South Carolina’s Employment Situation August 2019

Number of South Carolinians Working Increases Significantly

Nonfarm Payroll Employment Continues Upward Trend

 

DEW Executive Director Dan Ellzey’s Statement:

“South Carolina’s numbers continue to be strong as the unemployment rate drops and the number of individuals working consistently reaches new records. While this is great news for the state, it creates challenges for employers in filling open jobs. Fortunately, employers in this tight labor market have incentives to hire individuals who are considered at-risk or have had challenges with employment,” said Dan Ellzey, executive director of the S.C. Department of Employment and Workforce. “The Federal Bonding Program provided through our agency, offers businesses insurance in the form of $5,000-$25,000 fidelity bond coverage to protect employers. It is no cost to the business or the worker and requires no paperwork to become insured. This program gives those employers an incentive that protects their assets when hiring at-risk job applicants.”

 

I. Household Survey¹

Employment: The monthly survey of households across the state estimated the number of South Carolinians working moved significantly higher, establishing a new record of 2,304,835.

• That is an increase of 7,277 people over July 2019.
• That is also an increase of 57,776 people over August 2018.

Unemployment: Unemployment estimates decreased to 77,256 people.

• That is a decrease of 4,514 people since July 2019 and an increase of 1,819 over August 2018.
• With that decrease, the state’s seasonally adjusted unemployment rate moved lower over the month, from 3.4 percent in July to 3.2 percent in August.
• Nationally, the unemployment rate was unchanged at 3.7 percent.

Labor force: The state’s estimated labor force (people working plus unemployed people looking for work) increased to 2,382,091.

• That increase continues an upward trend for the eight consecutive months.
• That is an increase of 2,763 people since July 2019.
• That is an increase of 59,595 individuals over August 2018.

II. Current EmploymentSurvey²

 

Nonagricultural Employment by Industry (Seasonally Adjusted³)

The Current Employment Survey of businesses in South Carolina marked an increase of 2,400 nonfarm payroll jobs over the month to a record high level of 2,180,300.

• Industries reporting employment increases were Construction (+1,800); Government (+1,600); Education and Health (+1,500); and Professional and Business Services (+800).
• Decreases were noticed in the Manufacturing (-1,700); Trade, Transportation, and Utilities          (-900); Financial Activities (-700) and Other Services (-100) industries. Information and Leisure and Hospitality showed no movement.

From August 2018 to August 2019, South Carolina’s economy has added 31,900 seasonally adjusted, nonfarm jobs.

• Industries with strong growth were Leisure and Hospitality (+9,000); Manufacturing (+6,900); Trade, Transportation, and Utilities (+6,700); Education and Health Services (+5,000); Government (+4,400); Other Services (+1,100); and Construction (+300).
• Decreases were seen in Information (-1,300); Professional and Business Services (-200); and Financial Activities (-100).

Nonagricultural Employment by Industry (Not Seasonally Adjusted²)

Not seasonally adjusted, nonfarm payroll employment decreased by 1,600 from July 2019 to August 2019 for a total of 2,179,200. Although, July’s overall total employment declined, gains were reported in some industries. The most prominent gain was in the Government (+5,200) industry.

• Industries that saw an increase were Education and Health Services (+4,000); Professional and Business Services (+2,300); Construction (+800); Other Services (+500); and Information (+100). Mining and Logging remained flat.
• Industries reporting declines were Leisure and Hospitality (-7,600); Manufacturing (-3,300); Trade, Transportation, and Utilities (-2,200); and Financial Activities (-1,400).

Since August 2018, not seasonally adjusted nonfarm jobs were up 30,300 overall in South Carolina.

• Industries marking strong annual gains were Leisure and Hospitality (+8,400); Manufacturing (+6,300); Trade, Transportation, and Utilities (+6,200); Government (+5,600); Education and Health Services (+4,500); Other Services (+800); Construction (+600); and Mining and Logging (+100).
• Industries reporting an over the year decline were Professional and Business Services (-1,200) and Information (-1,000). Financial Activities has remained steady.