It was another strong job report for the month of November in South Carolina, and the recovery of the state from the initial spread of COVID-19 in the spring was significantly better than the US overall.
Richmond Federal Reserve Bank regional economist Laura Ullrich, based in Charlotte, provided an analysis of the United States Department of Labor’s official South Carolina jobs report in a conference call on Friday with two state media. , including The Sumter Item.
After losing 272,700 jobs in April with the start of the pandemic, Palmetto State continued its long climb back up the hill, adding 16,300 jobs in November.
The monthly count continues to add 11,700 jobs in October and 24,800 in September, and the state added a total of 221,000 jobs back in the seven months after the sharp drop. This represents an increase of about 81.3% in the period, and the overall net loss fell to 51,000 jobs.
The same cannot be said for the country in general since April. The US created 12.3 million jobs, after losing 22.2 million in April, representing an increase of 55.4%.
Since November 2019, total jobs in South Carolina have dropped 3%, or 65,800 jobs. In the same period, jobs in the US fell 6.1%.
In South Carolina, job growth in November was seen in most industry sectors, with the biggest gains in commerce, transportation and public services (4,600 added), leisure and hospitality (3,800 added), professional and business services (3,800 added), private education and private health care services (plus 2,100) and construction (plus 1,500). The government reduced 600 jobs in the month and financial activities fell by 200 jobs, according to the report.
In the year-on-year evolution since November 2019, three sectors now in the state showed job growth. This includes construction at 3.8%, manufacturing at 0.3% and financial activities at 0.2%. No national sector has been in positive territory since November 2019, said Ullrich.
The recovery looks different across sectors, and winter affects some sectors more than others, she added. Some restaurants in the Charlotte area that tried to capitalize on outdoor dining in the fall decided to close until spring, said Ullrich.
COVID-19 cases have skyrocketed with colder temperatures and holidays, and there are many doubts about what the winter months will bring, she said.
“The vaccine is there, and there are people who are getting it,” said Ullrich, “but how long will it take before enough people get it to be able to get over it? It will still take several months. So, during those months – it is also winter – I think we could expect some difficult times for some of these companies. “
In another research report, South Carolina’s unemployment rate increased from 4.2% in October to 4.4% in November, mainly due to the reduction in the workforce, an indicator that includes the number of employed and unemployed people looking for work. Ullrich said he did not know the reason for the fall. The state’s unemployment rate is the seventh lowest among the 50 states.
Locally, Sumter County’s unemployment rate was 5%. Clarendon County stood at 4.9% and Lee had the highest unemployment rate in the area, 5.6%. Lee’s unemployment rate was ninth in the state.
The national monthly unemployment rate was 6.7%. A broader measure of unemployment in the U.S. to include individuals marginally linked to the workforce plus people who work only part-time for economic reasons was 12% for the month. In November 2019, that broader rate was 6.5%.