- Published on Tuesday, 23 April 2013 23:55
- Written by Super User
RALEIGH, N.C. : April 19, 2013 - The state’s smoothed seasonally adjusted March unemployment rate decreased to 9.2 percent from February’s revised rate of 9.4 percent. The national rate fell to 7.6 percent from February’s 7.7 percent.
North Carolina’s March 2013 unemployment rate was 0.2 of a percentage point lower than a year ago. The number of people employed decreased 10,954 over the month to 4,307,071, and increased 42,669 over the year. The number of people unemployed fell 11,619 over the month to 435,209, and declined 7,127 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, fell 300 to 4,048,600 in March. The major industry with the largest over-the-month increase was Professional & Business Services at 4,200, followed by Information, 1,300; Education & Health Services, 1,100; Other Services, 1,000; and Leisure & Hospitality Services, 800. Major industries to experience decreases were Manufacturing, 3,700; Trade, Transportation & Utilities, 2,200; Construction, 1,800; Government, 900; and Mining & Logging, 100. Financial Activities employment remained flat over the month.
Since March 2012, Total Nonfarm jobs gained 75,300 with the Total Private sector growing by 72,100, and Government, 3,200. The largest over-the-year increase of major industries was in Leisure & Hospitality Services, 20,200, followed by Trade, Transportation & Utilities, 16,100; Professional & Business Services, 15,600; Education & Health Services, 12,800; Manufacturing, 4,200; Government, 3,200; Other Services, 3,100; Information, 2,900; and Financial Activities, 2,700. Major industries to experience decreases over the year were Construction, 5,300; and Mining & Logging, 200.
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.
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 next unemployment update is scheduled for Wednesday, May 1, 2013 when the county unemployment rates for March 2013 will be released.
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 9.2 percent in March, decreasing 0.2 of a percentage point from the previous month, and decreasing 0.2 of a percentage point from March 2012. Over the month, the number of persons unemployed fell by 11,619 (2.6%). The civilian labor force decreased by 22,573 (0.5%) to 4,742,280.
Nationally, March’s unemployment rate was 7.6 percent. The number of persons unemployed was 11,742,000, while the civilian labor force was 155,028,000.
Seasonally adjusted Total Nonfarm industry employment (4,048,600) showed a decrease of 300 (>-0.1%) since February 2013, and an increase of 75,300 (1.9%) since March 2012. Private sector employment increased over the month by 600 (<0.1%) and grew over the year by 72,100 (2.2%).
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-themonth gain in jobs (4,200; 0.8%), followed by Information (1,300; 1.8%), Education & Health Services (1,100; 0.2%), Other Services (1,000; 0.7%), and Leisure & Hospitality Services (800; 0.2%). Manufacturing (3,700; 0.8%) had the largest over-the month decrease, followed by Trade, Transportation & Utilities (2,200; 0.3%), Construction (1,800; 1.1%), Government (900; 0.1%) and Mining & Logging (100; 1.8%). Financial Activities reported no change over the month.
Since March 2012, Leisure & Hospitality Services added the largest number of jobs (20,200; 4.9%), followed by Trade, Transportation & Utilities, (16,100; 2.2%), Professional & Business Services (15,600; 2.9%), Education & Health Services (12,800; 2.3%) and Manufacturing (4,200; 1.0%).
The March 2013 not seasonally adjusted Total Nonfarm employment level of 4,037,400 was 29,900 (0.7%) higher than the February 2013 revised employment level of 4,007,500. Among the major industries in North Carolina, Leisure & Hospitality had the largest over-the-month increase in employment at 10,300 (2.5%), followed by Professional & Business Services (6,600; 1.2%), Government (3,700; 0.5%), Trade, Transportation & Utilities (3,700; 0.5%), Construction (2,500; 1.5%), Other Services (1,900; 1.3%), Financial Activities (1,800; 0.9%), Information (1,200; 1.7%), and Education & Health Services (200; <0.1%). Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 81,100 (2.4%) jobs. Leisure & Hospitality experienced the largest employment increase with 20,200 (5.1%), followed by Trade, Transportation & Utilities (17,600; 2.4%), Professional & Business Services (14,400; 2.7%), Education & Health Services (13,300; 2.4%), Government (6,800; 0.9%), Information (3,000; 4.3%), Financial Activities (2,900; 1.4%) and Other Services (2,900; 2.1%).
The Goods Producing sector decreased by 1,000 (0.2%) jobs over the year. Construction declined by 5,100 (3.0%), followed by Mining & Logging (200; 3.6%), while Manufacturing grew by 4,300 (1.0%).
Food had the largest amount of manufacturing employment with 51,200 in March 2013. Chemical and Food had the largest net over-the-year increase at 1,400.
Other manufacturing industries with over-the-year gains were: Fabricated Metal Product, 1,300; Machinery, 900; Computer & Electronic Product, 800; Transportation Equipment, 700; Plastics & Rubber Products, 500; and Wood Product, 200.
Average Weekly Hours for manufacturing production workers in March decreased by 6 minutes from February’s revised rate of 40.9. Average Hourly Earnings increased by $0.13 to $16.77, as Average Weekly Earnings grew by $3.64 to $684.22.
Regular Initial Claims for Unemployment Insurance (UI) totaled 44,155 in March, decreasing 4,083 from February. Forty-four percent of Initial Claims for March 2013 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs.
A total of $105,497,552 in regular UI benefits was paid in March to 103,038 claimants statewide - a decrease of 6,584 claimants since February 2013.
For the 12-month period ending March 2013, $2,692,682,831 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of March was in the red ($2,547,025,534). The State Reserve Fund balance was $55,972,192.
Source: NC Department of Commerce Division of Employment Security.