January 25, 2022
Summary
South Carolina added 2,600 net payroll jobs and the unemployment rate fell by 0.2 percentage point to 3.5 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, South Carolina added 44,900 payroll jobs and the unemployment rate fell by 2.1 percentage points from 5.6 percent.
In December, South Carolina’s private sector added 2,700 net private payroll jobs and over the past twelve months it added 41,400 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 4,377 on net in December, and over the past year employment rose by 97,237.
South Carolina’s labor force participation rate fell to 57 percent in December from 57.1 percent. Since last year, the labor force participation rate rose by 0.4 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
South Carolina Payroll Employment
South Carolina added 2,600 net payroll jobs, or 0.1 percent, on a seasonally adjusted basis during December. In the prior month, South Carolina added 5,700 jobs. Over the past twelve months, South Carolina added 44,900 payroll jobs, or 2.1 percent. South Carolina nonfarm payroll employment had increased in 10 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. South Carolina is tied for 46th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, South Carolina’s private-sector added 2,700 jobs, or approximately 0.2 percent. The private-sector in South Carolina added 5,600 jobs in the prior month. Over the past twelve months, private-sector payrolls in South Carolina added 41,400, or 2.4 percent. South Carolina private-sector payroll employment has increased in 10 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. South Carolina ranks 48th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Trade, Transportation, and Utilities (2,700) and Manufacturing (1,500). The poorest performing sectors during the month were Construction (-700) and Professional and Business Services (-2,100).
The best performing sectors during the last twelve months were Trade, Transportation, and Utilities (15,900) and Leisure and Hospitality (9,000). The poorest performing sectors during the last twelve months were Professional and Business Services (-200) and Financial Activities (-2,100).
South Carolina Labor Force Statistics
Labor Force Participation
The labor force participation rate in South Carolina fell to 57 percent in December from 57.1 percent in the prior month. At a labor force participation rate of 57 percent, South Carolina is tied for 45th in the nation. The labor force participation rate in South Carolina rose by 0.4 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in South Carolina was 60.2 percent last occurring in January 2012. The series high for the labor force participation rate in South Carolina last occurred in June 1993 when the labor force participation rate hit 66.9 percent. The 10-year low for the labor force participation rate was 56.6 percent , last occurring in December 2020. This also represents the series low for the labor force participation rate in South Carolina.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the South Carolina civilian noninstitutionalized population 16 years and older counted as employed, in December remained unchanged. At 55 percent, South Carolina is tied for 46th among state employment-to-population ratios in the nation. The employment-to-population ratio in South Carolina rose by 1.5 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in South Carolina was 56.7 percent last occurring in July 2019. The series high for the employment-to-population ratio in South Carolina last occurred in November 1998 when the employment-to-population ratio hit 63.6 percent. The 10-year low for the employment-to-population ratio was 50.7 percent in April 2020. This also represents the series low for the employment-to-population ratio in South Carolina.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.