Employment Sets New Record, Unemployment Rate Continues Rapid Descent
South Carolina’s seasonally adjusted unemployment rate fell to 5.7 percent from 6.0 percent, recording its lowest level since February 2008. This is the fourth consecutive month in which the rate has declined.
The unemployment rate has dropped 1.1 percent since May. This is the largest four-month drop since the unemployment rate dropped 1.7 percent from June to September 1983. Employment hit a new high with 2,121,326 people working, rising 7,092 from August to September. The number of unemployed individuals decreased by 6,607 to 128,508, the lowest level since April 2008. The labor force showed little change, increasing slightly by 485 to 2,249,834.
From September 2014 to September 2015, the number of people working rose by 62,548, while the level of unemployed decreased by 15,848 people. The labor force grew by nearly 46,700 individuals in the last year.
Nationally, the unemployment rate was unchanged at 5.1 percent.
Read the full employment report here.