BLS - U.S. Bureau of Labor Statistics

11/07/2024 | Press release | Distributed by Public on 11/07/2024 10:21

Business Employment Dynamics in South Carolina — First Quarter 2024

News Release Information

24-2293-ATL
Thursday, November 07, 2024

From December 2023 to March 2024, gross job gains from opening and expanding private-sector establishments in South Carolina were 123,861, while gross job losses from closing and contracting private-sector establishments were 120,378, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Victoria G. Lee noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 3,483 jobs in the private sector during the first quarter of 2024. During the previous quarter, gross job gains exceeded gross job losses by 17,524. (See chart 1.)

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The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy. Business Employment Dynamics (BED) statistics track these changes in employment at private-sector establishments from the third month of one quarter to the third month of the next. The difference between the number of gross job gains and the number of gross job losses is the net change in employment. (See the Business Employment Dynamics Technical Note.)

Gross job gains

In the first quarter of 2024, gross job gains represented 6.4 percent of private-sector employment in South Carolina; nationally, gross job gains accounted for 5.7 percent of private-sector employment. (See chart 2.) Gross job gains are the sum of increases in employment due to expansions at existing establishments and the addition of new jobs at opening establishments. In South Carolina, gross job gains at expanding establishments totaled 96,384 in the first quarter of 2024, an increase of 3,362 jobs compared to the previous quarter. (See table 1.) Opening establishments accounted for 27,477 jobs gained in the first quarter of 2024, an increase of 2,377 jobs from the previous quarter.

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Gross job losses

In the first quarter of 2024, gross job losses represented 6.3 percent of private-sector employment in South Carolina; nationally, gross job losses accounted for 5.4 percent of private-sector employment. (See chart 3.) Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. In South Carolina, contracting establishments lost 93,940 jobs in the first quarter of 2024, an increase of 12,676 jobs from the prior quarter. Closing establishments lost 26,438 jobs, an increase of 7,104 jobs from the previous quarter.

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Industries

Gross job gains exceeded gross job losses in 6 of the 11 industry sectors in South Carolina in the first quarter of 2024. Education and health services had the largest over-the-quarter net job increase, with a gain of 1,884 jobs. This was the result of 15,821 gross job gains and 13,937 gross job losses. The retail trade industry had a net gain of 1,876 jobs, followed by manufacturing with a net gain of 1,674 jobs. Transportation and warehousing showed a net loss of 1,896 jobs, the largest loss of any sector in the state. South Carolina's financial activities industry sector had a net loss of 1,306 jobs.

For more information

The BED data series include gross job gains and gross job losses by industry subsector, for the 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands, as well as gross job gains and gross job losses at the firm level by employer size class. BED data for the states have been included in table 2 of this release. Additional information is available online at the Business Employment Dynamics Home.

The Business Employment Dynamics for Second Quarter 2024 are scheduled to be released on Wednesday, January 29, 2025, at 10:00 a.m. (ET).

Revisions to Business Employment Dynamics (BED) Data

Data in this release contain annual revisions in accordance with standard procedures. These revisions include the previous four quarters of not seasonally adjusted data and five years of seasonally adjusted data.


Technical Note

The Business Employment Dynamics (BED) data are a product of a federal-state cooperative program known as Quarterly Census of Employment and Wages (QCEW). The BED data are compiled by the U.S. Bureau of Labor Statistics (BLS) from existing QCEW records.

More information on formal definitions of the data used in this release, along with coverage, concepts, and methodology, can be found in the Business Employment Dynamics Technical Note.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.

