SC debt rating would stir more politics than cost
The threat that South Carolina could lose a top credit agency rating is more about image and politics than the practical problems of paying more to borrow.
On Tuesday, Moody's Investor Service warned that if the federal government didn't deal with raising the nation's $14.7 trillion debt limit and defaulted, it would likely lower its AAA ratings for five states: Maryland, New Mexico, South Carolina, Tennessee and Virginia.
All the worry Moody's stirred may evaporate in a day or two, said Arturo Perez, a fiscal analyst with the National Conference of State Legislatures in Denver.
"It may be all moot if tomorrow there is some agreement in D.C.," Perez said Wednesday.
Top ratings are gold standards for states when they issue bonds for everything from building roads and schools to, in South Carolina's case, industrial facilities such as the one Boeing Co. is using to assemble jets.
Only eight states -- including Delaware, Georgia, Maryland and Virginia -- have top bond ratings for their taxpayer-covered, general obligation bonds from Moody's, Standard & Poor's Co. and Fitch Ratings.
That top rating saves South Carolina some money when it borrows, but the number is not huge. The difference between the cost to borrow money for a top-rated state and one a notch below is small -- about 0.15 percent now. That would add about $75,000 to the annual interest payment tab on $50 million in bonds, or slightly more than $1 million over 15 years.
South Carolina hasn't been in the league of top ratings from all three rating agencies for years.
In July 2005, Standard and Poor's dropped its AAA rating a notch to AA-plus.
At the time, S&P cited a $1 billion price tag for an income tax break that then-Gov. Mark Sanford pushed, unemployment rates that were among the nation's highest and how the state handles existing debt.
Although Republicans controlled the Legislature and eight of nine top offices, they laid the blame on the state's treasurer, a Democrat. He lost his re-election bid the next year.
Nonetheless, investors continued to consider the Palmetto State's debt a good risk and financed bonds at lower interest rates.
On Wednesday, Loftis said his office has a long history of maintaining strong relationships with the three major credit rating firms, meaning the state can get the best rates when it has to borrow money. "The federal debt situation will have a ripple affect across all 50 states if Congress does not act to balance the budget and stop spending far more than it takes in," Loftis said.
South Carolina Unemployment Office - News
Nikki Haley's Department of Employment and Workforce (SCDEW), South Carolina's unemployment rate jumped from 10 percent in May to 10.5 percent in June. The state's underemployment rate – a broader, more accurate measure of joblessness – is also
A reduction in those payments would blow holes in South Carolina's budget. The state's unemployment rate -- 10 percent in May -- remained among the nation's highest. Meanwhile, the state's 17 percent poverty rate is well above the nation's 14 percent.
By AP | July 17, 2011 COLUMBIA, SC (AP) — South Carolina Republican Gov. Nikki Haley is boasting about job numbers in speeches and interviews, repeatedly saying she's thrilled about the 10000 jobs announced since she took office in January.
A reduction in those payments would blow holes in South Carolina's budget. The state's unemployment rate — 10 percent in May — remained among the nation's highest. Meanwhile, the state's 17 percent poverty rate is well above the nation's 14 percent.
"Business is good," Chief Executive Office Jeff Immelt told reporters in Greenville, South Carolina, last week. "You have this backdrop of tremendous demand." That tremendous demand is largely coming from key emerging markets such as China,
SC gov using inflated job list in employment boast : News ...
COLUMBIA, S.C. (AP) - South Carolina Republican Gov. Nikki Haley is touting state job numbers, repeatedly saying she's thrilled about the 10,000 jobs announced since she took office. But there's a little more to the story.
Some employers are hiring this year, but thousands of those jobs won't come online for years. And the governor's boast includes hundreds of jobs with Amazon.com that she actually fought.
Plus, after repeated questions from The Associated Press, t he Haley administration changed its tally several times before dropping it to 9,000 jobs; 4,000 of those are with Wal-Mart.
To be sure, the six-month tally is encouraging for a state long suffering with high unemployment. And the head of the state manufacturers association says he's pleased with Haley's recruiting.
The governor's office says it is not being misleading. Haley says she is working on bringing more jobs to rural areas.
(Copyright 2011 by The Associated Press. All Rights Reserved.
South Carolina Unemployment Office - Bookshelf
Employment and unemployment series ...
The work begun by South Carolina has been copied in large measure and expanded by ... to the work of an employment office for farm help already created. ...Code of laws of South Carolina, 1976, annotated, containing permanent public statutes of general application to the end of the 1975 Legislative session : prepared under the supervision of the Legislative Council and Code Commissioner and adopted as the official code of the State by the 1977 session of the General Assembly
Public Employment Office. The term "public employment office" as used in the South Carolina Unemployment Compensation Law with respect to the payment of ...Employment service statistics
414 Barbosa Avenue, Hato Rey 00923 RHODE ISLAND Department of Employment Security, 24 Mason Street, Providence 02903 SOUTH CAROLINA Employment Security ...The conscience of the court, selected opinions of Justice William J. Brennan, Jr. on freedom and equality
The appellee Employment Security Commission, in administrative ... That court's judgment was in turn affirmed by the South Carolina Supreme Court, ...Industrial employment information bulletin
Slow but substantial improvement is looked for. South Carolina. General. — Textile mills carrying 13930 on their pay rolls show an increase in employment ...Day-by-day Articles Directory
South Carolina Department of Employment and Workforce
Contains unemployment insurance information for employers, job search resources, and more.
South Carolina Unemployment Insurance, Compensation Answers ...
South Carolina Unemployment insurance, compensation and benefits information. Answers on layoffs, filing unemployment and job search. SC State Unemployment Office ...
Our Offices
Columbia, South Carolina 29202. Get directions to our main campus! ... Workshops to Help Local, State Agencies Learn Ways to Minimize Unemployment Costs ...
south carolina unemployment office, unemploymentoffice.net
unemploymentoffice.net: south carolinaunemployment office, directory usa, america ... South Carolina. How Do I File for Unemployment Insurance? If you meet certain legal ...
South Carolina Unemployment Office | SCES Online
The South Carolina SC Unemployment Office offers online and phone in application for unemployment claims. The best way to get the service that you ...