South Carolina’s Employment Situation: November 2024

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South Carolina’s seasonally adjusted unemployment rate increased to 4.8 percent in November from 4.7 in October, according to the S.C. Department of Employment and Workforce.

The national unemployment rate increased to 4.2 percent, according to the Current Population Survey.

“South Carolina’s labor force has steadily grown each month throughout 2024. Most recently, during October and November, our labor force increased from 2,531,262 to 2,533,987, marking a strong finish to a successful year,” said DEW Executive Director William Floyd.

After seeing some employment contraction in October 2024 due to Hurricane Helene, South Carolina payrolls grew by an estimated 4,200 month over month.

And steady employment growth was recorded for a variety of industries including Professional and Business Services (+4,400), Leisure and Hospitality (+1,400), and Financial Activities (+700).

“The economy is adjusting to a growing population and the state’s labor market is absorbing new workers over time. Employers are hiring, the workforce is growing, and people are optimistic about job opportunities,” Floyd said.

“While these numbers are indicative of good trends, the state’s labor market is experiencing a unique combination of events,” he said.

“The strong growth in payrolls across almost all sectors signals that businesses are hiring and the economy is expanding. At the same time, the state has seen a high level of population and labor force growth, meaning in part more people are moving here, often seeking better job opportunities and a better quality of life,” Floyd said.

He added, “This surge in the labor force is partly why we are seeing the unemployment rate tick up to this month’s 4.8 percent, as it may take some employers and jobseekers more time to connect during this growth.”

DOE Announces $1.88 Million for Clemson University

The U.S. Department of Energy (DOE) on Dec. 20, 2024, announced $51.7 million in total funding for 19 projects, including $1.88 Million for Clemson University in Clemson, South Carolina, to advance research, development, demonstration, and deployment of technologies and materials supporting new, efficient, and affordable mobility options.

The selected projects were funded through DOE’s Vehicle Technologies Office.

Clemson’s project will develop and demonstrate an electrified power module for off-road vehicles with a spark ignition (SI) engine optimized for low greenhouse gas (GHG) fuels, an e-turbocharger for waste heat recovery, and vehicle electrification for improved energy utilization. 

The 19 projects will focus on advancing a broad range of next generation technologies for the transportation sector.

This includes electric vehicle (EV) battery technologies that use domestic, low-cost and abundant materials, improvements in off-road vehicle technologies, advancements in vehicle-to-everything (V2X) connectivity, and innovations bolstering cybersecurity in EV charging systems and infrastructure. 

"These projects represent DOE's strategic vision to drive innovation that diversifies and revolutionizes transportation with more options and lower costs for consumers, new jobs in local communities across America, and a stronger U.S. position in global market competition," said Jeff Marootian, principal deputy assistant secretary for DOE's Office of Energy Efficiency and Renewable Energy.

Big Lots No Longer Anticipates Closing Previously Announced Sale to Nexus Capital Management

Big Lots, Inc., a national retailer with several locations in South Carolina, said Dec. 19, 2024, it doesn’t anticipate completing its previously announced asset purchase agreement with Nexus Capital Management, though it continues to work toward completing an alternative going concern transaction with Nexus or another party.

The company said its goal would be to complete a sale by early January.

The company said it is preparing to commence going out of business sales at all remaining Big Lots store locations in the coming days to protect the value of its estate.

Bruce Thorn, Big Lots' president and chief executive officer, said, "We all have worked extremely hard and have taken every step to complete a going concern sale. While we remain hopeful that we can close an alternative going concern transaction, in order to protect the value of the Big Lots estate, we have made the difficult decision to begin the GOB process."

The company said it is continuing to serve customers in-store and online.

Pyxl Taps Charleston Agency Executive to Lead Expansion in South Carolina

Pyxl, an award-winning marketing, design, and engineering agency, announced the appointment of Ryan Clark as managing director of its new Charleston, South Carolina office.

“Expanding into Charleston feels like a natural extension of our work in Nashville,” said Bonnie Winter, president of Pyxl. “Both cities are known for their rich cultural heritage, vibrant arts scenes, and strong local businesses."

Winter added, "We have always believed in the power of community, and are excited to have Ryan’s expertise, vision, and passion for excellence ensure we become a part of the dynamic local fabric that makes Charleston so special.”

Clark, a graduate of the College of Charleston, will oversee all aspects of the Charleston office, including business growth, team identification and development, and operational management.

Officials said that under his leadership, the agency aims to build strong partnerships with local businesses and expand its influence across the region.

Pyxl is an independently owned, full-service agency serving clients across the United States.

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