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Data Trends Issues

South Carolina Data Trends

Labor Force, Population, and Generational Change in South Carolina

In this latest publication, we’re taking a closer look at the second of the “Big 3” monthly employment situation measures: the Labor Force Participation Rate. If the Unemployment Rate is the number elected officials and politicians rely on as the benchmark of a healthy economy, then the Labor Force Participation Rate is the number their critics rely on to counter the value of those low Unemployment Rates. To skip right to the punchline, both measures are vital to a full understanding of the current state of the workforce and both are also driven, in no small part, by much larger population characteristics well beyond political control. Leaving aside, momentarily, any discussion of those population characteristics and their impact on standard measures of the health of the economy, let’s focus first on the basics of the Labor Force Participation Rate. The Labor Force Participation Rate, in simple terms, is the percentage of the population that is either working or actively seeking employment. To calculate this rate on a monthly basis, it is necessary to estimate 3 unique counts: the number of people who are employed, the number of people who are unemployed, and the current civilian, non-institutional population over the age of 16. 

Read more in the electronic publication above. 

Recent Issues of Trends

September 2020 (PDF)

August 2020 (PDF)

July 2020 (PDF)

June 2020 (PDF)

May 2020 (PDF)

April 2020 (PDF)

March 2020 (PDF)

January/February 2020 (PDF)

December 2019 (PDF)

November 2019 (PDF)

October 2019 (PDF)