More than 8,500 fewer people in North Carolina were employed in June compared to May, although the state’s jobless rate remained flat, according to the state Department of Commerce.
North Carolina’s 6.4 percent seasonally adjusted unemployment rate in June is now 0.3 percent higher than the national average and ranks the state tied for 32nd with Alaska. Bordering states South Carolina and Virginia are tied at 17th with 5.3 percent, Tennessee at 36th with 6.6 percent, and Georgia at 44th with 7.4 percent.
Unemployment claims in North Carolina fell by more than 2,100 people from May to June. Over the year, the number fell by more than 89,000 people, dropping the jobless rate from 8.3 percent in June 2013 to 6.4 percent this year.
North Carolina’s unemployment rate saw a small increase in May from its lowest point of 6.2 percent in April. That marked a low of more than five years, dating back to the start of the Great Recession.
County-by-county unemployment rates in North Carolina are scheduled to release July 30. To see the full breakdown of the state’s unemployment rate, click here.http://chapelboro.com/news/business/june-fewer-employed-jobless-rate-flat/
North Carolina’s unemployment rate for the month of May 2014 increased to 6.4, rising by only 0.2 when compared to April’s rate of 6.4. Meanwhile, the national average remains at a rate of 6.3.
When compared to the rates at this time last year, North Carolina unemployment has dropped from 8.3 to the current 6.4. Nationally, the numbers have decreased from 7.5 to the rate of 6.3 it is now.
The number of people employed North Carolinians increased by over 10 thousand over the month of May to nearly 4.4 million and increased by about 82 thousand over the year. The number of people unemployed increased by over 8 thousand over the May, to more than 300 thousand, and decreased by over 90 thousand for the year.
Tuesday, July 1, will mark the release of the next unemployment update.
For the full news release, click here.http://chapelboro.com/news/business/nc-unemployment-rates-remain-stable/
North Carolina unemployment rates in the metro areas may be steadily decreasing, but not quite fast enough to make up for the losses suffered from the “Great Recession.”
The Division of Employment Security stated in a recent press release that 10 of the state’s 14 metro areas have not yet reclaimed the jobs that were lost over the course of the recession. Six of these metro areas will take more than a decade to create enough jobs to return to the numbers they had given their current employment growth rates.
“This is really the most important measuring stick for every jobs report: are we creating enough jobs to meet the needs of workers who want jobs?” says Public Policy Analyst with the North Carolina Budget and Tax Center, Allan Freyer. “The first test of that is whether we have created enough jobs to dig ourselves out of the hole that was created during the Great Recession.”
Freyer states that the Chapel Hill area is making the right steps in making jobs. “Durham-Chapel Hill has done really well. Over the last year, Durham-Chapel Hill gained about 4,400 jobs. They’ve created 6,000 jobs since the end of the recession, so it is one of the few metro areas that have seen positive growth.”
As for the upcoming year, Freyer says that the Chapel Hill area will continue to open up opportunities for those who need them.
“I do think Durham-Chapel Hill will continue to add jobs. They have already reclaimed enough jobs to fill the hole created by the recession,” assures Freyer. “I think for many of these other metro areas, several of them will, in all likelihood, by the end of this year, create enough jobs to get back to where they were in 2007.
Freyer also warns that there needs to be a change for other metro areas in order for greater job growth to happen.
“For a lot of these other metro areas, they have many, many, many years left to go to get back to where they were before the recession began, if they keep creating jobs at the present rate.”http://chapelboro.com/news/state-news/slow-job-recovery-nc-metros/
North Carolina’s unemployment rate fell to its lowest point in nearly six years in February at 6.4 percent.
According to the North Carolina Department of Commerce, the jobless rate fell from 6.7 percent in January, a total of 0.3 percent. However, the numbers aren’t all positive.
While the report shows nearly 15,000 fewer people claimed unemployment, only 7,400 more people were hired.
The same trend is apparent when comparing the numbers over the year: nearly 50,000 more people were employed from February 2013 to 2014, while more than 112,000 fewer people claimed to be unemployed. That decreased the jobless rate 2.2 percent in just 12 months.
February 2014 also put North Carolina’s unemployment rate lower than the national number for the first time since March 2006.
The county-by-county unemployment numbers are scheduled to release April 9.
To see the complete breakdown of North Carolina’s February unemployment stats, click here.http://chapelboro.com/news/business/nc-unemployment-rate-hits-nearly-six-year-low/
MEBANE — The world’s largest retail store chain and a financial company that got the biggest U.S. government bailout five years ago are opening new North Carolina operations that expect to employ nearly 700 workers.
Gov. Pat McCrory’s office said Tuesday Wal-Mart Stores Inc. plans to open a grocery distribution center in AlamanceCounty that is forecast to employ about 450. State and local governments offered the retail giant more than $9 million in tax breaks, land, roads and other incentives if it meets job and investment projections.
Insurance giant American International Group plans a Charlotte software design, development and testing center employing 230 people. AIG could get more than $5 million in government sweeteners.
An Israel-based textile maker says it’s adding 65 jobs at Spuntech Industries Inc. in Roxboro.http://chapelboro.com/news/business/wal-mart-aig-say-plan-nearly-700-nc-jobs/
RALEIGH – Unemployment in Chatham and Orange counties improved just before the start of the new school year as the two areas are second and third in the state, according to the North Carolina Department of Commerce.
