Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

S.C. econom despite Huge By CAREN CAMPBELL Staff Writer South Carolinians should set aside fears that their state's economy will crumble in the wake of Hurricane Hugo, data in the latest issue of "South Carolina Economic Indicators" reported. Despite this past September's storm, "November proved to be one of the best months for economic activity during 1989," according to the monthly report, which has been published by the USC College of Business Administration and the state Employment Security Commission since the mid-1970s. The report only indicates the amount of economic activity from month to month and does not show long-term effects, Brenda McDuffie, a labor market analyst with the state Employment Security Commission said. "The South Carolina Composite Index of Leading Indicators rose significantly (about three percent) to 96.7, and seven of the eight indicators increased," according to ;the report. ; "A major reason for the composite index's strength was the 45 ^percent decline in Initial Claims ;for Unemployment Insurance. ;Thus, the October rush to the unemployment office was not a pleading' indicator of a declining state economy, but rather a onemonth anomaly with no apparent signficance beyond being a temporary consequence of the September storm," the report said. The report is divided into eight leading indicators that foreshadow turns in the economy as far as recessions and recoveries are concerned statewide, and eight coincidental indicators that provide a mirror of the current economic standing of the state, McDuffie said. Of the 16 indicators of state economic activity monitored, 13 improved, two declined and one was unavailable from the previous month. "On either side, no matter how you look at it, November was a good month," Douglas Woodward, assistant professor of economics at USC, said. Although there were many negative consequences of the storm, not one of them was jobs, said WoodNAVY MEDICINE: I TO YOUl The Navy is currently a qualified personnel in the *Optometrist 'Psychologist *Nurse 'Entomologist 'Medical Technologist Excellent pay and benef vacation, insurance, full you are under age 34, we door to just the opportuni ing for. For more inform in South Carolina or 1M-F, 8:00 AM - 4:30 PM. ea BBB M receive your refund matter of days m i iu uaii 11 iccucu ? < from your check available whether v or not H&RE 6840 Garners Ferry Road Landmark Square 776-5747/7495 1735 Decker Boulevard Decker Plaza 787-8682/787-4054 Highway 378, Town Square Lexington 359-4297 Sears, Columbia Mall 788-2558/2655 y growing >, report says ward, who is also a research economist with USC's Division of Research in the College of Business Administration. "I think a lot of people might have thought that unemployment would go up after Hurricane Hugo when in fact it should go down because of the reconstruction effort, and that's what happened," Woodward said. "It now appears that any negative effect on unemployment from Hurricane Hugo lasted less than a month," the report said. Total non-agricultural employment increased by 6,200 jobs in rNovemoer, wun major gains in construction and retail, according to the report The state Employment Security Commission received two grants totaling $10 million. One was from the Commerce Department and the other was from the Labor Department, McDuffie said. The money was intended to help with the Hugo recovery by creating jobs for people who wanted to help clean up the state. Those jobs that became available for cleanup also caused the non-farm job openings to increase, she added. "After Hurricane Hugo hit, we knew that a lot of money would be coming into the state both from the federal government and private insurance. (The money) would start to fuel a reconstruction effort that would create jobs, and those would show up in our figures. They're showing up a lot quicker than we thought," Woodward said. It did happen quickly, but there are other concerns like the manufacturing, which has been declining nationwide, Woodward said. Most significantly, the total unemployment rate fell back to 4.5 percent, where it stood in July. A month after the hurricane, retail sales adjusted for inflation increased by 10.7 percent, the report said November is always going to be a good month for retail sales because of Christmas, but this and other seasonal fluctuations were factored out to get a more accurate picture of economic activity, McDuffie said. Also in November, everything that had been negative appeared to be on the positive side. In fact, 13 of 16 indicators improved, only two declined, she said. .ET US BE THE KEY 1 FUTURE ccepting applications trom following specialties: its, including 30 days paid medical/dental coverage. If j may be able to unlock the ty you have just been looklation call: 1-800-922-2135 800-845-5640 in Georgia, 7 fund anticipation loan in a all fees can be withheld ve prepare your return ELOCK 1720 Broad River Road River Center 772-4022/4023 1505 Charleston Highway Granby Village 796-1400/1409 1001 Harden Street Ton's O' Toys 799-2803/779-0871 647 St. Andrews Road Piggly Wiggly Shopping Center 772-0455/2909 jfl K Urn. IHpjjflE .MgppjwwiwwifMii^ii a ? l iif t f use Rich i r f wiii the ordm or m^lhirtvcn Hunts MOW I I si N?