South Carolina : 2018 Economic Growth
The Palmetto State job market started the year great, but the state’s labor pool isn’t progressing as fast as it was just a few years ago.
The effect is an economic picture that looks average compared to the rest of the United States.
By most standards in January’s jobs report, South Carolina’s once-soaring economy has fallen into line.
The unemployment rate bumped up to 4.3 %, almost in line with the national jobless rate of 4.1 %, S.C. Department of Employment and Workforce said.
Job growth has fallen into a slow/steady pace of 1.4 % over the year, essentially matching the rest of the United States. The Palmetto State added 3,100 jobs in January 2018.
That represents a marked slowdown from 2017. Employers around South Carolina set off a growth in hiring in 2013 that only decreased about a year ago.
Economic surveys imply that employers would still be adding workers at a faster pace if there were more workers to fill their openings. But low unemployment has put the brakes on that development.