Category Gross job gains and losses
(3 months ended) 		Gross job gains and losses
as a percent of employment
(3 months ended)
Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024 		Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024

Total private

Gross job gains

126,532 119,860 124,869 118,122 123,861 6.8 6.4 6.6 6.2 6.4

At expanding establishments

98,465 93,561 94,869 93,022 96,384 5.3 5.0 5.0 4.9 5.0

At opening establishments

28,067 26,299 30,000 25,100 27,477 1.5 1.4 1.6 1.3 1.4

Gross job losses

110,072 123,341 106,590 100,598 120,378 5.9 6.6 5.7 5.3 6.3

At contracting establishments

87,942 96,953 86,569 81,264 93,940 4.7 5.2 4.6 4.3 4.9

At closing establishments

22,130 26,388 20,021 19,334 26,438 1.2 1.4 1.1 1.0 1.4

Net employment change

16,460 -3,481 18,279 17,524 3,483 0.9 -0.2 0.9 0.9 0.1

Construction

Gross job gains

8,067 8,442 8,997 7,726 8,476 7.3 7.5 8.0 6.7 7.3

At expanding establishments

6,053 6,300 6,392 5,764 6,492 5.5 5.6 5.7 5.0 5.6

At opening establishments

2,014 2,142 2,605 1,962 1,984 1.8 1.9 2.3 1.7 1.7

Gross job losses

7,146 8,042 7,181 6,067 7,786 6.5 7.2 6.4 5.3 6.7

At contracting establishments

5,164 5,692 5,522 4,661 5,711 4.7 5.1 4.9 4.1 4.9

At closing establishments

1,982 2,350 1,659 1,406 2,075 1.8 2.1 1.5 1.2 1.8

Net employment change

921 400 1,816 1,659 690 0.8 0.3 1.6 1.4 0.6

Manufacturing

Gross job gains

9,182 8,308 7,924 7,641 10,135 3.5 3.1 3.0 2.9 3.8

At expanding establishments

7,504 7,217 7,124 6,657 8,431 2.9 2.7 2.7 2.5 3.2

At opening establishments

1,678 1,091 800 984 1,704 0.6 0.4 0.3 0.4 0.6

Gross job losses

8,570 8,491 7,542 8,134 8,461 3.2 3.3 2.8 3.1 3.2

At contracting establishments

7,663 7,539 6,901 7,277 6,720 2.9 2.9 2.6 2.8 2.5

At closing establishments

907 952 641 857 1,741 0.3 0.4 0.2 0.3 0.7

Net employment change

612 -183 382 -493 1,674 0.3 -0.2 0.2 -0.2 0.6

Wholesale trade

Gross job gains

4,350 4,325 3,977 4,298 4,378 5.3 5.3 4.8 5.2 5.3

At expanding establishments

3,619 3,566 3,098 3,322 3,319 4.4 4.4 3.7 4.0 4.0

At opening establishments

731 759 879 976 1,059 0.9 0.9 1.1 1.2 1.3

Gross job losses

3,611 3,620 3,170 3,781 3,952 4.4 4.4 3.8 4.5 4.8

At contracting establishments

2,805 2,684 2,639 2,862 2,808 3.4 3.3 3.2 3.4 3.4

At closing establishments

806 936 531 919 1,144 1.0 1.1 0.6 1.1 1.4

Net employment change

