- Published on Wednesday, 02 January 2013 13:51
- Written by Super User
RALEIGH, N.C. : December 21, 2012 - North Carolina’s smoothed seasonally adjusted unemployment rate decreased 0.2 of a percentage point in November to 9.1 percent.
The national rate also fell 0.2 of a percentage point, from 7.9 percent to 7.7 percent. North Carolina’s November 2012 unemployment rate is 1.3 percentage points lower than a year ago.
The number of people employed (smoothed seasonally adjusted) increased 34,884 to 4,304,088 over the month, and 120,527 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 30,600 to 3,995,700 in November. The major industry with the largest over-the-month increase was Trade, Transportation & Utilities, which gained 7,300 jobs, followed by Professional & Business Services, 5,400; Education & Health Services, 4,900; Leisure & Hospitality Services, 4,600 jobs; Manufacturing, 3,900; Construction, 1,700; and Financial Activities, 600. Since February 2010, when the state’s unemployment rate reached its highest mark of 11.4 percent, North Carolina has gained 145,300 jobs.
Since November 2011, Total Nonfarm jobs gained 60,000 with the Service Providing sector increasing by 58,100, and Goods Producing, 1,900. The largest over-the-year increase of major industries was in Trade, Transportation & Utilities, 16,300, followed by Leisure & Hospitality Services, 15,100; Professional & Business Services, 14,900; Education & Health Services, 10,100; Manufacturing, 6,800; Financial Activities, 2,900; and Information, 1,200.
The next unemployment update is scheduled for Thursday, Jan. 3, 2013 when the county unemployment rates for November 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 9.1 percent in November, decreasing 0.2 of a percentage point from the previous month, and 1.3 percentage points from November 2011. Over the month, the number of persons unemployed decreased by 8,572 (1.9%). The civilian labor force grew by 26,312 (0.6%) to 4,735,812. Nationally, November’s unemployment rate was 7.7 percent, decreasing from the previous month’s 7.9 percent. The number of persons unemployed fell by 229,000 (1.9%), while the civilian labor force declined by 350,000 (0.2%). 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 (3,995,700) showed an increase of 30,600 (0.8%) since October 2012, and an increase of 60,000 (1.5%) since November 2011. Private sector employment increased over the month by 28,200 (0.9%) and grew over the year by 61,100 (1.9%).
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, Trade, Transportation & Utilities had the largest over-the-month gain in jobs (7,300; 1.0%), followed by Professional & Business Services (5,400; 1.0%), Education & Health Services (4,900; 0.9%), Leisure & Hospitality (4,600; 1.1%), Manufacturing (3,900; 0.9%), Government (2,400; 0.3%), Construction (1,700; 1.0%) and Financial Activities (600; 0.3%). Information (200; 0.3%) had the only over-the-month decrease. Mining & Logging and Other Services showed no change over the month. Since November 2011, Trade, Transportation & Utilities added the largest number of jobs (16,300; 2.2%), followed by Leisure & Hospitality, (15,100; 3.8%), Professional & Business Services (14,900; 2.9%), Education & Health Services (10,100; 1.8%), and Manufacturing (6,800; 1.6%).The November 2012 not seasonally adjusted Total Nonfarm employment level of 4,027,400 was 28,700 (0.7%) higher than the October 2012 revised employment level of 3,998,700. Among the major industries in North Carolina, Trade, Transportation & Utilities had the largest over-the-month increase in employment at 16,100 (2.2%), followed by Education & Health Services (7,700; 1.4%), Government (5,500; 0.8%), Manufacturing (4,000; 0.9%) and Information (500; 0.7%). Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 54,700 (1.6%) jobs. Trade, Transportation & Utilities experienced the largest employment increase with 15,800 (2.1%), followed by Leisure & Hospitality (14,700; 3.7%), Professional & Business Services (13,900; 2.7%), Education & Health Services (10,100; 1.8%), Financial Activities (3,000; 1.5%), and Information (1,200; 1.7%). Government experienced the largest decrease (3,100; 0.4%), followed by Other Services (900; 0.6%). The Goods Producing sector increased by 2,300 (0.4%) jobs over the year. Construction declined by 5,000 (2.8%), followed by Mining & Logging (200; 3.6%), while Manufacturing grew by 7,500 (1.7%). Food had the largest amount of manufacturing employment with 53,200 in November 2012. Food also had the largest net over-the-year increase at 1,700. Other manufacturing industries with over-the-year gains were: Transportation Equipment, 1,100; Computer & Electronic Product, 1,000; Machinery, 1,000; Wood Product, 800; Plastics & Rubber Products, 700; Chemical, 600; Electrical Equipment, 500; and Furniture & Related Product, 500.
Average Weekly Hours for manufacturing production workers in November increased by 24 minutes from October’s revised rate of 40.8. Average Hourly Earnings grew by $0.01 to $16.58, as Average Weekly Earnings grew by $7.04 to $683.10. Regular Initial Claims for Unemployment Insurance (UI) totaled 60,805 in November, increasing 1,687 from October. Forty-seven percent of Initial Claims for November 2012 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs. A total of $94,685,033 in regular UI benefits was paid in November to 100,946 claimants statewide — an increase of 962 claimants since October 2012. For the 12-month period ending November 2012, $2,926,681,984 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of November was in the red ($2,468,976,893). The State Reserve Fund balance was $67,160,755.
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.