Economic Momentum

Economic recovery in the charleston region has outpaced the nation

PRE-PANDEMIC AND CURRENT UNEMPLOYMENT BY SECTOR

Economic recovery in the Charleston region has outpaced the nation

Unemployment in the Charleston region is regularly below national average.

Sources: BLS, EMSI, SB Friedman

WAGES IN OCCUPATIONS WITH THE MOST JOB POSTINGS

A quick recovery has led to labor market shortages; increasing focus on wages

High employment occupations – those with more than 1,000 jobs in the region – that have the highest number of job openings are all within service and retail sectors. The majority of these high-turnover positions also report earnings below the median hourly wage of $19 per hour.

Sources: EMSI, SB Friedman
Note: Chart displays high-employment occupations (> 1,000 employees) with a job posting to job count ratio over 18%

Businesses experienced a wide range of pandemic-driven Impacts

41% of businesses reported they are slowly recovering. 57% of businesses reported having recovered, never been affected, or grown

Source: One Region Roadmap 2021 Household & Business Survey, SB Friedman