Overall unemployment rate moved up to 3.2% with the biggest shift in Business Services, which gained 4,200 roles, based on the most recently available information published in April 2023.
Total employment in the Charleston-North Charleston, SC market rose by 7,850 jobs in February and the unemployment rate increased compared to the prior month by 30 bps to 3.2%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Charleston-North Charleston, SC unemployment rate is 69 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 4.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.8% . Key sectors include:
- Transportation & Utilities: 73,700; -100
- Business Services: 69,000; +4,200
- Government: 67,900; +400
- Restaurants & Hotels: 50,300; +1,700
- Education & Healthcare: 48,100; +500
- Manufacturing: 31,000; +400
- Construction, Mining: 21,900; +200
- Financial Services: 19,600; no change
- Other Jobs: 15,500; no change
- IT & Development: 8,800; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.