Skip to Main Content
Federal Reserve Bank of Richmond
Menu

South Carolina

aerial view of South Carolina

Payroll employment in South Carolina grew by 6,000 jobs in September (0.2 percent). The unemployment rate is at 4.5 percent after rising by 0.2 percentage points.

Download Full PDF

Labor market icon showing three people Labor Market Conditions

  • "Job growth in South Carolina improved in September, with 6,000 new jobs added over the month. The size of South Carolina's labor force also continues to expand, with roughly 5,000 new entrants in September." – Bethany Greene
  • Total payroll employment in South Carolina grew by 6,000 jobs in September (0.2 percent). Job gains were led by construction and trade, transportation and utilities which each added 3,000 jobs. However, total job gains were partially offset by job losses in financial activities (1,000 jobs) and professional and business services (2,000 jobs).
  • On a year-over-year basis, payroll employment grew by 76,000 jobs (3.3 percent). All major industries have seen positive job growth over the year, with professional and business services (12,000 job), education and health services (15,000 jobs) and leisure and hospitality (12,000 jobs) seeing the largest annual increases.
  • The unemployment rate in South Carolina is at 4.5 percent after rising by 0.2 percentage points in September. The state continues to see strong growth in the size of their labor force, adding 5,000 workers over the period.

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

  • Residential permitting activity shrunk by 4.8 percent from August 2024 to September 2024 and increased by 6.2 percent from September 2023 to September 2024.
  • According to the Federal Housing Finance Agency, home values increased in Q2 of 2024 by 2.9 percent compared to Q1 of 2024. Compared to Q2 of 2023, home values grew by 7.7 percent in Q2 of 2024.
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.

Subscribe to Economic Data

Receive an email notification when regional surveys and reports are posted online:

Subscribe to Economic Data

By submitting this form you agree to the Bank's Terms & Conditions and Privacy Notice.

Phone Icon Contact Us
Joseph Mengedoth (804) 762-2285