SOUTH CAROLINA WORKFORCE IS SHRINKING AGAIN …
The percentage of South Carolina’s working age population that’s participating in the labor force dipped again in July – falling from 59.6 percent in June to 59.3 percent last month.
That’s according to data released by the U.S. Bureau of Labor Statistics (BLS).
South Carolina’s labor participation rate is currently the eighth-lowest rate in the nation – and well below the national rate of 62.8 percent (which actually increased by a tenth of a percentage point in July).
Labor participation under governor Nikki Haley peaked at 60.3 percent in mid-2011. It dipped below the 60 percent mark in December 2011, though, and has stayed there ever since.
All told, there were 2,303,434 South Carolinians listed as part of the civilian labor force in July – down from 2,310,722 in June. That number includes people who are either working or actively looking for a job. Meanwhile the state’s working age population ticked up from 3,876,644 to 3,881,455.
The percentage of South Carolinians actually employed also slipped – from 56.4 to 56.2 percent. That figure was also eighth-lowest in the nation.
In addition to anemic labor participation, South Carolina is also struggling from bad jobs, low incomes and weak economic growth.
But hey … “it’s a great day in South Carolina,” right?
Right?
In fact our “Republican” leaders – whose spending is out of control – seem to think now is the perfect time to raise taxes.