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South Carolina’s Labor Market Dynamism Continues

Wed, 09/21/2022

South Carolina’s Labor Market Dynamism Continues

New hires exceeded quits by 35,000 in July 2022

Columbia, S.C. – On Friday, September 16, the U.S. Bureau of Labor Statistics (BLS) released new Job Openings and Labor Turnover Survey (JOLTS) state-level figures for July 2022, which provide basic data on South Carolina’s labor force, including hire and quit statistics. These new numbers prove that the elevated churn in the labor market occurring since early 2021 is not slowing down yet, and more hires than quits statewide depict our busy and robust job market. Seasonally adjusted data are shown in the table below, with month-over-month and year-over-year comparisons included for reference.

Month

Job Openings

Hires

Quits

Count

Rate

Count

Rate

Count

Rate

July 2021

178,000

7.6%

108,000

5.0%

70,000

3.3%

June 2022 (revised)

168,000

7.0%

109,000

4.9%

84,000

3.8%

July 2022 (preliminary)

172,000

7.1%

115,000

5.1%

80,000

3.6%

“As shown in last week’s Employment Situation press release, which explained that the state’s unemployment rate fell to 3.1 percent in August, South Carolina has a very tight labor market,” said Dr. Bryan Grady, Labor Market Information (LMI) Director at the S.C. Department of Employment and Workforce (DEW). “There are more than two job openings for every unemployed South Carolinian in the state. Businesses are hiring at the fifth fastest rate among all 50 states, while workers are quitting at the fourth highest rate in search of other employment opportunities.”

“While this dynamic job market means that there are more choices for workers, we recognize that this also presents challenges for our state’s employers,” said S.C. Department of Employment and Workforce Executive Director Dan Ellzey. “Throughout Workforce Development Month, South Carolina businesses can take advantage of joining hundreds of job fairs across the state and participating in numerous professional programs our agency offers, including individualized employer plans and services offered through SC Works, that will enable them to find the talent that they need to grow and succeed.”

For more information, please contact communications@dew.sc.gov with any press inquiries or interview requests. DEW also offers a monthly publication, Trends, which provides additional LMI data.