South Carolina Q2, 2019 Employment Statistics- 139,013 employers, up 5.7% from 131,566
- 2,137,664 employees, up 1.4% from 2,108,103
- $867 average weekly wage, up 3.7% from $836
- The average weekly wage is 20.8% 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 7,447, which is an increase of 5.7%. The number of employees in South Carolina increased by 29,560, an increase of 1.4%. During this same period, the average weekly wage increased by $31, an increase of 3.7%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 7,429 or 5.8%. Growth in private businesses in South Carolina grew faster than the national average of 2.9%. The number of employees in these businesses increased since last years' Q1, increasing by 26,880 or 1.5%. The growth in employees of private businesses in South Carolina was faster than the national average of 1.4%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $34 or 4.2%. 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 13.8% of the businesses in the state. The number of businesses in this sector increased by 8.6%. Retail trade (13.0%), which increased by 1.7% and Construction (9.2%), which increased by 5.9%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Utilities | 56 | 17.3% |
| Information | 319 | 12.7% |
| Company management | 115 | 12.6% |
| Educational services | 158 | 10.4% |
| Real estate and rental | 528 | 9.3% |
| Professional services | 1,514 | 8.6% |
| Waste services | 636 | 7.8% |
| Transport and warehousing | 241 | 7.2% |
| Mining and oil extraction | 9 | 7.2% |
| Arts and entertainment | 123 | 6.2% |
| Construction | 710 | 5.9% |
| Finance and insurance | 429 | 5.8% |
| Healthcare | 586 | 5.7% |
| Other services | 652 | 5.7% |
| Manufacturing | 286 | 4.7% |
| Agriculture and forestry | 49 | 4.2% |
| Wholesale trade | 345 | 4.1% |
| Accommodation and food services | 378 | 3.5% |
| Retail trade | 295 | 1.7% |
Employees by Sector
The sector with the greatest number of employees in the state is Manufacturing with 12.1% of the employees in the state, had an increase in employees of 3.7% in the last year. Retail trade (11.7%), decreased by 0.4% and Accommodation and food services (11.4%), increased by 1.2%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Company management | 3,917 | 18.4% |
| Mining and oil extraction | 145 | 8.4% |
| Transport and warehousing | 2,976 | 4.5% |
| Arts and entertainment | 1,427 | 4.2% |
| Manufacturing | 9,286 | 3.7% |
| Real estate and rental | 613 | 1.9% |
| Healthcare | 4,004 | 1.9% |
| Educational services | 345 | 1.4% |
| Accommodation and food services | 2,734 | 1.2% |
| Waste services | 1,868 | 1.1% |
| Wholesale trade | 794 | 1.1% |
| Other services | 482 | 0.9% |
| Professional services | 542 | 0.5% |
| Construction | 327 | 0.3% |
| Finance and insurance | -151 | -0.2% |
| Retail trade | -978 | -0.4% |
| Information | -566 | -2.0% |
| Agriculture and forestry | -357 | -3.0% |
| Utilities | -529 | -4.4% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Utilities paying $1,661per week compared with the state average of $851. Weekly wages in this sector rose by $52 or 3.2%. Company management ($1,529), rose by $46 or 3.1% and Mining and oil extraction ($1,510) increased by $309 or 25.7% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Mining and oil extraction | $309 | 25.7% |
| Information | $81 | 7.0% |
| Wholesale trade | $72 | 5.8% |
| Other services | $32 | 5.2% |
| Professional services | $65 | 5.1% |
| Accommodation and food services | $17 | 5.0% |
| Real estate and rental | $40 | 4.8% |
| Arts and entertainment | $15 | 4.2% |
| Waste services | $25 | 3.9% |
| Manufacturing | $43 | 3.9% |
| Construction | $38 | 3.9% |
| Retail trade | $18 | 3.4% |
| Utilities | $52 | 3.2% |
| Company management | $46 | 3.1% |
| Healthcare | $24 | 2.7% |
| Transport and warehousing | $19 | 2.3% |
| Finance and insurance | $27 | 2.2% |
| Agriculture and forestry | $12 | 1.8% |
| Educational services | $-1 | -0.1% |
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 8,929 employing 192,155 workers). The Restaurants and other eating places industry had 250 more businesses, an increase of 2.9% in the last year. Private households (3.0% of businesses) added 270 businesses, an increase of 6.9% and Computer systems design and related services (2.8% of businesses) added 508 businesses, an increase of 15.0% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Trusts estates and agency accounts | 26 | 123.8% |
| Open-end investment funds | 8 | 100.0% |
| Satellite telecommunications | 6 | 85.7% |
| Pension funds | 6 | 85.7% |
| Other gasoline stations | 57 | 83.8% |
| Other leather product manufacturing | 10 | 58.8% |
