Overall unemployment rate moved down to 2.7% with the biggest shift in Restaurants & Hotels, which lost 3,000 roles, based on the most recently available information published in November 2022.
Total employment in the Charleston-North Charleston, SC market declined by 2,539 jobs in September and the unemployment rate decreased compared to the prior month by 10 bps to 2.7%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Charleston-North Charleston, SC unemployment rate is 62 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 8.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Government: 71,200; +1,000
- Transportation & Utilities: 68,800; -900
- Business Services: 64,300; no change
- Restaurants & Hotels: 53,400; -3,000
- Education & Healthcare: 44,900; +700
- Manufacturing: 29,700; +200
- Construction, Mining: 21,600; -300
- Financial Services: 17,200; no change
- Other Jobs: 15,700; -100
- IT & Development: 8,000; +100
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.