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Federal Reserve Bank of Richmond

South Carolina

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Payroll employment in South Carolina increased by 2,600 jobs (0.1 percent) during May. The unemployment rate is currently 4.6 percent, decreasing by 0.2 percentage points.

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Labor market icon showing three people Labor Market Conditions

  • "South Carolina continued solid employment growth in May, led by gains in leisure and hospitality." – Bethany Greene
  • Total payroll employment in South Carolina increased by 2,600 jobs (0.1 percent), on net, during May. Job gains were driven primarily by leisure and hospitality (1,800 jobs). Government employment declined by 2,000.
  • On a yearly basis, payroll employment grew by 20,200 jobs (0.8 percent). Annual job growth was led by education & health services (8,600 jobs), leisure and hospitality (4,700 jobs) and construction (4,200 jobs). Overall employment gains were partially offset by annual losses in professional and business services (3,000 jobs), information (1,600 jobs) and manufacturing (200 jobs)
  • The unemployment rate in South Carolina is currently 4.6 percent, decreasing by 0.2 percentage points in May. The labor force continues to grow, adding 5,500 participants over the month.

Housing Market icon showing a picture of a house Housing Market Conditions

  • Residential permitting activity decreased 14.7 percent from April 2026 to May 2026 and decreased 14.5 percent from May 2025 to May 2026.
  • According to the Federal Housing Finance Agency, home values increased in Q1 of 2026 by 1.0 percent compared to Q4 of 2025. Compared to Q1 of 2025, home values grew 3.4 percent in Q1 of 2026.
Snapshot Resources
  • Term Definitions

    Payroll Employment
    The number of nonfarm jobs (persons on payrolls) according to where those jobs are located.

    Unemployment Rate
    The number of unemployed persons (those not employed but available and searching for work) as a percent of the civilian labor force (the total number of employed plus unemployed persons).

    Industry Structure
    A breakdown of total nonfarm jobs by industry. Percentages sum to 100 percent.

    Industry Growth
    The percentage change in jobs in each industry from a year ago.

    Building Permits
    The number of privately owned single-family and multi-family units authorized in permit-issuing places.

    House Price Index
    A repeat sales index, measuring average price changes in repeat sales or refinancings on the same single-family properties.

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