739 705 807 517 426 0.9 0.9 1.0 0.7 0.5

Retail trade

Gross job gains

15,242 15,066 13,534 13,467 15,540 5.7 5.6 5.1 5.1 5.8

At expanding establishments

13,022 13,066 11,112 10,939 13,220 4.9 4.9 4.2 4.1 4.9

At opening establishments

2,220 2,000 2,422 2,528 2,320 0.8 0.7 0.9 1.0 0.9

Gross job losses

13,303 14,824 13,985 13,015 13,664 5.0 5.6 5.3 4.9 5.1

At contracting establishments

11,351 12,688 12,183 11,173 11,525 4.3 4.8 4.6 4.2 4.3

At closing establishments

1,952 2,136 1,802 1,842 2,139 0.7 0.8 0.7 0.7 0.8

Net employment change

1,939 242 -451 452 1,876 0.7 0.0 -0.2 0.2 0.7

Transportation and warehousing

Gross job gains

4,637 4,291 4,512 6,557 4,127 5.5 5.3 5.6 8.0 5.1

At expanding establishments

3,970 3,592 3,584 5,658 3,178 4.7 4.4 4.4 6.9 3.9

At opening establishments

667 699 928 899 949 0.8 0.9 1.2 1.1 1.2

Gross job losses

6,334 5,887 4,314 3,886 6,023 7.5 7.2 5.4 4.7 7.3

At contracting establishments

5,712 5,062 3,597 3,295 5,304 6.8 6.2 4.5 4.0 6.4

At closing establishments

622 825 717 591 719 0.7 1.0 0.9 0.7 0.9

Net employment change

-1,697 -1,596 198 2,671 -1,896 -2.0 -1.9 0.2 3.3 -2.2

Information

Gross job gains

1,785 1,846 1,711 1,915 1,424 6.0 6.3 5.9 6.7 5.0

At expanding establishments

1,282 1,283 1,181 1,375 1,080 4.3 4.4 4.1 4.8 3.8

At opening establishments

503 563 530 540 344 1.7 1.9 1.8 1.9 1.2

Gross job losses

1,982 2,393 1,659 1,792 2,015 6.8 8.2 5.7 6.2 7.1

At contracting establishments

1,435 1,583 1,217 1,321 1,469 4.9 5.4 4.2 4.6 5.2

At closing establishments

547 810 442 471 546 1.9 2.8 1.5 1.6 1.9

Net employment change

-197 -547 52 123 -591 -0.8 -1.9 0.2 0.5 -2.1

Financial activities

Gross job gains

6,781 7,136 6,734 6,447 6,509 5.9 6.2 5.7 5.5 5.5

At expanding establishments

5,172 5,437 4,829 4,770 4,748 4.5 4.7 4.1 4.1 4.0

At opening establishments

1,609 1,699 1,905 1,677 1,761 1.4 1.5 1.6 1.4 1.5

Gross job losses

5,510 6,035 5,150 5,387 7,815 4.8 5.2 4.4 4.6 6.6

At contracting establishments

3,740 4,505 3,987 3,895 5,676 3.3 3.9 3.4 3.3 4.8

At closing establishments

1,770 1,530 1,163 1,492 2,139 1.5 1.3 1.0 1.3 1.8

Net employment change

1,271 1,101 1,584 1,060 -1,306 1.1 1.0 1.3 0.9 -1.1

Professional and business services

Gross job gains

25,873 24,993 27,056 21,811 24,628 8.3 8.1 8.7 7.0 7.9

At expanding establishments

