Overall unemployment rate moved down to 4.7% with the biggest shift in Restaurants & Hotels, which gained 2,600 roles, based on the most recently available information published in June 2021.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 3,040 jobs in May and the unemployment rate decreased compared to the prior month by 70 bps to 4.7%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 80 bps below the national rate which is a positive sign.
- Unemployment in the market is 1,230 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 4.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.4% . Key sectors include:
- Restaurants & Hotels: 42,000; +2,600
- Transportation & Utilities: 37,900; -100
- Government: 22,700; +100
- Education & Healthcare: 19,500; no change
- Business Services: 15,900; -400
- Construction, Mining: 11,600; +100
- Financial Services: 8,800; -100
- Other Jobs: 6,300; +100
- Manufacturing: 4,700; +100
- IT & Development: 2,200; no change
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.