The Anderson County unemployment rate has dropped to 2.7 percent.
According to new data released by the SC Department of Employment & Workforce, 89,383 Anderson County residents were employed as of November.
“One year ago, almost 4,500 of our friends and neighbors were unemployed due to the results of the pandemic” said County Council Chairman Tommy Dunn. “I am thankful to announce today that number has declined by almost 50 percent. This stands as testimony to the resiliency of our local economy and, most especially, our people.”
The county’s 2.7% unemployment rate represents a decrease from the 2.9% recorded in October and is the lowest rate observed since the onset of economic disruptions related to the pandemic. By way of comparison, the county’s unemployment rate peaked at 11.8% in May 2020.
The unemployment rate for the state of South Carolina in November was reported at 3.7 percent.The resiliency in the local economy can be attributed in large part to the county’s ongoing commitment to economic development efforts.
Despite the lingering effects of the pandemic, in 2021 Anderson County announced new and expanded economic development projects representing more than $350 million in capital investment and creation of 1,100 new jobs. Anderson County also worked to spur activity in the travel and tourism sector, most significantly through hosting events at Green Pond Landing.
During 2021, tournaments staged at Green Pond attracted more than 1,450 boats and 6,000 spectators, resulting in a local economic impact in excess of five million dollars.
The decade from 2010 to 2020 began and ended with significant nationwide economic distress; however, three data points of interest recently released by the US Federal Reserve serve to highlight gains in the economic health of the Anderson community:
⦁ Adjusted for inflation, the Gross Domestic Product for Private, Goods-Producing industries in Anderson County increased by 35 percent, rising from $1.49 billion in 2010 to $2.01 billion in 2020.
⦁ Median household income increased by 36 percent, from $38,851 in 2010 to $52,667 in 2020.
⦁ Over the course of the decade, the number of children living in poverty in our community dropped by one-third, and the total number of persons living in poverty declined by almost twenty percent.