Overall unemployment rate moved down to 4.8% with the biggest shift in Restaurants & Hotels, which gained 1,700 roles, based on the most recently available information published in April 2023.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 2,882 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 4.8%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 91 bps above the national rate which is a negative 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 February versus prior month by 3.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.4% . Key sectors include:
- Restaurants & Hotels: 41,300; +1,700
- Transportation & Utilities: 39,900; -300
- Government: 24,800; +300
- Education & Healthcare: 21,600; +300
- Business Services: 18,400; +400
- Construction, Mining: 12,200; +200
- Financial Services: 10,200; no change
- Other Jobs: 6,500; no change
- Manufacturing: 5,400; no change
- IT & Development: 2,900; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.