COLUMBIA, S.C. - South Carolina's jobless rate
jumped sharply to 7.1 percent in October, but experts say that is
not necessarily bad news.
The state actually created 3,700 jobs during October, the third
month in a row South Carolina had more jobs, according to economic
figures.
"There's simply more people looking for a job who were not in the
labor force before," University of South Carolina economist Don
Schunk said Friday.
In other words, people who gave up on finding work over the past
few years when the economy was doing worse have decided things have
improved enough to start looking for a job again, Schunk said.
The joblessness rate jumped from 6.4 percent in September to 7.1
percent in October - the highest rate since March 1994 when
unemployment was at 7.2 percent, the Employment Security Commission
said Friday.
"Unemployment may have jumped quite a bit, but I'm feeling better
about the state economy now than I did last month," Schunk said.
Commission director Roosevelt "Ted" Halley also expects this to
be just a short-term blip.
"As retailers accelerate their hiring for the holiday season and
the overall economy continues to improve, many of these job seekers
should be able to find that job opportunities will increase," Halley
said.
The higher numbers might also indicate people trying to get a
jump on finding holiday season jobs, Halley said.
Marlboro County had the highest jobless rate in October, at 19.4
percent, followed by Marion County at 17.8 percent.
Beaufort County had the lowest rate at 3.3 percent, followed by
Lexington County at 3.4 percent. The county jobless figures are not
adjusted for seasonal factors.
"Today's news of a sharp rise in South Carolina's unemployment
rate is a reminder that Carolina families continue to suffer because
of this president's economic policies, especially for manufacturing
and textile jobs," said Democratic presidential hopeful John
Edwards.
Gov. Mark Sanford said the uptick in unemployment shows why the
state needs his economic plan.
Sanford has proposed raising the tax on cigarettes from 7 cents
per pack to 68 cents a pack, adding the 5 percent sales tax to the
cost of lottery tickets, and cutting state income tax rates from 7
percent to 5.9 percent.
"If there were any doubt job-creating tax reform is long-overdue
in South Carolina, these numbers should go a long way toward
continuing to erase it," Sanford said Friday in a
statement.