South Carolina’s unemployment trended to its lowest point ever in six years. According to the South Carolina Department of Employment and Workforce, in March the state’s seasonally adjusted unemployment rate fdecreased to 5.5 percent from February’s rate of 5.7 percent.
The last time the Palmetto State’s rate was at this level was in March 2008.
From February to March 2014, the number of unemployed persons declined by 5,077, to a level of 119,058. The estimated number of employed persons in March was 2,046,002, up 6,560 since February. This is the eighth consecutive monthly increase. From March 2013 to March 2014, an estimated 32,555 people have found work.
The labor force increased slightly in March, up by 1,483 to 2,165,060. Since March 2013 the labor force has declined by nearly 23,982 people, in part because of an increasing number of retirees in South Carolina.
Nationally, the unemployment rate was unchanged at 6.7 percent in March.
South Carolina compared to national – through Feb. 2014