The Palmetto State, a place of business

A curious upward lilt in job growth, huge net migration, and some big employers coming to South Carolina

• The Palmetto State stands out as a job maker

• Pandemic is over and people are still moving to Myrtle Beach . . . but why?

• It’s not just (or even primarily) beach houses anymore

• So what’s behind this hub of enterprise and commerce?

• It’s the American story, for better and for worse

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The Palmetto State, a new hope rises (sort of)

The Richmond Fed published some research about job growth a few weeks back and something odd jumped out.

One of these Fifth District States is not like the other:

Richmond Fed

South Carolina is running away from the pack with a health 3.7% yoy growth in payrolls.

Not bad for the Palmetto State.

Mostly, I didn’t think much of it at the time. Sure, job growth is important, especially now, and when Random Walk sees an outlier, it’s worth exploring. Who or what is “creating jobs,” who for, and of what kind, etc.

But, on the other hand, a single wiggle from a smallish state in the Fifth District is . . . just that. So, I let the not-so-sleepy Carolina lie.

That is, until I happened to come across this little report on domestic migration hotspots—a favorite topic for Random Walk—featuring none other than South Carolina (again, but this time with more feeling).

One data point is an inconsequential wiggle. Two data points is a trend.¹

So what’s going on, down there?

Oh Carolina, jump n’ prance