- Published on Wednesday, 20 March 2013 00:48
- Written by Super User
RALEIGH, N.C. : March 18, 2012 - The state’s January unemployment rate increased to 9.5 percent from December’s annual revised rate of 9.4 percent. The national rate rose to 7.9 percent from December’s 7.8 percent.
North Carolina’s January 2013 unemployment rate is 0.1 of a percentage point lower than a year ago. The number of people employed (smoothed seasonally adjusted) increased 2,888 to 4,323,089 over the month, and increased to 83,518 over the year. The number of people unemployed grew 6,243 to 453,276 over the month, and grew 2,634 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, gained 15,100 to 4,047,400 in January. The major industry with the largest over-the-month increase was Leisure & Hospitality Services at 6,500 followed by Manufacturing, 5,400; Trade, Transportation and Utilities, 4,000; Construction, 1,600; Information, 1,100; Government, 900; and Financial Activities, 600. Major industries to experience decreases were Professional & Business Services, 2,600; Education and Health Services, 2,300; and Mining & Logging, 100.
Since January 2012, Total Nonfarm jobs gained 85,700 with the Total Private sector growing by 83,000, and Government, 2,700. The largest over-the-year increase of major industries was in Leisure & Hospitality Services, 25,400 followed by Trade, Transportation & Utilities, 19,200; Professional & Business Services, 13,800; Manufacturing, 11,400; Education and Health Services, 9,300; Financial Activities, 3,200; Government, 2,700; Other Services, 2,100; and Information, 1,100. Major industries to experience decreases over the year were Construction, 2,300; and Mining & Logging, 200.
The next unemployment update is scheduled for Friday, March 22 2013 when the county unemployment rates for January will be released.
Local Area Unemployment Statistics (LAUS) Annual Revisions
Monthly labor force statistics for the state and substate areas are revised by the Bureau of Labor Statistics (BLS) through the annual revision process. This updates the historical monthly labor force statistics to reflect revised population controls; seasonal factors, employment estimates, and unemployment insurance claims. Both seasonally adjusted and not seasonally adjusted data are subject to revisions back to 2008.
Starting with the January 2013 national labor force statistics, BLS incorporated population controls that reflect the Census population estimates for 2012. BLS did not revise historical data based on the new population controls; therefore, labor force statistics for January 2013 are not directly comparable with the figures for December 2012 or earlier periods.
Current Employment Statistics (CES) Benchmarking
Monthly Nonfarm payroll employment estimates for the state and substate areas are also subject to annual revisions required by the BLS. The employment estimates are adjusted through a process that overlays these sample-based estimates with actual employment data from the Quarterly Census of Employment and Wages program that has been adjusted to reflect CES employment definitions. The seasonally adjusted and not seasonally adjusted series are subject to revisions from 1990 forward.
The next unemployment update is scheduled for Friday, March 22, 2013 when the county unemployment rates for January 2013 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 2013 Release Schedule is also available online at: http://www.ncesc1.com/pmi/rates/PressReleases/NC_Release_Dates_2013.pdf
The North Carolina smoothed seasonally adjusted unemployment rate was 9.5 percent in January, increasing 0.1 of a percentage point from the previous month, and decreasing 0.1 of a percentage point from January 2012. Over the month, the number of persons unemployed grew by 6,243 (1.4%). The civilian labor force increased by 9,131 (0.2%) to 4,776,365. Nationally, January’s unemployment rate was 7.9 percent. The number of persons unemployed was 12,332,000, while the civilian labor force was 155,654,000. Seasonally adjusted Total Nonfarm industry employment (4,047,400) showed an increase of 15,100 (0.4%) since December 2012, and an increase of 85,700 (2.2%) since January 2012. Private sector employment increased over the month by 14,200 (0.4%) and grew over the year by 83,000 (2.6%).
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, Leisure & Hospitality Services had the largest over-the-month gain in jobs (6,500; 1.5%), followed by Manufacturing (5,400; 1.2%), Trade, Transportation & Utilities (4,000; 0.5%), Construction (1,600; 0.9%), Information (1,100; 1.6%), Government (900; 0.1%), and Financial Activities (600; 0.3%). Professional & Business Services (2,600; 0.5%) had the largest over-the month decrease, followed by Education & Health Services (2,300; 0.4%), and Mining & Logging (100; 1.8%). Other Services reported no gain over the month. Since January 2012, Leisure & Hospitality Services added the largest number of jobs (25,400; 6.2%), followed by Trade, Transportation & Utilities, (19,200; 2.6%), Professional & Business Services (13,800; 2.6%), and Manufacturing (11,400; 2.6%).
The January 2013 not seasonally adjusted Total Nonfarm employment level of 3,985,800 was 68,800 (1.7%) lower than the December 2012 revised employment level of 4,054,600. Among the major industries in North Carolina, only Manufacturing had an over-the-month increase in employment at 900 (0.2%). Trade, Transportation & Utilities had the largest decrease at 20,300 (2.6%), followed by Professional & Business Services (14,400; 2.7%), and Education & Health Services (8,900; 1.6%). Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 77,800 (2.4%) jobs. Leisure & Hospitality experienced the largest employment increase with 23,800 (6.2%), followed by Trade, Transportation & Utilities (20,500; 2.8%), Professional & Business Services (12,100; 2.4%), Education & Health Services (11,400; 2.1%), Financial Activities (3,400; 1.7%), Government (3,200; 0.4%), Other Services (2,400; 1.7%), and Information (1,000; 1.4%). The Goods Producing sector increased by 8,500 (1.4%) jobs over the year. Construction declined by 3,100 (1.9%), followed by Mining & Logging (200; 3.6%), while Manufacturing grew by 11,800 (2.7%). Food had the largest amount of manufacturing employment with 51,600 in January 2013. Food also had the largest net over-the-year increase at 2,300. Other manufacturing industries with over-the-year gains were: Transportation Equipment, 1,900; Chemical, 1,700; Fabricated Metal Product, 1,500; Machinery, 1,100; Plastics & Rubber Products, 1,000; Computer & Electronic Product, 800; Beverage & Tobacco Product, 400; and Wood Product, 300.
Average Weekly Hours for manufacturing production workers in January decreased by 36 minutes from December’s revised rate of 41.6. Average Hourly Earnings grew by $0.18 to $16.84, as Average Weekly Earnings fell by $2.62 to $690.44. Regular Initial Claims for Unemployment Insurance (UI) totaled 87,974 in January, increasing 25,113 from December. Fifty-nine percent of Initial Claims for January 2013 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs. A total of $117,712,026 in regular UI benefits was paid in January to 127,323 claimants statewide — an increase of 16,492 claimants since December 2012. For the 12-month period ending January 2013, $2,797,177,357 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of January was in the red ($2,567,601,534). The State Reserve Fund balance was $77,000,400.