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/
North Carolina’s unemployment rate marked its lowest point in nearly six years this January, according to the North Carolina Department of Commerce.
In the first month of the new year, the jobless rate fell 0.2 percent compared to the month prior and 2.1 percent from the year before.
The numbers reflect true improvement from between December and January with more than 17,000 people claiming new jobs while more than 11,000 people no longer claimed to be without employment.
North Carolina’s unemployment numbers are just about even with the national level of 6.6 percent.
The state’s unemployment rate of 6.7 percent marks the lowest point since November 2008, which was in the middle of a five-percent increase in about a year and a half.
The county-by-county unemployment rates are scheduled to be released this Friday.
Click here to see the unemployment rate release.http://chapelboro.com/news/business/state-unemployment-rate-hits-five-year-low-january/
RALEIGH – North Carolina’s unemployment rate continues its steady decline and has reached a more than four-and-a-half-year low at 8.7 percent.
The North Carolina Department of Commerce announced Friday that the state’s unemployment rate saw a decrease of 0.2 percent from July to August. That followed the nation’s trend which fell from 7.4 to 7.3 percent.
Compared to a year ago, the state’s unemployment rate fell 0.9 percent from 9.6 to 8.7.
Employment increased in the state by more than 3,500 jobs in the month of August. The number of people claiming unemployment fell by more than 8,500.
County-by-county numbers for August are scheduled to be released October 2. In July, Orange County had the state’s third-lowest unemployment rate; Chatham County was second behind Currituck.http://chapelboro.com/news/business/state-unemployment-continues-steady-decline/
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/
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 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.
RALEIGH – North Carolina’s seasonally adjusted unemployment rate fell to its lowest point in more than four years in April, according to figures released Friday by the NC Department of Commerce.
The jobless rate fell 0.3 to 8.9 percent in the first month of the second quarter of 2013, which equals the January 2009 rate. That marked the mid-way point of a steep incline in reports of unemployment since the beginning of the Great Recession. The uptick began around the five-percent mark in early 2008 and climbed to 11.3 percent in just more than a year. The fall has been much slower.
The country’s unemployment numbers were also positive in April, dropping 0.1 to 7.5 percent. The entire country saw the same trend in jobless reports, but only peaked at 10 percent and has since seen a slightly quicker decent.
County-by-county numbers for April are scheduled to be released Wednesday, May 29. Orange County has remained the leader in positive unemployment numbers since November 2012.
RALEIGH – OrangeCounty’s unemployment rate continued to fall in the final month of the first quarter dropping an additional 0.3 percent, a trend that all but one of the state’s counties experienced.
According to the North Carolina Department of Commerce Labor and Economic Analysis Division, Orange County had the lowest unemployment rate (not seasonally adjusted) in the North Carolina in March at 5.6 percent compared to Graham County, which remained the highest in the state at 17.8 percent. The jobless rate in the Orange is also down 0.3 percent from March 2012.
The only county that didn’t see a decrease was WilsonCounty which broke even at 12.3.
To see a breakdown of county-by-county unemployment rates for March 2013 across the state, click here.http://chapelboro.com/news/business/oc-jobless-rate-continues-to-fall/
RALEIGH – For the first time in seven months, the state unemployment rate saw a slight increase, according to a report from the NC Department of Commerce released Monday morning.
Compared to the final month of 2012, North Carolina’s January jobless rate rose from 9.4 to 9.5 percent, which is 0.1 better than a year ago. The seasonally adjusted number of people with jobs grew by nearly 3,000 people while those without grew by more than 6,000.
The national average saw its first climb in three months after holding steady at 7.8 percent since November. The US jobless rate is 7.9 percent, which is 0.4 better than a year ago.
The county-by-county numbers for January are scheduled to be released on Friday and February’s statewide numbers will be announced next Thursday.