services (+6,300);Construction (+4,900); Leisure and Hospitality (+4,800); Manufacturingand Government both attained (+3,800); Education and Health Services(+3,000) and Financial Activities (+2,700).
• Declines were seen in Other Services (-1,800) and Information (-200).

 
 
 
Nonagricultural Employment by Industry (Not Seasonally Adjusted2)
 
Not-seasonally adjusted employment in October increased from September by 9,600 to 1,907,100. Gains were seen in Government (+5,500);Construction (+2,400); Manufacturing (+2,300); Education and HealthServices (+1,800); and Trade, Transportation, and Utilities (+1,500).Leisure and Hospitality
(-3,500) experienced its usualend-of-summer decline, and there were smaller drops in Professional andBusiness Services (-1,300) and Other Services (-100).