July 17, 2009
COLUMBIA, S.C. (AP) -- South Carolina's unemployment is poised to set another record high.
Coastal Carolina University economist Don Schunk says he expects the state's jobless rate to come in around 12.3 percent when the Employment Security Commission announces its data Friday.
That would mark South Carolina's third record month in a row. In May, the jobless rate was 12.1 percent, the nation's third highest behind Michigan and Oregon. April's rate was 11.4
The announcement of the new jobless rate will likely mark the second day in a row of bad economic news for South Carolina.
On Thursday, the Board of Economic Advisors cut more than $200 million from a state forecast for tax collections. That's on top of a $120 million cut the panel announced last month, for the budget year that began July 1.
(Copyright 2009 by The Associated Press. All Rights Reserved.)