Employment Situation for August 2016

For Immediate Release

Sept. 20, 2016

 

South Carolina’s Employment Situation August 2016

 Unemployment Rate Falls to 5.1 Percent,

Fourth Consecutive Monthly Drop

South Carolina’s seasonally adjusted unemployment rate dropped for the fourth consecutive month to 5.1 percent in August from 5.2 percent in July.

Unemployment fell by 3,856 people to 116,998. Employment also decreased by 2,009 to 2,180,876. This resulted in a decline in the labor force of 5,865 to 2,297,874. Since August 2015, employment has increased by 54,553 along with an increase of 45,086 for the labor force. Unemployment fell by 9,467.

Nationally, the unemployment rate remained the same from July to August at 4.9 percent.

Nonfarm Employment by Industry (Seasonally Adjusted1)

Seasonally adjusted, nonfarm payroll employment in August increased by 5,700 over the month to a record high level of 2,060,800.

 Industries experiencing employment increases were Education and Health Services (+2,600); Trade, Transportation, and Utilities (+1,400); Other Services (+900); Manufacturing (+400); Information (+300); Construction (+200); Financial Activities (+200); and Professional and Business Services (+100). Government employment remained the same, and Leisure and Hospitality (-400) noted a decline.

Compared to August 2015, seasonally adjusted, nonfarm employment increased 50,500 with upswings in Professional and Business Services (+13,100); Education and Health Services (+11,200); Government (+8,800); Construction (+5,400); Trade, Transportation, and Utilities (+4,500); Financial Activities (+3,700); Leisure and Hospitality (+2,100); Manufacturing (+2,000); and Other Services (+300). Information (-700) saw a dip in payroll.

Nonfarm Employment by Industry (Not Seasonally Adjusted2)

From July to August, not seasonally adjusted, nonfarm payroll employment tallied an increase of 1,600 to a level of 2,056,600. Historically, employment experiences growth during August as schools gear up for the fall semester. The rise was due to increases in Education and Health Services (+3,300); Government (+2,000); Other Services (+900); and Financial Activities (+100). Losses occurred in Leisure and Hospitality (-2,500); Professional and Business Services (-1,300); and Construction (-900). There was no movement in Mining and Logging; Manufacturing; Trade, Transportation, and Utilities; and Information during the month of August.

Year over year, not seasonally adjusted, nonfarm jobs improved (+43,700) with growth in Professional and Business Services (+12,600); Education and Health Services (+9,400); Government (+5,300); Construction (+5,200); Trade, Transportation, and Utilities (+3,900); Financial Activities (+2,800); Leisure and Hospitality (+2,600); Manufacturing (+2,200); Mining and Logging (+100); and Other Services (+100). Information (-500) fell slightly.

 

1Seasonally Adjusted: Seasonal adjustment removes the effects of events that follow a more or less regular pattern each year (i.e. tourist-related hiring and school closings in the summer). These adjustments make it easier to observe the cyclical and other nonseasonal movements in data over time.

 

2Not Seasonally Adjusted: Effects of regular or seasonal patterns have not been removed from these data.

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