> Big Bucks Pam Martin, president of the lota Chi Ch Black Alumni Council for the Richard T. Gi their annual Stompfest, step show competi Commission Contii small businesses to increase their $460,229 i competitiveness. for the Ad Smith said a purpose of the cen- and School ter is to learn how to use the latest is a part of technology in metal tion adoptt manufacturing. phase of 1 In other business, the commis- ment Act. sion accepted Winthrop College's The Co Senate Continued from page 1 who are appointed by the Student wanted to, Government president. vice-presid In the current codes governing would be the executive committee, which concerned determines what the executive dent may branch does when not specified in not a coi the constitution, each member of Louise's a< the committee receives an equal vote. The am the execut "In its present form, the Student of the Stu Government president could stack dent, vice the committee with anybody he five cabin Tuition Continued from page ing) was way premature," Hubbard on the Sen said. "It's too early for us to even "It's ou be discussing it in real sense, supported That's why I was saying it was all cation in being done in a hypothetical sense tinue to with some broad numbers being Thursday, thrown around just by way of Setzler examples." sembly ha S. C. Senate Education Commit- cation fu tee Chairman Nikki Setzler since 1981 addressed Holderman's statement 'The Bi Got a news tip? Ca Make Mom 1990 Garnet Port LAS! TUESDAY 10 AM RUSSE] This Is Y Be Include Questit ARRIVE EAR " : f',-?; :f s . ^ vf,,-/% - .' mi Jamil Sl.V (I I . (i reciter Schola ( it * * ji I t v i li t ii ii r I timi* - ?? v i mum?| lapter of Delta Sigma Theta presents a check for $ 'eener Minority Scholarship. The money raised by t lion. nued from page 1 iroposal for a Center on Affairs recommended Wintl Ivancement of Teaching proposal over a plan issu I Leadership. The center USC on behalf of S.C. Stai the Target 2000 legisla- other colleges in the USC sys id last year as a second tie Education Improve- The teaching and leade center is aimed at aiding te mmittee on Academic and administrators at the pi " Malphrus said. "The the president. However, on ent and treasurer's input three constitutionally elected irrelevant. We are only ers would be able to vote, with how a future presirun the office. This is "We are trying to make mmentary on Marie- good guidelines for all exe iministration." . officers to use to organize th fice and duties," Malphrus lAnHm^nt \i/mi 1H reuicp "Wa ot-a hatai-minincr ttia rv ive committee to consist and priorities of sti ident Government presi- government" -president, treasurer and In other business, two 1 et officers appointed by seats of the Student Senate 1 ate floor Thursday. has proposed for next year r position that we have crease of $44 million. Ou funding for higher edu- $175 million new dollars, this state and will con- approximately 25 percent do so," he said later new money for next year proposed for higher educi said the General As- Setzler said, is increased higher edu- House representative and nding by $89 million ber of the Ways and Means r. mittee Tim Rogers said the ! udget and Control Baord and Control Board's pr< 11 The Gamecock at 777-7726 ' -rjj % " IT, ?V>/ , 1 : " ' and Dad Happy, the Book. JVr Pila^ V rait Sittings rDAY!!! pEBRUARY 6TH [ TO 5:30 PM LL HOUSE 316 our Last Chance To ;d In The 1990 G&B! ons? Call 777-3888 LY TO BEAT THE LINES! v;'' ' ":l" Terry Bryant/The Gamecock 13,641.03 to Bryon Terry, president of he sorority came from the proceeds of hrop's and secondary school levels, ed by The commission also approved te and $261,265 in funds to S.C. State for >tem. campus security and increasing the number of police to 40. The comsrship mission stipulated that S.C. State achers spend at least $138,335 to upgrade rimary security. ly the filled. Elizabeth Shuping of the offic- College of Library and Information Sciences and Anthony Lombardo of the College of Criminal Justice some became new members of Student icutive Government. eir of- When vacancies occur during a ; said, non-election period, new members olicies are appointed by the president of ident the Senate and must be reviewed by the Powers and Responsibility vacant Committee before being voted on ' were for final acceptance by the Senate. an in- would decrease higher education t of a "formula" funding from its present that's level of 91.9 percent to about 89 of the percent, which would be the lowbeing est in three years, ition," "The funding represents more money than last year, but the formem mula changes every year according i Com- to different areas in the formula Budget like inflation and student popula:>posal tion," Rogers said. -| History Continued from page 1 "I think the program should have been packed. Publicity was up, but there,s still a non-chalant attitude toward Black History , Month. It's not celebrated as it should be. As Asa said we need a year, not a month. A month is not enough because we don't here it everyday," Afro President Laura Haney said. To get more people learning about African history, the Association of Afro-American Students has started African study groups, Haney said. She said, 'The study groups really help. The things Asa Hilliard said didn't seem foreign to me because I've been doing outside studying." "The United Way works | 365 days a year, not just i J... II.... I.La in tkd ure uoy iiiey wivw up ???*? | money- /^j. The United Way Is j gpTh>W?rO?Lov?. | The Gamecock The Gamecock is the student newspaper of the University of South Carolina and is published three times a week on Mondays, Wednesdays and Fridays during the fall and spring semesters and weekly during both summer sessions, with the exception of university holidays and examination periods. Opinions expressed in The Gamecock are those of the editors or author and not those of the University of South Carolina. The Board of Student Publicatons and Communications is the publisher of The Gamecock . The Student Media Department is the parent organization of The Gamecock. Change of address forms, subscriptions requests and other correspondence should be sent to The Gamecock, P.O. Box 85131, the University of South Carolina, Columbia, S.C. 29208. Subscription rates are $20 for one year, $10 per fall or spring semester and $5 for both summer sessions. Third class postage paid at Columbia, S C. The Gamecock is a registered student organization of the University of South Carolina and is partially funded by student activity fees.