South Carolina Economic Overview/Analysis - Oct/Nov 2006
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1. SOUTH CAROLINA ECONOMIC ANALYSIS: Using LMI for Planning and
Evaluation 2006 Workforce Development Conference October 29
November 1, 2006 Mike Daniels Research and Planning Administrator
S.C. Employment Security Commission
2. Essential LMI Data for the Business Professional
Labor Force
Industry Employment
Employment by County, MSA & WIA
Occupational Wages
Population Trends
Special studies:
Regional Economic Profiles
Worker Commuting Patterns
3. Source: Bureau of Labor Statistics US Unemployment Rate by
Educational Attainment September 2006 Employment status of the
civilian population 25 years and older by educational attainment
Education is the key to labor market success The unemployment rate
for persons with a bachelors degree and higher was 2.0% in
September.
4. Source: Bureau of Labor Statistics Full-time workers age 25
years and older Education is the key to labor market success
Persons with a bachelors degree and higher earn $1,047 per week
compared to $420 per week for persons with less than a high school
diploma. US Median Weekly Earnings By Educational Attainment 3 rd
Quarter 2006
5. Source: Bureau of Labor Statistics Median weekly earnings of
the nations 108.2 million full-time wage and salary workers were
$675 in the third quarter of 2006. Women had median earnings of
$599 per week, or 80% of the $749 median for men. US Median Weekly
Earnings By Gender 3 rd Quarter 2006
6. Source: Bureau of Labor Statistics US Median Weekly Earnings
By Race and Gender 3 rd Quarter 2006 Median earnings for Asians
were $798 per week, followed by Whites ($692), Blacks ($555), and
Hispanics ($485). By gender, Asian men had the highest median
weekly earnings at $857, while Hispanic women had the lowest at
$440.
7. Average weekly earnings increased 0.2% over the month to
$569.19 in September. The highest industry average was Information
at $867.89, followed by Construction ($798.11), and Manufacturing
($698.83). US Average Weekly Earnings By Industry September 2006
Source: Bureau of Labor Statistics
8. Understanding Your Local Economy
9.
As population increases, more workers are needed to provide
services that individuals and businesses depend upon.
The services industry is expected to provide half of all new
jobs in South Carolina through the remainder of this decade. By
that time, nearly 40% of the states total employment will be in
services.
Health services and educational services, in particular will be
critically impacted by population growth and changes.
South Carolina Economy Facts
10. SC Labor Force (based on Household Survey)
11. In September, the number of persons in the labor force rose
by 6,138 (0.3%) to a record 2.125 million. Since September 2005,
the number of persons in the labor force has increased by 32,485
(1.6%). SC Labor Force September 2004 September 2006 Source:
SCESC/LMI
12. SC Employment September 2004 September 2006 In September,
the number of persons employed increased by 8,682 (0.4%) to a
record 1.99 million. Since September 2005, the number of persons
employed grew by 44,253 (2.3%). Source: SCESC/LMI
13. SC Unemployment September 2004 September 2006 In September,
the number of persons unemployed fell by 2,544 to 135,691. Since
September 2005, the number of persons unemployed fell by 11,768
(8.0%). Source: SCESC/LMI
14. Source: SCESC/LMI SC unemployment rate fell 0.1 percentage
point to 6.4% in September. This months rate is 0.6 percentage
point lower than September 2005. SC Unemployment Rate
15. South Carolina Unemployment Rates by County September 2006
State Unemployment Rate = 6.4% Greenwood 8.2 Oconee 7.9 Anderson
7.1 Pickens 6.5 Greenville 5.3 Spartanburg 7.1 York 5.5 Laurens 7.1
McCormick 10.4 Edgefield 8.1 Aiken 6.6 Lexington 4.8 Saluda 6.6
Barnwell 10.2 Orangeburg 9.7 Calhoun 7.2 Allendale 11.5 Hampton 8.0
Jasper 5.0 Beaufort 4.3 Colleton 6.7 Bamberg 9.5 Charleston 5.4
Dorchester 5.2 Berkeley 5.5 Georgetown 6.3 Williamsburg 8.7
Clarendon 8.6 Sumter 8.0 Florence 7.6 Dillon 8.7 Lee 8.7 Darlington
7.8 Marlboro 10.1 Chesterfield 9.1 Richland 6.1 Kershaw 6.3
Fairfield 8.6 Lancaster 9.3 Union 9.9 Chester 10.3 Horry 4.5
Cherokee 7.3 Marion 10.9 Newberry 6.4 Abbeville 8.3 Source:
SCESC/LMI Less Than 5.0% Compared to August 2006, the unemployment
rate fell in 40 of the 46 counties. Greater Than 10.0% 5.0% to
10.0%
16. Unemployment Rates Multi-County Metropolitan Areas
September 2006 Source: SCESC/LMI The unemployment rate fell in all
four Metropolitan Areas.
