Overall unemployment rate moved down to 2.8% with the biggest shift in Business Services, which gained 1,600 roles, based on the most recently available information published in August 2022.
Total employment in the Charleston-North Charleston, SC market declined by 1,666 jobs in July and the unemployment rate decreased compared to the prior month by 20 bps to 2.8%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Charleston-North Charleston, SC unemployment rate is 98 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 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 0.4% . Key sectors include:
- Government: 69,800; -800
- Transportation & Utilities: 69,300; -100
- Business Services: 63,600; +1,600
- Restaurants & Hotels: 55,400; +200
- Education & Healthcare: 43,500; no change
- Manufacturing: 29,100; +200
- Construction, Mining: 22,000; +100
- Financial Services: 17,000; +100
- Other Jobs: 15,800; +200
- IT & Development: 8,000; +200
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.