For the first time in 2014, the South Carolina Department of Employment and Workforce is not reporting a decrease in the state’s seasonally adjusted unemployment rate.
Although better than the national rate by a full point, the 5.3 percent recorded in South Carolina for the month of May reflected no change from April’s estimate.
While no difference was reported in the unemployment rate, the number of working statewide continued its upward trend, climbing for the tenth consecutive month to a historic high of 2,051,011 during May.
The labor force reported a modest boost from April to May with 1,236, reaching a statewide level of 2,166,183.
Since May of last year, more than 35,000 South Carolinians have found work, although the labor force has declined by nearly 21,000 people and the latest job force participation rate is a mere 57.9 percent.
Total nonfarm employment of seasonally adjusted jobs rose by 3,000 since April and more than 38,000 since May of last year. The Trade, Transportation, and Utilities sector reported the greatest monthly increase with 3,600 jobs, while the Manufacturing sector registered 1,400 additional jobs since April.
Of the ten nonfarm sectors included in the report, five reported monthly decreases in jobs with Other Services leading the way at 600 jobs lost, followed by Education and Health Services at 400 jobs lost, and Government at 200 jobs lost.
Since May of 2013, Other Services has lost 1,100 seasonally adjusted jobs, Financial Activities has lost 1,000, and Government has lost 500.
With data not seasonally adjusted, every county in the state reported an increase in its monthly unemployment rate with Greenville County rising from 4.0 percent in April to 4.3 percent in May. Spartanburg County’s unemployment rate increased from 4.7 percent to 4.9 percent, while Anderson County went from 4.3 percent to 4.6 percent during the same time.
Greenville MSA also reported a rise in unemployment through data not seasonally adjusted as the unemployment increased from April’s 4.1 percent to May’s 4.4 percent.
