South Carolina Q4, 2019 Employment Statistics- 140,795 employers, up 3.9% from 135,446
- 2,142,650 employees, up 1.3% from 2,114,663
- $931 average weekly wage, up 4.0% from $895
- The average weekly wage is 21.4% below the national average
- The cost of living is 4.1% below the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 5,349, which is an increase of 3.9%. The number of employees in South Carolina increased by 27,987, an increase of 1.3%. During this same period, the average weekly wage increased by $36, an increase of 4.0%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 5,264 or 4.0%. Growth in private businesses in South Carolina grew faster than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 19,560 or 1.1%. The growth in employees of private businesses in South Carolina was slower than the national average of 1.2%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $35 or 4.0%. Growth in average weekly wage of employees of private businesses in South Carolina grew faster than the national average of 3.8%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Professional services with 13.9% of the businesses in the state. The number of businesses in this sector increased by 5.5%. Retail trade (12.8%), which increased by 0.9% and Construction (9.1%), which increased by 3.3%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Utilities | 53 | 15.6% |
| Company management | 108 | 11.1% |
| Information | 264 | 9.9% |
| Educational services | 133 | 8.4% |
| Real estate and rental | 350 | 5.8% |
| Professional services | 1,015 | 5.5% |
| Other services | 610 | 5.3% |
| Finance and insurance | 388 | 5.1% |
| Transport and warehousing | 157 | 4.5% |
| Waste services | 377 | 4.5% |
| Healthcare | 451 | 4.2% |
| Manufacturing | 252 | 4.1% |
| Arts and entertainment | 80 | 3.9% |
| Construction | 411 | 3.3% |
| Accommodation and food services | 289 | 2.6% |
| Agriculture and forestry | 27 | 2.3% |
| Wholesale trade | 138 | 1.6% |
| Retail trade | 159 | 0.9% |
| Mining and oil extraction | 1 | 0.7% |
Employees by Sector
The sector with the greatest number of employees in the state is Manufacturing with 12.0% of the employees in the state, had an increase in employees of 1.7% in the last year. Retail trade (11.9%), decreased by 0.2% and Accommodation and food services (10.9%), increased by 2.2%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Company management | 3,429 | 15.8% |
| Mining and oil extraction | 177 | 10.0% |
| Transport and warehousing | 3,103 | 4.5% |
| Arts and entertainment | 1,266 | 4.2% |
| Other services | 1,494 | 2.8% |
| Educational services | 688 | 2.6% |
| Construction | 2,328 | 2.2% |
| Accommodation and food services | 5,023 | 2.2% |
| Real estate and rental | 641 | 2.1% |
| Manufacturing | 4,239 | 1.7% |
| Finance and insurance | 976 | 1.4% |
| Wholesale trade | 714 | 1.0% |
| Healthcare | 1,408 | 0.7% |
| Retail trade | -518 | -0.2% |
| Professional services | -566 | -0.6% |
| Waste services | -2,376 | -1.4% |
| Agriculture and forestry | -173 | -1.6% |
| Utilities | -452 | -3.8% |
| Information | -1,843 | -6.6% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Utilities paying $1,757per week compared with the state average of $920. Weekly wages in this sector declined by $4 or 0.2%. Company management ($1,684), rose by $96 or 6.0% and Professional services ($1,576) increased by $85 or 5.7% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Information | $93 | 7.6% |
| Mining and oil extraction | $80 | 6.2% |
| Finance and insurance | $79 | 6.1% |
| Company management | $96 | 6.0% |
| Arts and entertainment | $24 | 5.7% |
| Professional services | $85 | 5.7% |
| Agriculture and forestry | $43 | 5.7% |
| Real estate and rental | $53 | 5.6% |
| Construction | $53 | 4.8% |
| Accommodation and food services | $16 | 4.6% |
| Other services | $28 | 4.2% |
| Healthcare | $38 | 3.9% |
| Transport and warehousing | $32 | 3.7% |
| Wholesale trade | $51 | 3.7% |
| Retail trade | $20 | 3.7% |
| Waste services | $19 | 2.8% |
| Manufacturing | $21 | 1.8% |
| Educational services | $-1 | -0.1% |
| Utilities | $-4 | -0.2% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In South Carolina. the industry with the most businesses is Restaurants and other eating places with 6.4% of the businesses in the state (with 9,041 employing 184,783 workers). The Restaurants and other eating places industry had 219 more businesses, an increase of 2.5% in the last year. Private households (3.0% of businesses) added 305 businesses, an increase of 7.7% and Computer systems design and related services (2.9% of businesses) added 388 businesses, an increase of 10.6% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Pension funds | 11 | 157.1% |
| Trusts estates and agency accounts | 42 | 144.8% |
| Motor vehicle metal stamping | 4 | 66.7% |
| Cable and other subscription programming | 6 | 66.7% |
| Open-end investment funds | 7 | 63.6% |
| News syndicates | 4 | 50.0% |
| Business and secretarial schools | 1 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Computer systems design and related services | 388 | 10.6% |
| Private households | 305 | 7.7% |
| Management consulting services | 220 | 6.9% |
| Restaurants and other eating places | 219 | 2.5% |
| Other activities related to real estate | 116 | 20.8% |
| Commercial banking | 114 | 11.5% |
| Management of companies and enterprises | 108 | 11.1% |
Employees by Industry
Private households (3.0% of employees) added 305 employees, an increase of 7.7% and Computer systems design and related services (2.9% ofemployees) added 388 employees, an increase of 10.6% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Political organizations | 249 | 488.6% |
| Pension funds | 28 | 236.1% |
| Mortgage and nonmortgage loan brokers | 780 | 167.5% |
| Audio and video equipment manufacturing | 121 | 103.8% |
| Nonchocolate confectionery manufacturing | 62 | 91.6% |
| Trusts estates and agency accounts | 21 | 77.4% |
| Motion picture and video distribution | 5 | 59.3% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Management of companies and enterprises | 3,429 | 15.8% |
