Santee-Lynches Economic Forecast Presented by: Santee-Lynches Regional COG & The BB&T Center for Economic and Community Development at Coastal Carolina University
SC Total Employment Jan 1990 – March 2009 June 2000: 1,883,300 jobs March 2009: 1,853,300 jobs
SC Total Employment: Annual Job Growth Jan 1939 – March 2009 March 2009: -4.9%
Unemployment Rates Jan – March 2009
S.C. Unemployment Indicators Jan – March 2009
A Few Key Sectors in South Carolina 2008Q1 – 2009Q1: SC lost 83 thousand jobs –Manufacturing: -22,000 –Leisure & Hospitality: -14,000 –Retail Trade: -14,000 –Construction: -10,000 (-19,000 since 2007Q1) These sectors ~ 40% of all jobs These + Govt. ~ 60% of all jobs
S.C. Labor Market Indicators 1976Q1 – 2010Q4
Gross Retail Sales ($ billions)
Total Employment (thousands)
Labor Force (thousands)
Unemployment Rate (percent)
Historical Unemployment Rates
-7,606 manufacturing job losses from rdQ ‘08 for region. Source: Quarterly Census of Employment and Wages (QCEW)
+2,010 non-manufacturing job gains from rdQ ’08 for region. Source: Quarterly Census of Employment and Wages (QCEW)
Whole body of 8 th graders through the years 65% - 70% are graduating high school with a diploma over time in region. High School Years Public high school graduation rates in region Current region average of 65% to 70% is about equal to state average. U.S. average is about 72% in recent years. Source: S.C. Department of Education enrollment and diploma data
Source: U.S. Census Bureau
Single Family Building Permits (# of permits)
Single Family Permits Value ($millions)
Manufactured/Mobile Home Permits (# of permits)
Nonresidential Building Permits (# of permits)
Nonresidential Permit Value ($millions)
GDP Growth Rate (percent)
CPI Inflation Rate (percent)
Prime Rate (percent)
30-Year Conventional Mortgage Rate (percent)
3-Month Treasury Rate (percent)
10-Year Treasury Rate (percent)
South Carolina Total Employment (millions)
South Carolina Unemployment Rate (percent)