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South Carolina

aerial view of South Carolina

South Carolina lost 3,700 jobs (0.2 percent) in August. The unemployment rate fell 0.1 percentage point to 3.0 percent.

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Labor Market Conditions

South Carolina lost 3,700 jobs (0.2 percent), on net, in August. The most jobs were added in construction (2,600 jobs). The most jobs were lost in government (1,900 jobs).
Since August 2022, total payroll employment increased by 46,300 jobs (2.1 percent), on net. Employment in the state was up 5.0 percent from before the pandemic (February 2020). The most jobs were added year-over-year in education and health services (12,700 jobs) and the most jobs were lost in manufacturing (2,400 jobs).
The unemployment rate in South Carolina came in at 3.0 percent, 0.1 percentage point lower than its reading in July and 0.3 percentage point below its reading from a year ago. However, the South Carolina unemployment rate was 0.1 percentage point above its pre-pandemic February 2020 reading.

Housing Market Conditions

Residential permitting activity decreased 11.3 percent in South Carolina from May to June and was down 9.4 percent from its year-ago level.
According to the Federal Housing Finance Agency, home values in South Carolina appreciated 12.7 percent from the first quarter of 2022 to the first quarter of 2023.

Snapshot Resources

Term Definitions

Payroll Employment
The number of nonfarm jobs (persons on payrolls) according to where those jobs are located.
Unemployment Rate
The number of unemployed persons (those not employed but available and searching for work) as a percent of the civilian labor force (the total number of employed plus unemployed persons).
Industry Structure
A breakdown of total nonfarm jobs by industry. Percentages sum to 100 percent.
Industry Growth
The percentage change in jobs in each industry from a year ago.
Building Permits
The number of privately owned single-family and multi-family units authorized in permit-issuing places.
House Price Index
A repeat sales index, measuring average price changes in repeat sales or refinancings on the same single-family properties.

Contact Us

Jacob Walker (804) 697-8128