New monthly tool offers ‘barometer’ on South Carolina economy

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The S.C. Chamber of Commerce and Department of Employment and Workforce are launching a voluntary monthly survey called the Palmetto Business Barometer to better understand conditions the state’s employers are facing and inform the public about the state economy and workforce.

The survey measures business conditions and attitudes over time with an emphasis on workforce behaviors, according to a news release.

The S.C. Chamber will manage the survey and DEW will analyze the data to identify how business conditions, needs and expectations are changing, the release said.

The aggregated collected data will be published online, but individual responses will remain confidential.

The first round of the Palmetto Business Barometer survey went live on Monday, Jan. 9. Businesses will have two weeks to complete the brief 12-question survey before it closes on Sunday, Jan. 22. The survey will open again on Feb. 6 and will continue to open on the first full week of each month throughout the year for each new survey round.

“This survey is a great opportunity to hear directly from businesses on what challenges they are facing and what best practices work for them,” said DEW executive director Dan Ellzey. “By making the survey results public, we are helping employers compare notes as well as understand what others in the state are doing right that they can emulate and improve upon.”

The survey will help officials with both organizations to track trends and “advocate for real solutions based off clear data,” according to Will Frierson, vice president of government affairs for the S.C. Chamber.

“From surveying our membership alone, we know South Carolina businesses are facing many obstacles from rising costs to workforce shortages,” Frierson said in the release. “With economic uncertainty looming, we need to know what businesses are facing on the frontlines and how conditions are changing for better or for worse.”

Businesses of all sizes and industries are encouraged to participate in the survey. Access the January Palmetto Business Barometer survey here. For more information, contact communications@dew.sc.gov and payton.lang@scchamber.net.