South Carolina ranked among most challenging states to hire in

COLUMBIA, S.C. (WIS) -A new study ranks South Carolina among the most challenging states to hire in.

The website Wallethub.com found the Palmetto State is the seventh most difficult state for employers to fill positions in the country. The study found SC had a job opening rate of 7.20% in Sept. and 7.65% over the last twelve months.

The top state was Alaska, with an 11.90% job opening rate for last month and a 9.78% job opening rate over the last 12 months.

SC has been at the forefront of the Great Resignation throughout 2022. Workers in the state continue to quit at a near-record pace according to SCDEW.

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The website spoke with a panel of experts on nationwide hiring trends. Some of the advice they had for employers included looking at methods for retaining employees. Dave Ulrich is a professor at the Ross School of Business, he said,

“Organizations are better off retaining employees because the cost of turnover is high, not only economic with having to pay new employees but also in terms of lost productivity, employee sentiment, investor confidence in the organization, and customer connection.”

Other difficulties for employers in filling positions are a shortage of trained staff being lost to market competition. Fewer prospective employees are available that are willing to work for the pay being offered, putting pressure on wages to go up. Wallethub also pointed to this as another factor in inflation, as businesses pass some of the cost on to consumers.

Other factors in the market include low unemployment, and high inflation leading to strong bargaining positions for workers. The panel forecast a lukewarm holiday season may curtail some of the seasonal jobs that are normally generated. Some businesses may also take a more wait-and-see approach for hiring heading into 2023 as the Fed continues to fight inflation.

Currently, the national unemployment rate in the U.S. is at around 3.7%. In South Carolina, the unemployment rate is at around 3.2%.

Wallethub said they used data from the U.S. Bureau of Labor Statistics in making this comparison.

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