South Carolina gets another weak job report

South Carolina gets another weak job report

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Resurrection Tourism economy The South Carolina economy failed to significantly expand jobs in May, but the numbers were slightly better than last month. Still, Palmetto is far behind the rest in terms of the relative size of its workforce. This important indicator is tied to the fourth worst country in the country.

by data Announced this week by the US Bureau of Labor Statistics (BLS), Total 2,388,088 South Carolina was part of the workforce last month – 6,727 People from last month..

The increase is 0.1 percent State Labor Participation – This measures the percentage of paid employees of working age in South Carolina.This metric is 57.1% May – Connected with Alabama for the fourth worst reading in the country.

Kentucky only (56.6%), Mississippi (56 percent) And West Virginia (55.3%) The ratio of the labor force to the working age population was small …

Why is this news agency tracking labor force more closely than the widely-watched unemployment rate?Easy: Unlike the latter indicator, it only tracks worker segments within Labor Force – Labor Participation Rate The size of the workforce itself.. This allows us to show much more accurately how well people are employed … or not..

For those who care about the unemployment rate, it fell 0.4 percent Last month – from 5 percent To 4.6%..

South Carolina’s slump in labor force participation and its Anemia income level – There is new debate about whether state “Republican” leaders are making wise policy decisions about promoting Palmett’s economic development.

For the last 20 years, the Republican approach has been Grow the government Choose billions of dollars of subsidies that distort the market at an obscene level Recipient of corporate welfare..

Is this approach working? Number …

Under the former governor Nikki HaleySouth Carolina Labor Participation Peaked 60.3% Between May and September 2011 – But the national tax rate ( 64 percent And 64.2% During that period). Prices fell in May 2012 60 percent – Since then, it has remained below this important border.

In contrast, labor participation reached its highest level 68.5% Early 1990s – Just around that time the so-called “RepublicanWas in control of the state government.

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Economist at the University of South Carolina last fall Joseph von Nessen “South Carolina must begin to rethink its approach to economic development,” he said at a meeting of business leaders. It focuses on “convincing workers to live in South Carolina” rather than hiring companies.

Meanwhile, an economist Rebecca Gunlaugson How did you do some great work to emphasize Anti-competitive tax environment It curbed economic expansion at the local government level and helped individuals and existing businesses with exorbitant tax burdens.

Is she correct in her rating? Okay …

But once again, lawmakers couldn’t listen to these calls … their doubling Crony capitalist approach..

The tax reform mantra Seized Over the last few weeks by upstate businessmen John Warren, Those who are likely to challenge the governor of maintaining the status quo Henry McMaster For the Republican Governor nomination next spring. Hopefully, Warren will continue to move the story forward as he strengthens his political activities. After all, the state is desperate for someone who is willing to shed light on the chronic failure of the current administration and its legislative allies when it comes to protecting the small businesses and individual income earners that drive the state’s economic growth. Need for

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About the author …

(Via: FITS News)

Wilforks The founding editor of the news agency you are currently reading. Prior to founding FITS News, he was a spokesman for the Governor of South Carolina, and before that he was a bassist and dive bar bouncer. He lives in the Midlands area of ​​the state with his wife and seven children. And yes, he has a lot of hats (including the Senator Washington lid in the photo above).

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