Unemployment Rates for February 2010 likely to hit 35% for Anderson,SC & 15% for Anderson County, SC

10 Year Unemployment Rates for Anderson, SC & Anderson County, SC

It looks like it will be a long, cold, hard winter in Anderson County, SC

“Unemployment near 30 percent in city of Anderson”
http://www.independentmail.com/news/2009/dec/01/unemployment-near-30-percent-city-anderson/

“According to figures provided by the Federal Bureau of Labor Statistics, Anderson’s preliminary unemployment rate in the city was 27.9 percent as of Sept. 30, while the county unemployment rate stood at 12.5 percent.

Since January, the city unemployment rate has averaged 27 percent, up 12 points over the 2008 average, and 15 points over the 2007 average.”

It will likely get worse.

In looking at BLS unemployment rate (UR) data for the City of Anderson and Anderson County, the Feb. 2010 UR is likely to hit 35% for Anderson and 15% for Anderson County.

This was determined from looking at UR data from 2000 through 2009; specifically, the percent change in the UR from the months of November to February, and December to February.  From December to January in the above graph, the slope of the UR consistently increases as it crosses the New Year’s Day line.

For the City of Anderson, the average UR increase from Nov. to Feb. is 35% and from Dec. to Feb. is 28%.

For the Anderson County, the average UR increase from Nov. to Feb. is 27% and from Dec. to Feb. is 22%.

The preliminary October 2009 UR for the city and county are 28.1% and 12.9%, respectively. The following, historical data suggests that the UR rates are likely to increase by approximately one-third (1/3) for Anderson city and one-fourth (1/4) for Anderson County between now and February:

Nov.-Feb. 200x UR change (%): Anderson City
200x
2001 117
2002 15
2003 7
2004 10
2005 17
2006 46
2007 8
2008 26
2009 66
AVERAGE UR% CHANGE – 35%

Dec.-Feb. 200x UR change (%): Anderson City
200x
2001 89
2002 13
2003 13
2004 12
2005 16
2006 51
2007 8
2008 14
2009 33
AVERAGE UR% CHANGE – 28%

Nov.-Feb. 200x UR change (%): Anderson County
200x
2001 119
2002 15
2003 6
2004 12
2005 17
2006 4
2007 0
2008 13
2009 56
AVERAGE UR% CHANGE – 27%
Dec.-Feb. 200x UR change (%): Anderson County
200x
2001 90
2002 13
2003 13
2004 13
2005 15
2006 7
2007 9
2008 7
2009 31
AVERAGE UR% CHANGE – 22%

Christmas shopping season will conclude and the extra retail workers will not be needed. Construction activity will slow during the dreary, winter weather. Tourism jobs take a winter break in Upstate South Carolina.

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