19,313 17,884 20,294 16,641 19,207 6.2 5.8 6.5 5.3 6.2

At opening establishments

6,560 7,109 6,762 5,170 5,421 2.1 2.3 2.2 1.7 1.7

Gross job losses

23,397 27,898 23,212 22,600 23,684 7.6 9.0 7.5 7.2 7.6

At contracting establishments

18,208 21,969 17,924 17,487 17,676 5.9 7.1 5.8 5.6 5.7

At closing establishments

5,189 5,929 5,288 5,113 6,008 1.7 1.9 1.7 1.6 1.9

Net employment change

2,476 -2,905 3,844 -789 944 0.7 -0.9 1.2 -0.2 0.3

Education and health services

Gross job gains

16,860 17,129 16,037 14,606 15,821 6.6 6.6 6.1 5.4 5.8

At expanding establishments

12,808 13,447 12,168 11,415 12,718 5.0 5.2 4.6 4.2 4.7

At opening establishments

4,052 3,682 3,869 3,191 3,103 1.6 1.4 1.5 1.2 1.1

Gross job losses

12,277 11,931 11,934 10,728 13,937 4.8 4.6 4.5 4.0 5.1

At contracting establishments

9,462 8,588 9,304 8,309 10,583 3.7 3.3 3.5 3.1 3.9

At closing establishments

2,815 3,343 2,630 2,419 3,354 1.1 1.3 1.0 0.9 1.2

Net employment change

4,583 5,198 4,103 3,878 1,884 1.8 2.0 1.6 1.4 0.7

Leisure and hospitality

Gross job gains

26,683 23,117 27,590 26,939 26,524 9.6 8.4 10.0 9.6 9.2

At expanding establishments

20,761 17,975 20,425 21,646 19,519 7.5 6.5 7.4 7.7 6.8

At opening establishments

5,922 5,142 7,165 5,293 7,005 2.1 1.9 2.6 1.9 2.4

Gross job losses

22,780 27,783 23,683 20,356 26,614 8.2 10.0 8.6 7.2 9.3

At contracting establishments

18,492 22,161 19,830 17,297 21,670 6.7 8.0 7.2 6.1 7.6

At closing establishments

4,288 5,622 3,853 3,059 4,944 1.5 2.0 1.4 1.1 1.7

Net employment change

3,903 -4,666 3,907 6,583 -90 1.4 -1.6 1.4 2.4 -0.1

Other services

Gross job gains

5,395 4,341 5,173 5,037 4,703 9.6 7.6 9.0 8.4 7.8

At expanding establishments

3,761 3,108 3,398 3,543 3,188 6.7 5.4 5.9 5.9 5.3

At opening establishments

1,634 1,233 1,775 1,494 1,515 2.9 2.2 3.1 2.5 2.5

Gross job losses

3,857 4,427 3,764 3,601 4,968 6.9 7.7 6.5 6.0 8.3

At contracting establishments

2,856 2,933 2,768 2,623 3,615 5.1 5.1 4.8 4.4 6.0

At closing establishments

1,001 1,494 996 978 1,353 1.8 2.6 1.7 1.6 2.3

Net employment change

1,538 -86 1,409 1,436 -265 2.7 -0.1 2.5 2.4 -0.5
Category Gross job gains as a percent of employment
(3 months ended) 		Gross job losses as a percent of employment
(3 months ended)
Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024 		Mar.
2023 		June
2023 		Sept.
2023 		Dec.
2023 		Mar.
2024

