PALMETTO LABOR PARTICIPATION RATE STANDS AT 59.4 PERCENT
|| By FITSNEWS || As the latest estimates on Social Security’s looming insolvency demonstrate, government numbers are often exceedingly unreliable. Especially jobs numbers … around election time.
Anyway, one number that’s been moving in the right direction in recent months is South Carolina’s labor participation rate – which measures the percentage of the Palmetto State’s working-age population that’s got a job.
Last year this critical measure hit a record low of 57.8 percent, but since then it has gradually climbed – reaching as high as 59.5 percent in May.
That’s good … again, assuming you trust the U.S. Department of Labor’s constant tinkering with the data.
This month the upward momentum stalled, though, with labor participation in South Carolina slipping back to 59.4 percent – the seventh-lowest rate in the nation. That’s more than three points below the national rate of 62.6 percent – which is itself at four-decade lows.
All told, a whopping 93 million working age Americans are not part of the workforce – one reason our nation’s dependency culture is continuing to bleed taxpayers (and the economy they are trying to support) dry.
Don’t get us wrong: South Carolina has been trending in the right direction on the labor participation front – and we hope this latest downtick is nothing to worry about.
But with strong global headwinds and “bipartisan” leadership in Washington, D.C. (and Columbia, S.C.) that’s totally uncommitted to supporting free market reforms, we’re not hopeful.
6 comments
Corrections:The Labor force includes the unemployed.
Labor force (Current Population Survey); The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary.Labor force participation rate;The labor force as a percent of the civilian noninstitutional population.
Are not those all Red States? Guess Cons don’t like to work, but take a check from Uncle Sammy. “You can have my welfare check when you pry it from my cold, dead hands!”
They are all Southern states. You know that historically they were all Democratic-controlled and Kentucky still is. But since Republicans took over they have had greater immigration from Democratic Northern states and greater GDP growth. No they haven’t caught up yet.
Let’s not forget that the un-civil war put the South back economically for 100 years either.
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Lots of low paying jobs in SC nobody really wants because they can not survive. Its easier to just be on Welfare. But lots of high paying government jobs already taken by do nothings. And moreso, lots of people transplanting to SC for better jobs anyway. The Volvo jobs will be taken by these types. Just like Boeing. Mostly people who are not even from South Carolina.