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South Carolina's Employment Situation for October 2017

by Kristin Coulter | Nov 17, 2017

For Immediate Release

November 17, 2017

 

                                  South Carolina’s Employment Situation    

October 2017

Employment Level Sets Another Record

The number of individuals working across the state set a new record in October, and the seasonally adjusted unemployment rate remained unchanged at 3.9 percent for the month. Over the past five months, the state’s unemployment rate has remained in the 3.9 to 4 percent range, levels not seen in nearly 17 years.

The number of employed increased by 1,830 to 2,234,600 people, while unemployment declined by 251 to 91,091, the fewest unemployed since February 2001. The state’s labor force increased by 1,579 to  2,325,691 people.

Since October of 2016, employment has grown by 38,453, while unemployment decreased by 10,681. This has increased the labor force by 27,772.

Nationally, the unemployment rate edged down to 4.1 percent in October from 4.2 percent in September.

Nonfarm Employment by Industry (Seasonally Adjusted1)

October 2017 seasonally adjusted, nonfarm payrolls increased by 10,100 over the month to a record level of 2,102,500.

  • The state’s job count rose in Leisure and Hospitality (+4,500); Professional and Business Services (+3,500); Other Services (+2,300); Education and Health Services (+1,800); Government (+1,300); Construction (+200); and Information (+100).
  • Industries recording job losses were Manufacturing (-2,200); Trade, Transportation, and Utilities (-800); and Financial Activities (-600).

From October 2016 to October 2017, South Carolina’s economy has added 42,500 seasonally adjusted, nonfarm jobs.

  • Industries posting gains were Professional and Business Services (+11,300); Manufacturing (+8,100); Education and Health Services (+7,300); Trade, Transportation, and Utilities (+6,800); Government (+6,300); Leisure and Hospitality (+2,500); Financial Activities (+600); and Other Services (+200).
  • Declines were reported in Information (-400) and Construction (-200).

Nonfarm Employment by Industry (Not Seasonally Adjusted2)

Not seasonally adjusted, nonfarm payroll employment increased by 12,400 from September 2017 to October 2017 for a total of 2,106,800.

  • Education and Health Services (+4,600); Government (+4,400), Professional and Business Services (+3,500); Construction (+2,200); and Other Services (+1,000) added the most jobs during the month of any other major industry. Additional increases in jobs came from Information (+400) and Trade, Transportation, and Utilities (+100). Mining and Logging remained unchanged.
  • Manufacturing (-2,500); Financial Activities (-800); and Leisure and Hospitality (-500) saw declines during October.

    Since October 2016, not seasonally adjusted, nonfarm jobs were up 42,400 overall in South Carolina.

  • Industries marking strong annual gains were Professional and Business Services (+11,500); Manufacturing (+8,100); Education and Health Services (+7,400); Trade, Transportation, and Utilities (+6,600); Government (+6,300); and Leisure and Hospitality (+2,400). Financial Activities (+600) and Other Services (+200) increased slightly, while Mining and Logging held steady.
  • Decreases occurred in the Information (-400) and Construction (-300) sectors.

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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