| Restaurants and other eating places | 3,180 | 1.7% |
| Commercial banking | 2,114 | 14.1% |
| Computer systems design and related services | 1,460 | 8.8% |
| Automobile and light truck manufacturing | 1,351 | 12.0% |
| Industrial building construction | 1,298 | 23.8% |
| Hotels and motels except casino hotels | 1,089 | 3.7% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Petroleum refineries, paying $3,845 compared with the state average of $920. Employees in the Petroleum refineries industry were paid $1,567 more per week, an increase of 68.8% in the last year. Commodity contracts brokerage ($3,764) and Investment banking and securities dealing ($3,741) round out the top 3 industries. Employees in the Commodity contracts brokerage ($3,764 per week) were paid $172 more per week, an increase of 4.8% and Investment banking and securities dealing ($3,741 per week) were paid $471 more per week, an increase of 14.4% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Other financial vehicles | $2,189 | 145.5% |
| Sound recording studios | $772 | 102.3% |
| Petroleum refineries | $1,567 | 68.8% |
| Trusts estates and agency accounts | $1,062 | 67.0% |
| Industrial design services | $644 | 55.0% |
| Independent artists writers and performers | $1,142 | 47.0% |
| Other telecommunications | $791 | 46.7% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Other financial vehicles | $2,189 | 145.5% |
| Petroleum refineries | $1,567 | 68.8% |
| Independent artists writers and performers | $1,142 | 47.0% |
| Trusts estates and agency accounts | $1,062 | 67.0% |
| Other telecommunications | $791 | 46.7% |
| Sound recording studios | $772 | 102.3% |
| Commodity contracts dealing | $673 | 29.0% |
Company Size
South Carolina Businesses by Size
The solopreneur company, has the most businesses in South Carolina by far. 60.6% of all businesses in the state have fewer than 5 employees. The 127,831 small businesses in the state represent 95.3% of all private businesses. The national average is 91.2%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) South Carolina added 4,671 businesses in the last year, an increase of 3.6% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 4,493 businesses in the last year, which is an increase of 3.6% as compared to the national average of 3.1%.
Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 168 businesses in the last year, which is an increase of 2.8% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 10 businesses in the last year, which is an increase of 4.1% as compared to the national average of 2.1%.
South Carolina Employees by Business Size
South Carolina added 122,883 employees in the last year, an increase of 7.6% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 61,818 businesses in the last year, which is an increase of 93.6% as compared to the national average of 4.2%.Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 38,374 employees in the last year, which is an increase of 5.8% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 22,691 employees in the last year, which is an increase of 9.4% as compared to the national average of 9.2%.
South Carolina Avg Weekly Wages by Business Size
The smallest companies in South Carolina (those with fewer than 5 employees) pay workers 6.8% more than the national average ($1,078 per week as compared to the national average of $1,005 per week). The largest companies in South Carolina (those with more than 1,000 employees) pay 41.8% workers below the national average ($1,349 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $106 per week in the last year, which is an increase of 3.2% as compared to the national average of 3.1%. Employees of mid-sized businesses added $111 in wages per week in the last year, which is an increase of 4.4% as compared to the national average of 1.3%.
Employees of large businesses added $52 of weekly wages in the last year, which is an increase of 2.2% as compared to the national average of 2.1%.
Top Industries for Business and Employment
The table below illustrates the largest industries in the state, by number of businesses:Table: Top 10 Industries by # of Businesses
| Industry | # Businesses | % Change |
|---|---|---|
| Restaurants and other eating places | 9,041 | 2.5% |
| Private households | 4,248 | 7.7% |
| Computer systems design and related services | 4,032 | 10.6% |
| Management consulting services | 3,419 | 6.9% |
| Wholesale trade agents and brokers | 2,831 | -0.9% |
| Offices of lawyers | 2,664 | 0.9% |
| Residential building construction | 2,632 | 3.5% |
| Offices of physicians | 2,462 | 4.1% |
| Offices of real estate agents and brokers | 2,314 | 3.9% |
| Insurance agencies and brokerages | 2,297 | 3.9% |
The table below illustrates the largest industries in the state, by number of employees:
Table: Top 10 Industries by # of Employees
| Industry | # Employees | % Change |
|---|---|---|
| Restaurants and other eating places | 184,783 | 1.7% |
| Temporary help services | 73,216 | -3.0% |
| General merchandise stores including warehouse clubs and supercenters | 41,872 | -2.0% |
| Offices of physicians | 41,612 | 2.1% |
| Supermarkets and other grocery stores | 41,164 | 0.5% |
| General medical and surgical hospitals | 31,064 | -10.8% |
| Hotels and motels except casino hotels | 30,221 | 3.7% |
| Management of companies and enterprises | 25,097 | 15.8% |
| General warehousing and storage | 21,398 | 4.4% |
| Nursing care facilities skilled nursing | 19,357 | 3.6% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Petroleum refineries | $3,845 | 68.8% |
| Commodity contracts brokerage | $3,764 | 4.8% |
| Investment banking and securities dealing | $3,741 | 14.4% |
| Other financial vehicles | $3,693 | 145.5% |
| Independent artists writers and performers | $3,574 | 47.0% |
| Commodity contracts dealing | $2,997 | 29.0% |
| Portfolio management | $2,889 | 10.1% |
| Securities brokerage | $2,885 | -5.3% |
| Computer and software merchant wholesalers | $2,733 | 8.8% |
| Trusts estates and agency accounts | $2,646 | 67.0% |
Data Sources
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