United States

6.3 6.2 5.9 6.0 5.7 5.5 5.9 6.0 5.7 5.4

Alabama

6.5 6.0 6.0 6.2 5.7 5.6 5.7 6.0 5.7 5.5

Alaska

10.5 11.0 8.5 10.2 10.5 8.6 8.9 10.5 9.9 8.6

Arizona

6.0 7.0 6.8 6.5 8.4 5.6 6.3 5.7 6.6 6.4

Arkansas

5.8 5.9 5.6 6.2 5.6 5.1 6.0 5.8 5.0 5.2

California

6.3 6.8 6.4 6.4 5.8 6.6 6.4 6.5 6.4 5.6

Colorado

7.2 7.3 5.4 8.2 6.4 6.5 6.5 6.1 7.6 7.7

Connecticut

6.2 6.4 5.8 5.6 5.6 5.1 5.7 6.2 5.7 5.2

Delaware

6.7 6.4 6.0 6.1 6.0 5.2 5.8 6.5 5.8 5.1

District of Columbia

6.0 5.4 5.4 5.2 5.1 4.9 5.3 5.4 5.6 4.9

Florida

6.3 6.8 6.5 6.1 5.8 5.7 5.9 5.9 5.9 5.4

Georgia

6.5 6.3 6.1 6.2 6.0 6.0 6.4 6.1 5.7 5.7

Hawaii

5.6 5.7 5.3 6.1 5.4 5.1 5.3 6.8 5.0 5.1

Idaho

7.9 7.8 7.2 8.5 7.9 7.3 7.4 7.9 5.8 8.3

Illinois

5.8 5.4 4.8 5.0 5.1 4.8 5.2 5.3 5.1 4.8

Indiana

5.6 5.6 5.7 5.5 5.3 5.1 5.8 5.7 5.1 5.0

Iowa

6.1 6.0 5.6 6.1 6.1 5.4 5.9 5.8 5.7 5.6

Kansas

6.1 6.1 5.7 5.8 5.7 5.4 6.0 6.0 5.3 5.6

Kentucky

6.1 5.6 5.7 5.7 5.7 4.9 5.9 5.6 5.2 5.0

Louisiana

6.5 6.0 6.2 6.3 6.2 5.5 6.5 6.0 5.8 5.7

Maine

7.8 7.6 7.0 7.4 7.2 6.3 7.6 7.8 7.0 6.1

Maryland

7.2 6.7 6.3 6.2 5.8 6.0 6.6 6.4 5.8 5.7

Massachusetts

5.8 5.9 5.4 5.5 5.2 4.9 5.6 5.9 5.5 5.1

Michigan

5.8 5.9 5.2 5.5 5.4 5.0 5.3 5.9 5.5 5.2

Minnesota

5.8 6.0 3.3 6.9 5.8 4.8 5.5 4.3 6.9 5.7

Mississippi

6.5 6.4 6.2 6.1 5.7 6.1 6.5 6.2 5.7 6.1

Missouri

6.5 5.8 5.6 6.0 5.7 5.1 5.9 5.8 5.6 5.3

Montana

8.7 7.8 7.7 8.8 8.1 7.2 8.4 8.4 7.2 7.5

Nebraska

6.5 6.2 6.0 5.9 5.8 5.2 5.7 5.9 5.7 5.1

Nevada

6.2 6.5 6.5 6.7 5.9 5.8 5.9 5.6 5.4 6.2

New Hampshire

7.0 6.7 5.8 6.2 6.5 5.9 6.3 6.7 5.9 5.8

New Jersey

6.3 6.4 6.0 5.9 5.5 5.8 6.0 6.0 5.8 5.4

New Mexico

7.0 6.6 6.4 6.9 6.0 5.8 6.3 6.8 5.8 6.0

New York

6.5 6.2 5.8 5.7 5.9 5.2 5.8 6.0 5.6 5.0

North Carolina

6.6 6.1 5.7 6.3 5.4 5.3 5.7 6.1 4.9 5.5

North Dakota

7.6 6.9 6.6 6.7 6.9 5.7 6.7 6.6 6.3 6.1

Ohio

6.0 5.6 5.2 5.4 5.5 4.8 5.6 5.6 5.2 4.8

Oklahoma

6.3 6.3 6.3 6.1 5.6 5.4 6.1 6.0 5.8 5.2

Oregon

7.6 6.4 6.1 6.2 6.4 5.9 6.6 6.7 6.2 6.1

Pennsylvania

5.5 5.2 5.2 5.2 5.1 4.7 5.5 5.1 4.8 4.6

Rhode Island

7.4 6.7 6.4 6.8 6.9 5.9 6.8 6.7 6.3 5.7

South Carolina

6.8 6.4 6.6 6.2 6.4 5.9 6.6 5.7 5.3 6.3

South Dakota

7.3 6.7 6.3 6.6 6.3 5.9 6.0 6.3 5.8 5.8

Tennessee

5.9 5.8 5.6 6.2 5.5 5.0 5.5 5.7 5.5 4.9

Texas

6.0 5.8 5.7 5.7 5.4 5.1 5.4 5.5 5.2 5.1

Utah

7.0 6.9 6.9 6.6 6.7 6.3 6.4 6.6 6.5 6.0

Vermont

8.4 7.4 6.4 7.3 7.2 6.0 7.5 7.9 6.6 6.3

Virginia

6.2 6.1 5.9 5.9 5.7 5.2 5.9 6.0 5.5 5.2

Washington

6.6 6.1 5.8 6.0 5.7 6.3 5.7 6.0 5.4 5.3

West Virginia

7.3 6.1 6.5 6.5 6.9 5.5 6.4 6.6 5.8 5.7

Wisconsin

6.1 5.6 5.2 5.5 5.5 4.8 5.8 5.8 5.2 4.8

Wyoming

9.0 8.4 8.3 8.9 8.4 7.8 8.7 8.2 8.4 8.3

Puerto Rico

5.1 5.9 5.7 4.9 5.4 5.8 5.0 5.3 4.8 4.6

Virgin Islands

7.9 7.5 8.2 6.0 5.6 7.4 6.5 6.8 5.9 4.5