PALMETTO WORKFORCE SHRINKS
South Carolina’s labor force shrunk as a percentage of the state’s population in May, according to data from the U.S. Bureau of Labor Statistics (BLS).
It’s the latest evidence that state government’s addiction to spending and borrowing – and crony capitalist “economic development” – is not serving the best interests of its people.
The Palmetto State’s labor participation rate stood at 59.2 percent in May – the latest month for which data is available. That’s down 0.2 percent from April and well below the national average of 62.7 percent.
Once again South Carolina has the seventh-lowest rate in the nation – ahead of only Alabama, Arkansas, Louisiana, Mississippi, New Mexico and West Virginia.
For those of you keeping score at home, 2,328,694 people were part of the state’s labor force in May out of a working age population of 3,934,537. The labor force shrunk by 5,445 people compared to April, while the working age population expanded by 4,340 people.
Not good …[timed-content-server show=”2017-Jun-25 00:00:00 -0000″ hide=”2017-Jul-10 00:00:00 -0000″]
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