- Published on Saturday, 28 July 2012 00:29
- Written by Super User
Nonfarm Jobs Increase by 37,000 Over-the-Year
RALEIGH, N.C. : July 20, 2012 - North Carolina’s seasonally adjusted unemployment rate remained at 9.4 percent for the third consecutive month.
“Since June of 2010, North Carolina has gained over 85,000 jobs,” said N.C. Department of Commerce Deputy Secretary Dale Carroll. “Over-the-year numbers also show gains for a majority of the job sectors. Our focus, along with our workforce partners, continues to be job growth and to put North Carolinians back to work with the help of employers and our employment service offices statewide.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased by 16,900 to 3,963,100 in June. The major industry with the largest over-the-month increase was Professional & Business Services, which gained 6,400.
Since June 2011, Total Nonfarm jobs gained 37,000 with the Service Providing sector increasing by 38,600 and the Goods Producing sector decreasing by 1,600. The largest over-the-year increase of major industries was in Government at 13,000, followed by Education & Health Services, 12,100 and Trade, Transportation and Utilities, 9,400.
The number of people employed (smoothed seasonally adjusted) decreased by 7,909 to 4,216,644 over the month, but increased by 60,223 over the year. The state unemployment rate in June 2011 was 10.6 percent.
The next unemployment update is scheduled for Friday, July 27, when the county unemployment rates for June 2012 will be released.
It is important to note that industry employment estimates are subject to large seasonal patterns. While seasonal adjustment factors are applied to the data, these factors may not be fully capturing the seasonal trend. Therefore, when interpreting the industry employment changes, it is advisable to focus on over-the-year changes in both the smoothed seasonally adjusted series and not seasonally adjusted series.
The North Carolina smoothed seasonally adjusted unemployment rate was 9.4 percent in June, remaining the same as the previous month, and 1.2 percentage point lower than June 2011. Over the month, the number of persons unemployed increased by 2,597 (0.6%). The civilian labor force was relatively unchanged at 4,655,778. Nationally, June’s unemployment rate was 8.2 percent, showing no increase from the previous month. The number of persons unemployed grew by 29,000 (0.2%), while the civilian labor force increased by 156,000 (0.1%). Starting with the January 2012 national labor force statistics, the BLS incorporated new population controls that reflect the results of the 2010 Census. The BLS did not revise historical data based on these population controls; therefore, labor force statistics for 2012 are not directly comparable with previous years’ data. Seasonally adjusted Total Nonfarm industry employment (3,963,100) showed an increase of 16,900 (0.4%) since May 2012, and an increase of 37,000 (0.9%) since June 2011. Private sector employment grew both over the month by 11,700 (0.4%) and over the year by 24,000 (0.7%).
It is important to note that industry employment estimates are subject to large seasonal patterns. Seasonal adjustment factors are applied to the data. However, these factors may not be fully capturing the seasonal trend. Therefore, when interpreting the changes in industry employment, it is advisable to focus on over-the-year changes in both the seasonally adjusted and not seasonally adjusted series. Of the major industries for which payroll data are seasonally adjusted, Professional & Business Services had the largest over-the-month gain in jobs (6,400; 1.2%), followed by Government (5,200; 0.7%), Education & Health (2,000; 0.4%), Manufacturing (1,500; 0.3%), Construction (1,400; 0.8%), Trade, Transportation & Utilities (1,200; 0.2%), Financial Activities (600; 0.3%) and Information (200; 0.3%). Other Services (900; 0.6%) had the largest over-the-month decrease, followed by Leisure & Hospitality (700; 0.2%). Since June 2011, Government added the largest number of jobs (13,000; 1.9%), followed by Education & Health Services (12,100; 2.2%), Trade, Transportation & Utilities (9,400; 1.3%), Professional & Business Services (7,200; 1.4%) and Manufacturing (3,200; 0.7%).
The June 2012 not seasonally adjusted Total Nonfarm employment level of 3,981,500 was 900 (<0.1%) higher than the May 2012 revised employment level of 3,980,600. Among the major industries in North Carolina, Leisure & Hospitality had the largest over-the-month increase in employment at 12,400 (3.0%), followed by Professional & Business Services (8,900; 1.7%), Manufacturing (3,300; 0.8%), Financial Activities (2,400; 1.2%), Trade, Transportation & Utilities (2,100; 0.3%), Construction (1,600; 0.9%), Other Services (1,400; 0.9%) and Information (700; 1.0%). Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 42,100 (1.3%) jobs. Professional & Business Services experienced the largest employment increase with 11,300 (2.2%), followed by Education & Health Services (11,200; 2.1%), Trade, Transportation & Utilities (10,300; 1.4%), Government (8,600; 1.3%), Leisure & Hospitality (1,700; 0.4%) and Financial Activities (1,600; 0.8%). Other Services experienced the largest decrease (2,500; 1.6%), followed by Information (100; 0.1%).
The Goods Producing sector decreased by 1,300 (0.2%) jobs over the year. Construction declined by 4,700 (2.6%), followed by Mining & Logging (200; 3.5%), while Manufacturing grew by 3,600 (0.8%). Food had the largest amount of manufacturing employment with 52,400 in June 2012. Machinery had the largest net over-the-year increase at 2,200. Other manufacturing industries with over-the-year increases were: Furniture & Related Product, 1,100; Food, 1,000; Electrical Equipment, Appliance & Component, 900; Transportation Equipment, 900; Fabricated Metal Product, 700; Computer & Electronic Product, 500; Beverage & Tobacco Product, 100; Chemical, 100 and Wood Product, 100.
Average Weekly Hours for manufacturing production workers in June remained the same as May’s revised rate of 40.7. Average Hourly Earnings grew by $0.03 to $16.47, as Average Weekly Earnings increased by $1.22 to $670.33. Regular Initial Claims for Unemployment Insurance (UI) totaled 46,512 in June, decreasing 5,208 from May. Thirty-seven percent of Initial Claims for June 2012 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs.
A total of $95,463,043 in regular UI benefits was paid in June to 100,280 claimants statewide — a decrease of 3,342 claimants since May 2012. For the 12-month period ending June 2012, $3,271,914,323 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of June was in the red ($2,562,835,341). The State Reserve Fund balance was $174,782,900.
The N.C. Department of Commerce has created the Labor and Economic Analysis Division. This division brings together economists, analysts, and statisticians that previously worked in the Labor Market Information division of the former Employment Security Commission, and the staff of the Policy, Research, and Strategic Planning division of the NC Department of Commerce.