Both counties dropped 0.2 percent in July as Orange fell to 6.2 percent and Chatham fell to 6.1 percent. Currituck County remains the county with the lowest unemployment statewide at 5.3 percent.
Compared to the state rate of 8.9 percent, which saw an increase in July, the Triangle remains a strong area for jobs. Wake County saw a decrease of 0.1 percent to 7.2 in July; Durham County remained at 7.5 percent.
Compared to a year ago, Orange County is a whole point better from 7.2 to 6.2 percent; Chatham saw the same pattern from 7.1 to 6.1.
For the full report from the Labor and Economic Analysis Division, click here.http://chapelboro.com/news/business/triangle-unemployment-continues-to-fall/
RALEIGH – North Carolina’s unemployment rate saw its first increase since January with July’s rate at 8.9 percent.
The Department of Commerce, Labor and Economic Analysis Division announced Monday that the state’s seasonally adjusted unemployment figures didn’t follow the pattern of the national trend as the U.S. rate fell 0.2 percent to 7.6.
However, compared to July 2012, unemployment numbers decreased by more than 36,500 workers and employed workers increased by nearly 15,000.
County-by-county unemployment figures are scheduled to be released Wednesday, August 28.
ORANGE COUNTY – Not long ago, Orange County had the lowest unemployment rate in the state. But, according to the newest report by the North Carolina Civilian Labor Force, we have taken another hit.
Orange County’s unemployment rate rose to 6.5 percent in June, compared to 5.9 percent in May. However, at this same time last year, the county’s unemployment rate was 7.1 percent.
The North Carolina Department of Commerce says the state’s unemployment rate was at 9.3 percent in June, with the unemployment rate increasing in 81 counties. All of the state’s metropolitan areas experienced lower employment.
Those unemployed increased by around 16,100 people, bringing the number of unemployed workers in the state up to around 439,400.
These numbers are not seasonally adjusted.
Orange County had the lowest unemployment rate in the state for six months until November 2012. It is now ranked third, behind Currituck and Chatham Counties, who are first and second respectively.
The full unemployment report can be read here.http://chapelboro.com/news/business/oc-unemployment-increases-in-june/
RALEIGH – North Carolina’s seasonally adjusted May unemployment rate decreased to 8.8 percent from April’s revised rate of 8.9 percent. The rate in April had been North Carolina’s lowest point in more than four years.
From April to May this year, the national unemployment rate increased to 7.6 percent from 7.5 percent.
North Carolina’s May 2013 rate was 0.7 of a percentage point lower than a year ago.
The number of people employed in North Carolina increased by 1,018 during the month and by 37,331 during the year. The jobless rate declined by 2,451 during the month and 29,767 during the year. This brings the total number of employed North Carolinians to 4,303,514 and the unemployed to 416,565.
However, North Carolina Budget and Tax Center public policy analyst, Allen Freyer previously told WCHL that the month-to-month comparison of the unemployment rate doesn’t tell the whole story of North Carolina’s current economic condition.
The total labor force, as calculated by the Department of Commerce, is the pool of prime age workers who have a job or want one. So a decrease in unemployed people does not always mean an increase in those employed.
It’s also important to note that industry employment estimates are subject to large seasonal patterns. For example, of the major industries for which pay roll data are seasonally adjusted, Leisure & Hospitality Services had the largest over-the-month gain in jobs between April and May, while many other industries had an overall higher number of jobs despite a seasonal decrease.
The county unemployment rates for May 2013 are scheduled to be updated on Tuesday, July 2, 2013.http://chapelboro.com/news/business/state-unemployment-rate-sees-slight-drop-since-april/
RALEIGH – North Carolina Budget and Tax Center public policy analyst, Allan Freyer says the month-to-month comparison of the unemployment rate doesn’t tell the whole story of North Carolina’s current economic condition.
“The 15,000 workers that are no longer considered unemployed didn’t move into jobs; they didn’t move into employment,” Freyer says. “If they had, we would have seen the number of employed workers in North Carolina go up.”
From March to April this year, the number of unemployed workers dropped by 15,259. However, the number of employed workers didn’t increase by more than 15,000, in fact it also dropped by 4,188.
Freyer says the numbers are a little more disappointing than a 0.3 decrease in the unemployment rate.
The total labor force, as calculated by the Department of Commerce, is the pool of prime age workers who have a job or want one.
“And it’s now actually at the lowest level since July 2012,” Freyer says. “It erased almost nine months’ worth of gains. And, even more troubling is that the total number of employed people in North Carolina also dropped to the lowest level since October 2012.”
The unemployment rate does show signs of recovery, though. The year-to-year comparison is the best measure and shows that in April, North Carolina’s labor force increased by more than 13,000 people, the unemployment rate decreased by more than 21,000 and the employment rate increased by just more than 35,000.
Freyer says it’s not a bad thing to look at the unemployment rate to measure the economic condition, but it needs to be used as just one of the calculating tools. Another one of those tools is called the employment to population ratio.
“It measure the percent of your total population that’s employed,” Freyer says.
In April, 57 percent of the North Carolina’s population was employed; 58.6 percent of the nation’s population was employed.
Again, that can’t be the only tool used as it measures the entire population and not just the labor force.