Lexington County Phenomenon: Jobs Increase, Income Doesn’t

After mild growth in 2012, economists at the Economic Outlook Conference said that 2013 looked promising for the state as the upside potential for greatness played against the downside risks.

Economists Doug Woodward, Joseph Von Nessen and John Connaughton delivered similar — promising — messages concerning the financial forecast for 2013. 

In 2012, the number of jobs in South Carolina grew by 1.8 percent. 

Two areas where the job increase hasn’t translated into higher per capita income are Lexington and Greenville Counties: both areas with strong contract and temporary workers who enter and exit the employment field rapidly and create a varying flux in the unemployment rate, Connaughtin said.

Military sequestration — a $1.2 trillion cut from military spending — is expected to hit Richland County hardest with the number of state jobs and Fort Jackson, Connaughton said.

Despite the grim outlook for rural areas and the state capital, the state boasts a momentum expected to carry over into 2013.

In 2012, the state saw a six percent increase in temporary and contract work, and a relatively strong growth from manufacturing, education, leisure and hospitality, and the housing market in 2012, Von Nessen said.

Strongly bolstered by manufacturing jobs, the state job creation is expected to grow 1.2 percent in 2013.

“South Carolina ranks highest in site selection and is getting attention from national and international manufacturers,” Woodward said. 

Gov. Nikki Haley’s overseas travels were not overlooked. Her attention to the European and other international markets have resulted in a strategic focus for growth previously unseen, Woodward said.

The Charleston market continues to thrive with the manufacturing markets like Boeing.

Also, coastline tourism industries — hospitality and leisure — added to the 2012 success in South Carolina, Von Nessen said.