The state’s seasonally adjusted unemployment rate fell for the fifth consecutive month, declining from 5.7 percent in September to 5.6 percent while the number of people working in South Carolina continued to surge.
This unemployment rate is the lowest level since June 2007.
Dillon County’s rate increased to 8.3 percent.
In October, the number of people employed increased by 7,886 to a record level of 2,128,894 while the number of unemployed individuals decreased by 2,395 to 126,577 and the labor force reflected a modest increase of 5,491 to 2,255,471.
Since October 2014, the unemployment total has decreased by 19,155 people, and the labor force has grown by 46,977. In addition, employment rose by 66,132 over the year, the largest 12-month gain since July 1983-84.
Nationally, the unemployment rate dropped from 5.1 percent to 5.0 percent.
Nonagricultural Employment by Industry (Seasonally Adjusted)
The October seasonally adjusted, nonfarm payrolls increased from September by 6,600 to reach a record level of 2,022,400.
* The most noticeable upswings occurred in Professional and Business Services (+6,700) and Education and Health Services (+2,700).
* Additional gains were seen in Manufacturing (+600); Trade, Transportation, and Utilities (+500); and Government (+100).
* Financial Activities (-1,400); Leisure and Hospitality (-1,100); Other Services (-800); Construction (-600); and Information (-100) reported decreases.
Compared to a year ago, seasonally adjusted, nonfarm jobs were up 57,100.
* Growth was registered in Professional and Business Services (+16,200); Trade, Transportation, and Utilities (+11,300); Leisure and Hospitality (+11,100); Education and Health Services (+10,700); Construction (+6,200); Government (+3,800); and Other Services (+1,200).
* Drops were recorded in Financial Activities (-2,400) and Manufacturing (-800).
Nonagricultural Employment by Industry (Not Seasonally Adjusted)
From September to October, not seasonally adjusted, nonfarm payroll employment increased 13,300 to a level of 2,030,100. Professional and Business Services rose by a 6,900 jobs, as businesses prepare staffing for seasonal hiring. Additional upswings occurred in Education and Health Services (+4,100); Government (+3,700); Trade, Transportation, and Utilities (+2,800); Manufacturing (+1,000); Construction (+700); and Information (+100). The most significant loss was reported in Leisure and Hospitality (-4,200) with lesser declines occurring in Financial Activities (-1,100) and Other Services (-700).
From October 2014 to October 2015, not seasonally adjusted, nonfarm jobs were up 57,400.
Industries marking strong annual gains were Professional and Business Services (+16,400); Trade, Transportation, and Utilities (+11,300); Leisure and Hospitality (+11,100); Education and Health Services (+10,800); Construction (+6,300); Government (+3,700); and Other Services (+1,200). Financial Activities (-2,400); Manufacturing (-800); and Natural Resources and Mining (-200) fell off over the year.
“I continue to be encouraged by the fact that more and more people are working than any time in South Carolina history. For the last five months, including this last month in which we experienced a historic and devastating flood, we are seeing our unemployment rate drop to levels not seen in years,” said Cheryl Stanton, executive director of the Department of Employment and Workforce.
“And, equally encouraging is the ongoing success of the projects and programs across the state that bridge job seekers with the more than 65,000 jobs available in South Carolina,” said DEW Director Cheryl Stanton.
