SC Jobless Rate Unchanged at 3.1 PercentAug 22, 2023 02:41PM ● By David Dykes
South Carolina’s seasonally adjusted unemployment rate was unchanged in July at 3.1 percent, according to the S.C. Department of Employment and Workforce.
“South Carolina continues to set employment records as the number of people working in the state rises to 2,370,882, up 13,381 from June 2023. This is the ninth month in a row that the state has surpassed employment numbers from the prior month,” said S.C. Department of Employment and Workforce (DEW) Executive Director William Floyd.
Floyd added, “It is also encouraging to see the labor force participation rate tick up again from 56.7 percent in June to 56.9 percent in July. Other great news for jobseekers is that average hourly earnings are at an all-time high of $29.59. All this while the unemployment rate holds steady at a low 3.1 percent for the fourth month in a row.”
The seasonally adjusted, monthly survey of households estimated the number of South Carolinians working in July increased to 2,370,882.
That was a significant increase of 13,381 people over the June 2023 estimate and a significant increase of 70,503 people over the July 2022 estimate.
The estimate of unemployed people increased to 77,098. That was an increase of 997 people from June’s estimate and an increase of 119 from the July 2022 estimate.
Nationally, the unemployment rate decreased from June’s rate of 3.6 percent to 3.5 percent.
The state’s estimated labor force (people working plus unemployed people looking for work) increased to 2,447,980. That was a significant increase of 14,378 people over the June estimate and a significant increase of 70,622 individuals over the July 2022 estimate.
The monthly survey of businesses in South Carolina marked an estimated increase of 2,900 nonfarm payroll jobs over the month to a level of 2,306,300.
Industries reporting gains were Trade, Transportation, and Utilities (+2,200); Government (+2,200); Education and Health Services (+1,600); Manufacturing (+300); and Financial Activities (+100).
Leisure and Hospitality (-2,000); Construction (-800); Professional and Business Services (-500); Other Services (-100); and Information (-100) industries declined.
From July 2022 to July 2023, South Carolina’s economy picked up 52,900 seasonally adjusted, nonfarm jobs. Industries making strong growth were Education and Health Services (+12,800); Leisure and Hospitality (+10,600); Trade, Transportation, and Utilities (+8,600); Government (+8,400); Financial Activities (+4,700); Professional and Business Services (+2,000); Other Services (+1,700); Information (+1,600); Construction (+1,500); and Manufacturing (+1,000).
The Professional and Business Services industry marked a decline (-1,000). The Mining and Logging industry showed no change.