Overall unemployment rate moved up to 5.0% with the biggest shift in Business Services, which lost 2,600 roles, based on the most recently available information published in March 2021.
Total employment in the Charleston-North Charleston, SC market rose by 4,412 jobs in January and the unemployment rate increased compared to the prior month by 70 bps to 5.0%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Charleston-North Charleston, SC unemployment rate is 181 bps below the national rate which is a positive sign.
- Unemployment in the market is 260 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 3.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.0%. Key sectors include:
- Transportation & Utilities: 69,000; -1,700
- Government: 65,200; -800
- Business Services: 53,700; -2,600
- Education & Healthcare: 43,300; +200
- Restaurants & Hotels: 40,100; -1,800
- Manufacturing: 27,600; -200
- Construction, Mining: 20,700; no change
- Financial Services: 15,800; -300
- Other Jobs: 13,800; no change
- IT & Development: 5,600; +100
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.