Unemployment Rate Increases for Second Consecutive Month
The state’s seasonally adjusted unemployment rate increased to 6.4 percent in August from a revised 5.8 percent in July. The estimated number of unemployed increased by 13,396 people to 138,108 in August.
The number of working South Carolinians fell by 7,649 people to 2,035,751. From July to August, the labor force grew by 5,747 people to a level of 2,173,859.
About 20,168 people have found work since August 2013, and the labor force decreased by nearly 6,282 people in that same time period. Over the year, the state’s unemployment rate declined by 1.1
Nationally, the unemployment rate decreased to 6.1 percent in August from 6.2 percent in July, showing little change over the past three months.
Nonagricultural Employment by Industry (Seasonally Adjusted)
August’s seasonally adjusted, non-farm payrolls increased by 5,000 over the month to 1,932,100.
Industries with the highest increases were Education and Health Services (+2,800); Leisure and Hospitality (+1,200); and Manufacturing (+1,000). Job gains were reported in Professional and Business Services (+800); Other Services (+400); and Government (+200).
Decreases occurred in Information (-700); Trade, Transportation, and Utilities (-400); and Construction (-200).
Since August 2013, seasonally adjusted non-farm jobs were up 34,100.
Employment improved in Leisure and Hospitality (+8,100); Professional and Business Services (+7,800); Manufacturing (+7,400); Education and Health Services (+6,600); Government (+2,700); Trade, Transportation, and Utilities (+2,600); and, Construction (+1,400).
Financial Activities (-1,100); Information (-900); and Other Services (-500) reported declines.
Nonagricultural Employment by Industry (Not Seasonally Adjusted)
Payroll employment (not-seasonally adjusted, non-farm) in August increased 2,300 from July to 1,929,300. Historically, employment grows during the month of August as schools gear up for the next semester. This is illustrated by the over-the-month growth in Education and Health Services (+3,200) and Government (+1,700). Other upswings were seen in Manufacturing (+1,400) and Professional and Business Services (+500). Industries reporting the most prominent decreases were Leisure and Hospitality (-2,300); Trade, Transportation, and Utilities (-1,200); and, Information (-700).
Since August 2013, not-seasonally adjusted non-farm jobs were up 32,600 overall with strong gains from Manufacturing (+7,700); Professional and Business Services (+7,400); Leisure and Hospitality (+6,900); Education and Health Services (+6,400); Trade, Transportation, and Utilities (+3,100); Government (+2,900); and Construction (+1,500). Financial Activities (-2,000) had a substantial loss, and there were two smaller drops: Other Services (-700) and Information (-600).