Overall unemployment rate moved up to 4.4% with the biggest shift in Restaurants & Hotels, which lost 2,200 roles, based on the most recently available information published in February 2022.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market declined by 1,502 jobs in December and the unemployment rate increased compared to the prior month by 40 bps to 4.4%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 71 bps above the national rate which is a negative sign.
- Unemployment in the market is 330 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 9.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Transportation & Utilities: 40,700; +1,300
- Restaurants & Hotels: 37,200; -2,200
- Government: 22,600; no change
- Education & Healthcare: 20,000; +200
- Business Services: 15,500; no change
- Construction, Mining: 11,200; -200
- Financial Services: 8,900; no change
- Other Jobs: 6,400; no change
- Manufacturing: 4,700; -100
- IT & Development: 2,200; no change
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.