Overall unemployment rate moved up to 5.0% with the biggest shift in Transportation & Utilities, which lost 1,400 roles, based on the most recently available information published in March 2023.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 5,517 jobs in January and the unemployment rate increased compared to the prior month by 90 bps to 5.0%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 114 bps above the national rate which is a negative sign.
- Unemployment in the market is 40 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 3.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.0%. Key sectors include:
- Transportation & Utilities: 40,500; -1,400
- Restaurants & Hotels: 39,800; -100
- Government: 24,500; -200
- Education & Healthcare: 21,300; no change
- Business Services: 18,000; -200
- Construction, Mining: 12,000; +100
- Financial Services: 10,500; -100
- 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 January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.