South Carolina’s seasonally adjusted unemployment rate fell significantly to 5.7 percent in February from the January estimate of 6.4 percent.
The 0.7 percent drop is the largest one-month decrease ever recorded since the data series began in 1976.
The number of South Carolinians working continues to increase—rising for the seventh consecutive month, up by 8,435 in February—to a historic high of 2,039,455.
The estimated number of unemployed persons declined by 13,895, also the largest ever one-month drop, to 124,373. The labor force declined by 5,460 to 2,163,828.
Those employed increased by 28,226 since February 2013.
Nationally, the unemployment rate was 6.7 percent in February.
Dillon County’s rate was down from 10.5 percent to 8.4 percent in February.
February’s seasonally adjusted, non-farm payroll employment fell by 5,300 over the month to a level of 1,912,400. The over-the-month change is the second decrease since June 2013.
Since February 2013, seasonally adjusted non-farm jobs were up 27,500.
The not-seasonally adjusted, non-farm payroll employment in February increased by 2,100 over the month to 1,891,100.
This increase is atypical and likely due to irregular weather which caused many private businesses and school closings during the survey week.
