Overall unemployment rate moved up to 3.1% with the biggest shift in Business Services, which gained 1,500 roles, based on the most recently available information published in December 2022.
Total employment in the Charleston-North Charleston, SC market declined by 853 jobs in October and the unemployment rate increased compared to the prior month by 40 bps to 3.1%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Charleston-North Charleston, SC unemployment rate is 30 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 7.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Government: 71,500; +300
- Transportation & Utilities: 69,600; +300
- Business Services: 66,700; +1,500
- Restaurants & Hotels: 53,900; -100
- Education & Healthcare: 45,000; +500
- Manufacturing: 29,800; +100
- Construction, Mining: 21,600; -100
- Financial Services: 17,500; +300
- Other Jobs: 15,700; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.