JOBLESS RATE FALLS TO 8.6 PERCENT ON THE STRENGTH OF NEW TAXPAYER-FUNDED POSITIONS
South Carolina’s unemployment rate fell another half percent in October – from 9.1 to 8.6 percent – however for the second month in a row taxpayer-funded positions were the primary driver of the decline.
The Palmetto State added 5,100 government jobs in October – on top of the 15,500 government positions it added a month ago. That’s 20,600 new taxpayer-funded positions in the last two months alone. This massive influx of government jobs has resulted in a modest increase in the size of the state’s labor force over the last two months – although the number of available workers has declined by more than 20,000 from this time a year ago.
In August, South Carolina’s labor participation rate dipped to an all-time low of 58.3 percent – well below the national labor participation rate of 63.8 percent.
South Carolina’s private sector? It added 6,000 jobs this month after losing more than 10,000 jobs last month. Of course 4,500 of these new positions were in the “education and health services” field – a segment of the state economy that is largely subsidized by tax dollars.
The Palmetto State’s underemployment rate – a broader, more accurate measure of joblessness – currently stands at 16.3 percent. Nationally, unemployment stands at 7.9 percent while underemployment is at 15 percent.
South Carolina’s “Republican-controlled” General Assembly has grown government by more than $3 billion over the last two years. Since taking office last January, S.C. Gov. Nikki Haley has approved all but $273 million out of $45 billion in state spending.
OCTOBER 2012 UNEMPLOYMENT REPORT (.pdf)
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4 comments
Obamanamics practiced by Nikki Haley.
Last month it was a HIGH number of education jobs (teachers.)…that FITS omitted…
Not sure: But w/ Obama campaigning in Oct… I would not doubt if the government jobs are Federal Pay-Backs….or it’s still education jobs…
SC gov’t is likely shedding jobs, everywhere else but education…
It’s a good thing about the Obama Depression…government has HAD TO cut jobs…
To blame Haley is ludicrous. It’s a NATIONAL problem w/ unemployment…It begins and ends w/ Obama…just like the Depression started w/ his election…and has just worsened…
How is it that the reddest of the reds doesn’t have zero unemployment? Surely we haven’t been bullshitted again.
I prefer government jobs to decrease as much as the next guy if it means growth in the private sector, but the rate of growth over the last year for government jobs is lower at +1.51% versus non-government at +1.95%. You can spin stats in all kinds of different ways, but here’s one.