Overall unemployment rate moved up to 5.4% with the biggest shift in Transportation & Utilities, which lost 1,300 roles, based on the most recently available information published in March 2022.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 17 jobs in January and the unemployment rate increased compared to the prior month by 100 bps to 5.4%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 97 bps above the national rate which is a negative sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 9.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.4%. Key sectors include:
- Transportation & Utilities: 40,100; -1,300
- Restaurants & Hotels: 35,900; -1,200
- Government: 23,700; -300
- Education & Healthcare: 19,700; -200
- Business Services: 16,600; -500
- Construction, Mining: 10,700; -100
- Financial Services: 9,600; -500
- Other Jobs: 6,700; no change
- Manufacturing: 4,900; no change
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.