Overall unemployment rate moved up to 2.8% with the biggest shift in Restaurants & Hotels, which gained 1,200 roles, based on the most recently available information published in June 2022.
Total employment in the Charleston-North Charleston, SC market declined by 290 jobs in May and the unemployment rate increased compared to the prior month by 50 bps to 2.8%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Charleston-North Charleston, SC unemployment rate is 58 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 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 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 0.9% . Key sectors include:
- Government: 70,800; +200
- Transportation & Utilities: 68,100; +200
- Business Services: 61,200; +600
- Restaurants & Hotels: 53,400; +1,200
- Education & Healthcare: 43,400; +400
- Manufacturing: 29,000; +400
- Construction, Mining: 21,400; -100
- Financial Services: 16,900; +200
- Other Jobs: 15,400; +200
- IT & Development: 7,600; +100
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.