Thu08212014

Last update11:02:17 PM

Font Size

Profile

Menu Style

Cpanel
 
Back You are here: Home News Local and State News State North Carolina’s October Unemployment Rate Down 0.3 % From September

North Carolina’s October Unemployment Rate Down 0.3 % From September

RALEIGH, N.C. : November 22, 2013 - The state’s seasonally adjusted October unemployment rate was 8.0 percent, decreasing 0.3 of a percentage point from September’s revised rate of 8.3 percent. The national rate increased to 7.3 percent from September’s 7.2 percent.
North Carolina’s October 2013 unemployment rate was 1.4 percentage points lower than a year ago. The number of people employed increased 6,225 over the month to 4,294,153, and decreased 1,618 over the year. The number of people unemployed decreased 18,542 over the month to 371,756, and declined 75,811 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 22,200 to 4,087,000 in October. The major industry with the largest over-the-month increase was Education & Health Services at 7,600, follow by Professional & Business Services, 6,400; Government, 6,200; Manufacturing, 2,400; Leisure & Hospitality Services, 1,500; Information, 1,400; Other Services, 1,200; and Trade, Transportation & Utilities, 200. Major industries to experience decreases were Financial Activities, 4,200; and Construction, 500. Mining & Logging employment remained flat over the month.
Since October 2012, Total Nonfarm jobs gained 80,100 with the Total Private sector growing by 80,200 and Government declining by 100. The largest over-the-year increase of major industries was in Professional & Business Services at 27,000, followed by Trade, Transportation & Utilities, 18,000; Education & Health Services, 16,300; Leisure & Hospitality Services, 9,200; Manufacturing, 6,700; Information, 6,200; and Financial Activities, 900. Major industries to experience decreases over the year were Construction, 3,600; Other Services, 400; Government, 100; and Mining & Logging, 100.
Employment estimates for September 2013 were not released as scheduled due to the federal government shutdown. The state’s seasonally adjusted unemployment rate was 8.3 in September, declining 0.4 of a percentage point from August’s revised rate of 8.7. The state’s seasonally adjusted Total Nonfarm industry employment increased 7,900 to 4,064,800 in September.
The next unemployment update is scheduled for Thursday, December 5, 2013 when the county unemployment rates for September and October 2013 will be released.
The North Carolina smoothed seasonally adjusted unemployment rate was 8.0 percent in October, decreasing 0.3 of a percentage point from the previous month, and falling 1.4 percentage points from October 2012. Over the month, the number of persons unemployed fell by 18,542 (4.8%). The civilian labor force declined by 12,317 (0.3%) to 4,665,909.
Nationally, October’s unemployment rate was 7.3 percent. The number of persons unemployed was 11,272,000, while the civilian labor force was 154,839,000.
Seasonally adjusted Total Nonfarm industry employment (4,087,000) has increased 22,200 (0.5%) since September 2013 and 80,100 (2.0%) since October 2012. Private sector employment grew over the month by 16,000 (0.5%) and 80,200 (2.4%) over the year.
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, Education & Health Services had the largest overthe-month gain in jobs (7,600; 1.4%), followed by Professional & Business Services (6,400; 1.2%), Government (6,200; 0.9%), Manufacturing (2,400; 0.5%), Leisure & Hospitality Services (1,500; 0.3%), Information (1,400; 1.9%), Other Services (1,200; 0.8%) and Trade, Transporation & Utilities (200; <0.1%). Financial Actitivities (4,200; 2.0%) had the largest over-the-month decrease, followed by Construction (500; 0.3%). Mining & Logging reported no change over the month.
Since October 2012, Professional & Business Services added the largest number of jobs (27,000; 5.1%), followed by Trade, Transportation & Utilities (18,000; 2.4%) and Education & Health Services (16,300; 3.0%).
The October 2013 not seasonally adjusted Total Nonfarm employment level of 4,114,800 was 31,900 (0.8%) higher than the September 2013 revised employment level of 4,082,900. Among the major industries in North Carolina, Government had the largest over-the-month increase in employment at 14,000 (2.0%), followed by Educational & Health Services (11,400; 2.0%), Professional & Business Services (8,100; 1.4%), Trade, Transportation & Utilities (3,800; 0.5%), Information (1,300; 1.8%), Other Services (1,300; 0.9%) and Manufacturing (400; 0.1%). Leisure & Hospitality (4,900; 1.1%) had the largest overthe-month decrease, followed by Financial Activities (2,300; 1.1%), Construction (1,100; 0.6%) and Mining & Logging (100; 1.8%).
Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 77,700 (2.3%) jobs. Professional & Business Services experienced the largest employment increase with 27,400 (5.1%), followed by Trade, Transportation & Utilities (17,900; 2.4%), Education & Health Services (16,300; 3.0%), Leisure & Hospitality (9,300; 2.2%), Information (6,100; 8.9%), Financial Activities (900; 0.4%) and Government (100; <0.1%).
Other Services (300; 0.2%) had the only over-the-year decrease.
The Goods Producing sector increased by 300 (0.5%) jobs over the year. Construction declined by 3,500 (2.0%), followed by Mining & Logging (100; 1.8%), while Manufacturing grew by 6,600 (1.5%). Food had the largest amount of manufacturing employment with 53,200 in October 2013. Transportation Equipment had the largest net over-the-year increase at 3,600. Other manufacturing industries with over-the-year gains were: Chemical, 1,700; Food, 1,400; Computer & Electronic Product, 1,100; Fabricated Metal Product, 700; Machinery, 700; Beverage & Tobacco Product, 500; Wood Product, 400, and Plastics & Rubber Products, 200.
Average Weekly Hours for manufacturing production workers in October decreased 42 minutes from September’s revised rate of 42.2. Average Hourly Earnings increased by $0.09 to $16.69, as Average Weekly Earnings fell by $7.88 to $692.64.
Regular Initial Claims for Unemployment Insurance (UI) totaled 29,142 in October, increasing 3,091 from September. Less than one percent (0.5%) of Initial Claims for October 2013 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs.
A total of $60,153,855 in regular UI benefits was paid in October to 61,125 claimants statewide — a decrease of 6,344 claimants since September 2013.
For the 12-month period ending October 2013, $1,969,146,391 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of October was in the red ($2,008,586,268). The State Reserve Fund balance was $40,134,142.

Click here to view the full report from the NC Department of Commerce...