Overall unemployment rate moved up to 3.8% with the biggest shift in Restaurants & Hotels, which gained 3,300 roles, based on the most recently available information published in June 2022.
Total employment in the Myrtle Beach-Conway-North Myrtle Beach, SC-NC market rose by 2,762 jobs in May and the unemployment rate increased compared to the prior month by 40 bps to 3.8%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Myrtle Beach-Conway-North Myrtle Beach, SC-NC unemployment rate is 42 bps above the national rate which is a negative sign.
- Unemployment in the market is 120 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 8.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.9% . Key sectors include:
- Restaurants & Hotels: 46,200; +3,300
- Transportation & Utilities: 41,100; -500
- Government: 24,100; -100
- Education & Healthcare: 20,100; +300
- Business Services: 17,700; +200
- Construction, Mining: 11,100; +100
- Financial Services: 10,400; no change
- Other Jobs: 6,900; +100
- Manufacturing: 5,000; +100
- IT & Development: 2,400; no change
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.