Employment and Workforce Executive Director Dan Ellzey’s Statement July Employment Situation
Tuesday, August 25th, 2020
“The latest release for July’s Employment Situation shows the number of jobs continue to rise as the unemployment rate moves lower. The state’s worst unemployment rate was measured in April, with a revised unemployment rate of 12.8 percent. July’s seasonally adjusted unemployment rate in South Carolina stands at 8.6 percent, a 32.8 percent improvement. That number is significantly better than the current national unemployment rate of 10.2 percent,” states executive director Dan Ellzey.
“With a decreased unemployment rate, it’s no surprise that July’s release shows a promising trend of people rejoining the workforce. If we compare the number of employed South Carolinian’s in April (2,089,889) to July (2,242,832), it shows that 152,943 South Carolinians have rejoined the workforce. If we compare the number of people with jobs in March (2,334,652) to July’s (2,242,832), it shows that 91,820 individuals will need to find work in order to get back to pre-pandemic employment numbers,” states Ellzey.
“Overall, I believe our state should be pleased with the recovery-driven direction of our economy. We are encouraged by the steady improvements. I believe the positive trends are indicative of the timing and measured steps taken by Governor McMaster when re-opening our economy,” concludes Ellzey.
ADDITIONAL RESOURCE: For a better understanding of how the U.S. Bureau of Labor Statistics utilizes trained Census Bureau employees to capture critical labor force data each month, you can read the full PDF explanation here: https://www.bls.gov/cps/cps_htgm.pdf.