Overall unemployment rate moved up to 2.9% with the biggest shift in Transportation & Utilities, which lost 2,500 roles, based on the most recently available information published in March 2023.
Total employment in the Charleston-North Charleston, SC market rose by 32 jobs in January and the unemployment rate increased compared to the prior month by 40 bps to 2.9%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Charleston-North Charleston, SC unemployment rate is 96 bps below the national rate which is a positive sign.
- Unemployment in the market is 30 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 5.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.9%. Key sectors include:
- Transportation & Utilities: 74,400; -2,500
- Government: 67,500; -200
- Business Services: 64,600; -800
- Restaurants & Hotels: 49,800; -700
- Education & Healthcare: 48,100; +600
- Manufacturing: 30,700; -100
- Construction, Mining: 21,900; +100
- Financial Services: 19,600; -100
- Other Jobs: 15,600; no change
- IT & Development: 8,800; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.