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News & Press: Industry News

South Carolina’s Employment Situation - August 2020

Tuesday, September 22, 2020   (0 Comments)
Posted by: Lenza Jolley
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I. Household Survey
Employment: The seasonally adjusted, monthly survey of households estimated the number of South Carolinians working increased to 2,264,535.

  • That is a significant increase of 18,532 people over July 2020.
  • That is also a significant decrease of 52,248 people over August 2019.

Unemployment: Unemployment estimates declined significantly to 152,936 people. 

  • That is a decrease of 59,966 people since July 2020 and a notable increase of 92,796 over August 2019.
  • The state’s seasonally adjusted unemployment rate decreased to 6.3 percent in August from July’s revised estimate of 8.7 percent.

Nationally, the unemployment rate declined from 10.2 percent in July to 8.4 percent in August. 
Labor force: The state’s estimated labor force (people working plus unemployed people looking for work) decreased significantly to 2,417,471. 

  • That is a substantial decrease of 41,434 people over July 2020.
  • That is a significant increase of 40,458 individuals over August 2019.

Nonagricultural Employment by Industry (Seasonally Adjusted) 
The Current Employment Survey of businesses in South Carolina marked an increase of 19,700 nonfarm payroll jobs over the month to a level of 2,092,200.  

  • Industries reporting gains were Government (+10,900); Professional and Business Services (+5,300); Trade, Transportation, and Utilities (+3,100); Leisure and Hospitality (+2,800); Construction (+1,100); Financial Activities (+500); and Other Services (+500).
  • Decreases were noticed in the Education and Health Services (-4,000); Information (-400); and Manufacturing (-200).

From August 2019 to August 2020, South Carolina’s economy has lost 104,700 seasonally adjusted, nonfarm jobs. 

  • Only the Other Services (+1,400) and Construction (+1,200) industries reported gains over the year.
  • Decreases were reported in Leisure and Hospitality (-55,800); Education and Health Services (-15,600); Trade, Transportation, and Utilities (-12,500); Professional and Business Services (-8,600); Government (-7,300); Manufacturing (-3,600); Financial Activities (-2,200); and Information (-1,500).

Nonagricultural Employment by Industry (Not Seasonally Adjusted) 
Not seasonally adjusted, nonfarm payroll employment increased by 16,100 from July 2020 to August 2020 for a total of 2,094,100. 

  • Industries reporting growth during this period were Government (+13,800); Professional and Business Services (+3,300); Trade, Transportation, and Utilities (+2,200); Construction
  • (+1,000); Other Services (+700); Financial Activities (+300); and Mining and Logging (+100).
  • Industries reporting declines were Leisure and Hospitality (-2,800); Education and Health Services (-1,100); Information (-800); and Manufacturing (-600).

Since August 2019, not seasonally adjusted, nonfarm jobs were down 102,700 overall in South Carolina. 

  • Only the Other Services (+2,600) and Construction (+500) industries showed annual gains.
  • Industries recording an over-the-year loss are Leisure and Hospitality (-57,000); Education and Health Services (-16,000); Trade, Transportation, and Utilities (-12,200); Professional and Business Services (-7,600); Government (-6,700); Manufacturing (-2,700); Financial Activities (-2,000); Information (-1,400); and Mining and Logging (-200).

1Household Survey (Current Population Survey): is a monthly survey of about 60,000 households conducted by the Census Bureau for the Bureau of Labor Statistics. This survey provides monthly statistics on employment, unemployment, and related subjects analyzed by the Bureau of Labor Statistics. 

2Current Employment Statistics Survey: is a monthly survey of about 40,000 employers which yields estimates of nonagricultural wage and salary employment, hours, and earnings by industry. 

3Seasonally 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. 
4Not Seasonally Adjusted: Effects of regular or seasonal patterns have not been removed from these data. 


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