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SC Unemployment Rate Dips Slightly

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South Carolina’s unemployment rate slid from 8.6 percent in February to 8.4 percent in March, according to the S.C. Department of Employment and Workforce (SCDEW) – but this decline was accompanied by another drop in the state’s record-low labor participation rate.

SCDEW officials did not disclose the state’s current labor participation rate, they merely announced that it had experienced a “minor decline” from February to March. In February this key indicator – which measures the number of working age persons who are either employed or looking for a job – hit a record low of 58.6 percent.

As recently as June of 2011, that number was at 60.9 percent.

Nationally, the labor participation rate stands at 63.3 percent – its lowest level in thirty-four years.

Developing …

MARCH 2013 UNEMPLOYMENT REPORT (.pdf)

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