DEW reports drop in unemployment, but other stats show younger workforce losing ground
As of January 2014, the State of South Carolina experienced a drop in its seasonally adjusted unemployment rate for the eighth consecutive month.
A report issued by the South Carolina Department of Employment and Workforce (DEW) showed a record 2,030,996 were employed statewide the first month of the year. January’s seasonally adjusted unemployment rate of 6.4 percent was an improvement from the previous month’s 6.6 percent.
With more than 2 million employed statewide in January and an estimated 138,268 out of work, the Palmetto State saw an increase of 22,127 jobs from the same time last year.
More than 2 million of the state’s residents have been employed since November 2012, while January marks just the second month since 2001 the unemployment rate was lower than the national rate.
Statewide, nonfarm employment rose by 37,400 seasonally adjusted jobs from January 2013 to January 2014 with Leisure and Hospitality experiencing the greatest increase at 9,500 jobs.
The Upstate also experienced a rise in nonfarm employment during the same time as Greenville witnessed the largest surge in employment with 7,800 jobs.
Both Spartanburg and Anderson saw an improvement over the last year as Anderson added 3,600 jobs and Spartanburg added 2,700.
In a statement issued Monday, Gov. Nikki Haley said the news was a testament to the hardworking people of South Carolina and is the direct result of the state’s strategic efforts to expand business.
Although statewide seasonally adjusted numbers highlight a growing workforce, researchers at the Brookings Institution showed South Carolina’s younger demographic losing ground.
The Greenville-Mauldin-Easley metro area was ranked eighth among the 10 metro areas with the lowest employment rates for young adults aged 20-24, with a 54.2 employment rating.
The Brookings research also showed the Upstate was not alone in the bottom 10. The Augusta-Richmond County, GA-SC metro area ranked third worst for employment rates for young adults, with a 55.6 rating.
While the DEW report indicated more South Carolinians were working, the report also revealed that all but three counties had seen an increase in their unemployment rate not seasonally adjusted.
Of the 46 South Carolina counties, only Allendale County, Hampton County and Jasper County reported a drop in their unemployment rate not seasonally adjusted.
“More South Carolinians are out of work and giving up on trying to find jobs,” said Sen. Vincent Sheheen’s campaign manager, Andrew Whalen.
The economic reality in South Carolina is the average family income is shrinking and a staggering number of people have dropped out of the workforce entirely, he said.
