Unemployment in South Carolina is now at a record high—rising sharply in November to 12.percent from a revised October rate of 12.0 percent. Sam McClary, Labor Market Analyst for the South Carolina Employment Security Commission says that the spike comes largely from an increase in the labor force.
“We went through a few months where a lot of unemployed workers quit looking for work and it had the effect of bringing down the labor force. Now, they’re beginning to slip back in to the labor force and starting their job search again and this has the impact of pushing the rate up,” says McClary.
He says the rate will probably continue to rise in the next few months and the behaviors of industry and consumers are changing so that demand is just not there.
“We need something to stimulate consumer demand and consumer spending,” says the ESC statistician. “I just don’t know what that is going to be right now. People are not buying automobiles or big ticket items. Manufacturing continues to go offshore. We’re in a very different time than we were in the past.”
He says the recession is behaving differently and lasting longer than recessions we have had in the past in the U.S.
Estimates produced by the Bureau of Labor Statistics reported the number of unemployed increased 5,896 to 266,330. The national unemployment rate was 10.0 percent in November, down from 10.2 percent in October.
The state’s job count decreased by 1,500 in November, with most of the declines from Construction (-1,700), and Leisure and Hospitality (-6,600).
However, gains in manufacturing were reported for the first time since May of 2008.