SC’s unemployment rate has historic drop in August

The USA unemployment rate is 5.1 percent.

State leaders pointed to signs of slow, long-term improvement in releasing the unemployment figures.

The Department of Employment and Workforce reported Friday that the seasonally adjusted unemployment rate dropped from 6.4 percent in July to 6 percent in August.

The River Region continued to boast some of the lowest jobless rates in the state.

“Tennessee’s August unemployment rate remained at 5.7 percent for the third consecutive month”. Lexington and Charleston had a 5.3 percent rate in July. Employment grew 1.1 percent overall in that year. Virginia’s seasonally adjusted unemployment rate remains below the national rate, which was down 0.2 percentage point in August to 5.1%. The largest increases occurred in trade, transportation and utilities, government, and leisure and hospitality. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and durable goods manufacturing.

The number of unemployed people statewide dropped by 7,910 to 135,285, according to the department. By contrast, Virginia lost 3,000 jobs in July.

Employers have also been hiring at a solid pace, adding an average of 243,000 a month in the past 12 months. The number in August 2014 was 8.5 percent.