| Monetary authorities - central bank | 16 | 57.1% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Computer systems design and related services | 508 | 15.0% |
| Management consulting services | 322 | 10.7% |
| Private households | 270 | 6.9% |
| Restaurants and other eating places | 250 | 2.9% |
| Residential building construction | 159 | 6.5% |
| Other activities related to real estate | 145 | 31.4% |
| Offices of real estate agents and brokers | 136 | 6.4% |
Employees by Industry
Private households (3.0% of employees) added 270 employees, an increase of 6.9% and Computer systems design and related services (2.8% ofemployees) added 508 employees, an increase of 15.0% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Pension funds | 25 | 277.8% |
| Health and welfare funds | 20 | 178.8% |
| Trusts estates and agency accounts | 31 | 148.4% |
| Political organizations | 49 | 145.5% |
| Other leather product manufacturing | 45 | 91.7% |
| Monetary authorities - central bank | 24 | 61.4% |
| Motion picture and video production | 555 | 58.6% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Management of companies and enterprises | 3,917 | 18.4% |
| Commercial banking | 2,166 | 14.5% |
| Automobile and light truck manufacturing | 2,040 | 20.3% |
| Employment placement and executive search | 1,570 | 40.6% |
| Temporary help services | 1,401 | 2.0% |
| Computer systems design and related services | 1,325 | 8.1% |
| Pharmaceutical and medicine manufacturing | 1,244 | 32.4% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Commodity contracts brokerage, paying $10,677 compared with the state average of $851. Employees in the Commodity contracts brokerage industry were paid $9,119 more per week, an increase of 585.3% in the last year. Investment banking and securities dealing ($3,026) and Securities brokerage ($2,603) round out the top 3 industries. Employees in the Investment banking and securities dealing ($3,026 per week) were paid $178 less per week, a decline of 5.6% and Securities brokerage ($2,603 per week) were paid $46 less per week, a decline of 1.7% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Commodity contracts brokerage | $9,119 | 585.3% |
| Other insurance funds | $1,029 | 190.9% |
| Open-end investment funds | $839 | 105.4% |
| Coffee and tea manufacturing | $418 | 62.3% |
| Food crops grown under cover | $262 | 60.1% |
| Motion picture and video production | $407 | 51.3% |
| Stone mining and quarrying | $557 | 46.0% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Commodity contracts brokerage | $9,119 | 585.3% |
| Other insurance funds | $1,029 | 190.9% |
| Open-end investment funds | $839 | 105.4% |
| Stone mining and quarrying | $557 | 46.0% |
| Advertising material distribution services | $479 | 44.4% |
| Druggists' goods merchant wholesalers | $449 | 27.8% |
| Trusts estates and agency accounts | $433 | 34.3% |
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 92.4%. (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 | 8,929 | 2.9% |
| Private households | 4,203 | 6.9% |
| Computer systems design and related services | 3,897 | 15.0% |
| Management consulting services | 3,324 | 10.7% |
| Wholesale trade agents and brokers | 2,872 | 3.5% |
| Offices of lawyers | 2,660 | 2.3% |
| Residential building construction | 2,600 | 6.5% |
| Offices of physicians | 2,428 | 4.8% |
| Insurance agencies and brokerages | 2,253 | 5.2% |
| Offices of real estate agents and brokers | 2,249 | 6.4% |
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 | 192,155 | 0.4% |
| Temporary help services | 70,626 | 2.0% |
| General merchandise stores including warehouse clubs and supercenters | 41,439 | -1.4% |
| Offices of physicians | 40,999 | 2.9% |
| Supermarkets and other grocery stores | 40,531 | 0.6% |
| General medical and surgical hospitals | 32,480 | -5.9% |
| Hotels and motels except casino hotels | 32,460 | 3.4% |
| Management of companies and enterprises | 25,265 | 18.4% |
| General warehousing and storage | 20,876 | 4.4% |
| Nursing care facilities skilled nursing | 19,232 | 3.7% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Commodity contracts brokerage | $10,677 | 585.3% |
| Investment banking and securities dealing | $3,026 | -5.6% |
| Securities brokerage | $2,603 | -1.7% |
| Health and welfare funds | $2,415 | -57.3% |
| Other financial vehicles | $2,263 | -33.5% |
| Petroleum refineries | $2,232 | 10.9% |
| Credit bureaus | $2,187 | 14.9% |
| Commodity contracts dealing | $2,149 | 2.3% |
| Investment advice | $2,117 | -8.6% |
| Computer and software merchant wholesalers | $2,077 | 3.4% |
Data Sources
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