17. Unemployment Rates by Workforce Investment Area September
2006 Midlands 5.6 Upper Savannah 7.6 Lower Savannah 8.0 Lowcountry
5.1 Pendleton District 7.1 Greenville 5.3 Trident 5.4
Santee/Lynches 7.6 Waccamaw 5.2 Pee Dee 8.4 Catawba 6.9 Upstate 7.4
Source: SCESC/LMI
18. Unemployment Rates by Workforce Investment Area September
2006 Lowcountry 5.1 Waccamaw 5.2 Source: SCESC/LMI The lowest WIA
unemployment rate were recorded in
19. SC Nonfarm Employment
20. Employment by Industry
By major industry sectors
Monthly, by state and metropolitan areas
Annually, detailed by county as well
Trends important - help to determine declining and growing
areas, both by industry and by geography
21. SC Nonfarm Employment Source: SCESC/LMI Nonfarm employment
rose by 6,900 jobs to 1,914,800 in September boosted by Local
Government Education (+11,700).
22. Greenwood Oconee Anderson Pickens Greenville Spartanburg
York Laurens McCormick Edgefield Aiken Lexington Saluda Barnwell
Orangeburg Calhoun Allendale Hampton Jasper Beaufort Colleton
Bamberg Charleston Dorchester Berkeley Georgetown Williamsburg
Clarendon Sumter Florence Dillon Lee Darlington Marlboro
Chesterfield Richland Kershaw Fairfield Lancaster Union Chester
Horry Cherokee Marion Newberry Abbeville Charleston -1,100 Jobs
(0.4%) Columbia +2,300 Jobs (0.6%) Anderson +700 Jobs (1.2%)
Florence +1,300 Jobs (1.5%) Greenville +900 Jobs (0.3%) Myrtle
Beach -6,300 Jobs (4.9%) Spartanburg +1,200 Jobs (1.0%) Sumter +200
Jobs (0.5%) Source: SCESC/LMI Employment Change by Metropolitan
Areas August 2006 September 2006 Over the month , the Columbia MSA
added 2,300 jobs, boosted by Government (+3,100).
23. SC Employment Change for Key Sectors September 2005
September 2006 Nearly all sectors experienced gains over the year ,
led by Trade, Transportation and Utilities (+11,600), and
Government (+11,200). Source: SCESC/LMI
24. Nonfarm Employment For SC and SE Selected States September
2006 Nonfarm employment in SC surged 2.8% over the past 12 months,
which is significantly higher than most states in our region.
Additionally, the state experience strong growth in Construction
(8.0%), Financial Activities (5.8%), and Leisure and Hospitality
(3.8%). 2.8% 1.8% 0.2% 5.9% 1.5% Virginia -1.1% -2.4% -1.5% -1.5%
-0.2% -0.4% 0.3% Manufacturing 12-month % change 3.3% 2.0% 3.2%
1.8% Georgia 3.9% 3.6% (not seasonally adj.) 4.1% 1.8% North
Carolina 3.2% 3.8% 3.0% 3.7% 2.8% Leisure and Hospitality 12-month
% change 5.8% 8.0% 2.8% South Carolina 1.2% 1.0% 2.9% 1.4% Nonfarm
Employment 12-month % change 2.7% 2.6% NA 2.9% Construction
12-month % change 0.6% Tennessee 0.5% 2.6% 0.0% Financial
Activities 12-month % change Kentucky Florida Alabama State
25. Over the year , 30,600 jobs were created in six of the
eight metropolitan areas. A total of 23,400 were created in the
non-metropolitan counties of the state. Employment Change by
Metropolitan Areas September 2005 September 2006 Greenwood Oconee
Anderson Pickens Greenville Spartanburg York Laurens McCormick
Edgefield Aiken Lexington Saluda Barnwell Orangeburg Calhoun
Allendale Hampton Jasper Beaufort Colleton Bamberg Charleston
Dorchester Berkeley Georgetown Williamsburg Clarendon Sumter
Florence Dillon Lee Darlington Marlboro Chesterfield Richland
Kershaw Fairfield Lancaster Union Chester Horry Cherokee Marion
Newberry Abbeville Charleston +7,500 Jobs (2.7%) Columbia +11,800
Jobs (3.3%) Anderson -1,500 Jobs (2.4%) Florence +3,500 Jobs (4.1%)
Greenville +3,300 Jobs (1.1%) Myrtle Beach +2,800 Jobs (2.3%)
Spartanburg -1,700 Jobs (1.4%) Sumter +1,700 Jobs (4.1%) Source:
SCESC/LMI
26. Other Indicators
27.
