South Carolina saw its unemployment rate decrease for the sixth consecutive month.
The South Carolina Department of Employment and Workforce announced Friday that the unemployment rate fell from 4.9 percent in September to 4.7 percent in October.
As a possible indicator of economic growth, the drop was cause by an expansion in the work force. In some months the unemployment rate can drop as a result of people leaving the workforce and not looking for another job (retirement, death, disability). However, employment in October increased by over 6,800 jobs while the number of unemployed dropped by over 3,400 job seekers. Since last year, more then 59,000 net jobs have been created in South Carolina.
The increases in the workforce pushed South Carolina to record levels of employment.
“South Carolina’s economy is growing and prospering as a record number of people are working now than at any time in our state’s history,” said Cheryl Stanton, executive director for the S.C. Department of Employment and Workforce. “The state’s unemployment rate continues to fall, but we know we still have work to do finding jobs for the more than 108,000 unemployed.”
Both Union County and Cherokee County saw the biggest drop their unemployment rates at -0.5 percentage points according to the data provided by SCDEW. The number of unemployed people in the Columbia Metropolitan area decreased by 1,224. The Charleston Metropolitan area saw a net decrease of 973 unemployed people.
The United States also saw national unemployment rate decreases. The nation’s unemployment rate decreased from 5 percent to 4.9 percent. South Carolina’s rate now rests 0.2 percent under the national level.
The business services and construction industries saw the most growth across the state, according to the SCDEW report. The report also indicates that October usually brings an increase in employment because state and local schools complete staffing.