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Back You are here: Home News Local and State News State NC Unemployment Rate For May Decreased To 8.8 Percent

NC Unemployment Rate For May Decreased To 8.8 Percent

RALEIGH, N.C. : June 21, 2013 - The North Carolina smoothed seasonally adjusted unemployment rate was 8.8 percent in May, decreasing 0.1 of a percentage point from the previous month, and 0.7 of a percentage point from May 2012. Over the month, the number of persons unemployed fell by 2,451 (0.6%). The civilian labor force declined by 1,433 (>-0.1%) to 4,720,079. Nationally, May’s unemployment rate was 7.6 percent. The number of persons unemployed was 11,760,000, while the civilian labor force was 155,658,000.
Seasonally adjusted Total Nonfarm industry employment (4,041,900) has decreased 5,900 (0.1%) since April 2013, and increased 56,300 (1.4%) since May 2012. Private sector employment fell over the month by 4,300 (0.1%), but grew over the year by 54,800 (1.7%).
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, Leisure & Hospitality Services had the largest over-the-month gain in jobs (6,300; 1.5%), followed by Other Services (1,400; 1.0%). Trade, Transportation & Utilities (3,800; 0.5%) had the largest over-the-month decrease, followed by Construction (2,600; 1.5%), Professional & Business Services (2,000; 0.4%), Financial Activities (1,700; 0.8%), Government (1,600; 0.2%), Information (1,100; 1.5%), Education & Health Services (600; 0.1%) and Manufacturing (200; >-0.1%). Mining & Logging reported no change over the month.
Since May 2012, Leisure & Hospitality Services added the largest number of jobs (25,200; 6.1%), followed by Professional & Business Services (11,200; 2.1%), Education & Health Services (8,600; 1.6%) and Trade, Transportation & Utilities (8,400; 1.1%).
The May 2013 not seasonally adjusted Total Nonfarm employment level of 4,079,000 was 19,000 (0.5%) higher than the April 2013 revised employment level of 4,060,000.
Among the major industries in North Carolina, Leisure & Hospitality had the largest over-the-month increase in employment at 17,200 (4.0%), followed by Professional & Business Services (2,100; 0.4%), Manufacturing (1,900; 0.4%), Other Services (1,900; 1.3%), Trade, Transportation & Utilities (1,700; 0.2%), Construction (700; 0.4%) and Financial Activities (500; 0.2%).
Government (5,100; 0.7%) had the largest over-the-month decrease, followed by Education & Health Services (1,300; 0.2%), and Information (600; 0.8%).
Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 64,000 (1.9%) jobs. Leisure &
Hospitality experienced the largest employment increase with 22,300 (5.3%), followed by Professional & Business Services (16,500; 3.1%), Trade, Transportation & Utilities (11,500; 1.5%), Education & Health Services (8,300; 1.5%), Financial Activities (3,900; 1.9%), Information (2,200; 3.2%) and Other Services (500; 0.4%). Government (1,200; 0.2%) reported the only decrease.
The Goods Producing sector decreased by 2,300 (0.4%) jobs over the year. Construction declined by 4,900 (2.8%), followed by Mining & Logging (100; 1.8%), while Manufacturing grew by 2,700 (0.6%).
Food had the largest amount of manufacturing employment with 52,100 in May 2013. Fabricated Metal Product had the largest net over-the-year increase at 1,700. Other manufacturing industries with over-the-year gains were: Chemical, 1,500; Food, 1,500; Machinery, 800; Computer & Electronic Product, 700; Transportation Equipment, 500; Plastics & Rubber Products, 300; and Wood Product, 300.
Average Weekly Hours for manufacturing production workers in May showed no increase from April’s revised rate of 41.2.
Average Hourly Earnings decreased by $0.03 to $16.74, as Average Weekly Earnings fell by $1.23 to $689.69.
Regular Initial Claims for Unemployment Insurance (UI) totaled 48,287 in May, decreasing 2,039 from April.
Forty percent of Initial Claims for May 2013 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs.
A total of $88,381,312 in regular UI benefits was paid in May to 90,858 claimants statewide — a decrease of 6,784 claimants since April 2013.
For the 12-month period ending May 2013, $2,554,112,036 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of May was in the red ($2,066,961,520). The State Reserve Fund balance was $80,060,536.
The next unemployment update is scheduled for Tuesday, July 2, 2013 when the county unemployment rates for May 2013 will be released.
Source: North Carolina Department of Commerce - Labor and Economic Analysis Division.