Bureau of Labor issues August jobs report
The U.S. Bureau of Labor Statistics (BLS) recently issued the August jobs report. While the United States added more than one million jobs in July, the jobs added in August dropped sharply to 235,000. That number was over 500,000 fewer than the expectation of 750,000 jobs added in August. Many sources are attributing this significant drop in jobs added to the surging Delta variant and increase in cases.
South Carolina’s August Employment Situation Report will likely not be released until later this month but recall that according to the July Employment Situation Report, SC’s economy picked up 20,100 seasonally adjusted nonfarm jobs over the month. That was up significantly from an increase of 6,300 jobs the previous month and 4,100 from April to May. In July, industries that reported gains were:
• Leisure and Hospitality (+9,300)
• Government (+5,100)
• Construction (+2,600)
• Manufacturing (+1,700)
• Professional and Business Services (+1,000)
• Financial Activities (+600)
• Other Services (+400)
Decreases were observed in the following sectors:
• Trade, Transportation, and Utilities (-300)
• Information (-200)
• Education and Health Services (-100)
We will continue to monitor the employment situation in South Carolina as the Delta variant continues its surge.