Overall unemployment rate moved up to 7.4% with the biggest shift in Restaurants & Hotels, which lost 1,900 roles, based on the most recently available information published in March 2021.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 3,240 jobs in January and the unemployment rate increased compared to the prior month by 100 bps to 7.4%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 59 bps above the national rate which is a negative 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 11.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.1%. Key sectors include:
- Transportation & Utilities: 37,000; -1,100
- Restaurants & Hotels: 32,300; -1,900
- Government: 22,500; -300
- Education & Healthcare: 19,200; +100
- Business Services: 15,300; +100
- Construction, Mining: 10,300; -300
- Financial Services: 8,800; no change
- Other Jobs: 6,100; no change
- Manufacturing: 4,500; no change
- IT & Development: 2,200; no change
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.