Business news

S.C. jobless rate falls for 7th month


COLUMBIA — South Caro­lina’s jobless rate fell for the seventh month in a row in February, falling to 9.1 percent, according to the Department of Employment and Workforce.

That’s down slightly from January’s 9.3 percent rate. Aiken County’s rate fell from 9.1 to 8.5 percent.

Nearly 10,000 more people in South Carolina had jobs than in January, a figure state officials said is the third-largest month-to-month gain in employment in more than 30 years.

The national rate of 8.3 percent was unchanged.

Barnwell County, which had the fourth-highest rate in the state, saw its jobless rate fall from 16 percent to 15.3 percent. Edgefield County held steady at 9.6 percent.

Groupon’s quarter ends up weaker

PORTLAND, ORE. — Groupon said Friday that its fourth-quarter loss was wider than initially reported because it needed to increase the amount of money it sets aside for refunds.

The company’s first quarterly report since it went public in November already had disappointed investors, and the revision added to its list of fumbles.

Groupon prominently promises to refund money to any user unhappy with a deal. The need for the revision indicates it might not have the controls in place to adequately keep up with its own success.

The revision lowered the company’s quarterly revenue by $14.3 million and widened its loss by $22.6 million, or 4 cents per share.



Wed, 11/22/2017 - 18:38

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