28.
29.
30.
31. South Carolina Total Employment 13 counties account for 70%
of total employment Greenwood Oconee Anderson Pickens Greenville
Spartanburg York Laurens McCormick Edgefield Aiken Lexington Saluda
Barnwell Orangeburg Calhoun Allendale Hampton Jasper Beaufort
Colleton Bamberg Charleston Dorchester Berkeley Georgetown
Williamsburg Clarendon Sumter Florence Dillon Lee Darlington
Marlboro Chesterfield Richland Kershaw Fairfield Lancaster Union
Chester Horry Cherokee Marion Newberry Abbeville
32. SC Population 2000 - 2005 Based on U.S. Census Bureau
population estimates as of July 1, 2005, the states population
stood at 4.26 million, up 1.4% from July 1, 2004. The growth rate
was the 12 th fastest in the U.S. Source: U.S. Census Bureau
33. Annual Estimates of the Population in S.C. by Race Alone:
As of July 1, 2005 Source: U.S. Census Bureau, Population Division
August 4, 2006 Blacks continue to be the largest minority group in
the state at 1.3 million (29.7%).
34. Foreign-born Population For SC and Selected SE States The
US foreign-born population grew by 16% from 2000 2005. South
Carolina led the nation over this time period, up 48%. Sources:
Census Bureau; USA Today +32% Kentucky +22% Florida +30% Alabama
+32% North Carolina +39% Georgia +43% Tennessee +48% South Carolina
Foreign-born Population Growth 2000 2005 State
35. Occupational Wages, Per Capita Income & Poverty
Rates
36.
37.
38. Greenwood Oconee Anderson Pickens Greenville Spartanburg
York Laurens McCormick Edgefield Aiken Lexington Saluda Barnwell
Orangeburg Calhoun Allendale Hampton Jasper Beaufort Colleton
Bamberg Charleston Dorchester Berkeley Georgetown Williamsburg
Clarendon Sumter Florence Dillon Lee Darlington Marlboro
Chesterfield Richland Kershaw Fairfield Lancaster Union Chester
Horry Cherokee Marion Newberry Abbeville Charleston $30,514
Columbia $30,927 Anderson $26,922 Florence $27,217 Greenville
$29,636 Myrtle Beach $26,686 Spartanburg $26,710 Sumter $24,482
Source: Bureau of Economic Analysis, September 2006 Per Capita
Income by Metropolitan Areas 2005 Augusta-Richmond County, GA-SC
$28,105 Charlotte-Gastonia-Concord, NC-SC $36,151
39. 2005 Poverty Rates For SC and Selected SE States In 2005,
the nations poverty rate was 13.3%. Source: Census Bureau 14 14.4%
Georgia 13 15.1% North Carolina 15.5% 15.6% 16.8% 17.0% 19.8% 21.3%
Percent 12 11 9 8 2 1 Rank Alabama Tennessee South Carolina
Kentucky Louisiana Mississippi State
40. SC Poverty Rates By Race and Hispanic Origin 2005 Source:
Census Bureau 29.0% Hispanic origin (any race) 14.0% Asian 26.9%
African American 9.8% White, not Hispanic Poverty Rate Race and
Hispanic Origin
41. SC Poverty Rates By Educational Attainment 2005 Source:
Census Bureau 3.4% Bachelors degree or higher 7.7% Some college,
associates degree 12.9% High school graduate 25.9% Less than high
school graduate Poverty Rate Educational Attainment (Population 25
years and older)
42. Contact LMI South Carolina Employment Security Commission
Labor Market Information Department (803) 737-2660 or
1-800-205-9290 www.sces.org/lmi Mike Daniels: [email_address]