In November, South Carolina's jobless rate fell to 9.9 percent from from the previous month's reading of 10.5 percent, and company plans for aviation staffing could push this number down even further.
This 0.6 percent drop was the largest monthly plunge since the Bureau of Labor Statistics began providing monthly readings in 1976, according to WPDE News. Between October and November, the number of people who are unemployed dropped by 14,527 and the number of people employed grew by 9,777. The number of people employed in manufacturing increased by 900 during the period and experienced a year-over-year increase of 10,800.
The South Carolina Department of Employment and Workforce released a statement which quoted executive director Abraham Turner as saying that "through the efforts of the businesses in our state who have hired more South Carolinians, we have seen a significant decrease in the unemployment rate."
Turner added that "we want to partner with employers to help train the state’s workforce because we know that training is the most important component in providing businesses with a skilled and productive labor force. Through a partnership of this kind, I am optimistic that job growth will continue in the coming months."
An aviation maintenance and repair company announced expansion plans on December 29, which include the firm hiring 150 people, according to The Sun News. In addition to hiring additional staff, the company will invest around $1 million into the new lease and needed equipment.
Brad Lofton, the CEO of the Myrtle Beach Regional Economic Development Corp. (EDC), which has the purpose of creating jobs in Horry County, has stated that the new positions will pay higher wages than existing jobs, the media outlet reports. Lofton has predicted that this new influx of higher-paying jobs will help to put upward pressure on average wages.
He also stated that the job creation announcement should help provide the county with lots of visibility, particularly in terms of positive news surrounding aviation, according to the media outlet.
He added that "it just gives us more momentum and credibility that we are becoming an emerging hub for aviation-related jobs."
The media outlet reports that Horry County approved $100,000 in incentive money that the company can collect based upon it fulfilling certain conditions. As long as the company contributes to aviation staffing by adding 150 jobs within a three-to-five-year window, it can claim the funds.