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South Carolina reports record breaking month in Great Resignation

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WIS FILE(WIS)
Published: Jun. 9, 2022 at 4:56 PM EDT
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COLUMBIA, S.C. (WIS) -The South Carolina Department of Employment and Workforce (SCDEW) said workers are leaving their old jobs behind in record numbers.

SCDEW’s report released on June 9, 2022 said an estimated 90,000 South Carolinians quit their jobs in March of this year, breaking previous records. SCDEW said the statistics were pulled from the U.S. Bureau of Labor Statistics (BLS) for preliminary seasonal adjusted data.

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S.C. Department of Employment and Workforce LMI Director Dr. Bryan Grady said of the workers, “...122,000 were hired that same month. The presence of 189,000 job openings, representing a 37 percent increase from one year prior, no doubt contributed to this churn.”

Amid the Great Resignation, SCDEW says many employees are leaving behind their lower paying jobs for new opportunities. Overall, the department says wage gains have been seen across most industries.

Leisure and hospitality have had the largest growth since 2020 at 29.1%. Weekly earnings for education and health services were reported to have risen 22.9%. Construction rose 17%.

S.C. Department of Employment and Workforce Executive Director Dan Ellzey said that wages had increased in all 10 metropolitan statistical areas in the state. Ellzey also said,

“Weekly earnings have increased most dramatically in the Grand Strand area that includes Myrtle Beach, Conway, and North Myrtle Beach, with that region seeing a 20.6 percent increase over the two previous years. The Sumter, Spartanburg, and Charleston-North Charleston MSAs have also experienced double-digit wage gains.”

This growth has led to a competitive job market explained Ellzey.

Thursday’s report also said the average private sector worker in April made $950.37 per week in the preliminary data. SCDEW says this is a 9.2% increase compared to April of 2020.

SCDEW reports all 10 Metropolitan Statistical Areas in the state have seen earning increases.
SCDEW reports all 10 Metropolitan Statistical Areas in the state have seen earning increases.(SCDEW)

Despite these increases, consumer confidence is still shaken. At the end of May the consumer confidence index dipped, an indicator that perceptions about the job market and the economy have dimmed.

This comes as the U.S. is experiencing a 40 year high on inflation, leaving concerns if earnings are keeping pace. Other indicators of potential economic issues are rising rent rates nationwide and shrinkflation.

In May, South Carolina reported unemployment in the state had fallen to 3.3%.

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