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Back You are here: Home News Local and State News State N.C. May Unemployment Rate Was 6.4 percent, Up 0.2 From April

N.C. May Unemployment Rate Was 6.4 percent, Up 0.2 From April

RALEIGH, N.C. : June 12th, 2014 - The state’s seasonally adjusted May unemployment rate was 6.4 percent, increasing 0.2 of a percentage point from April’s revised rate of 6.2 percent. The national rate remained unchanged at 6.3 percent.
North Carolina’s May 2014 unemployment rate was 1.9 percentage points lower than a year ago. The number of people employed increased 10,187 over the month to 4,397,574, and increased 81,992 over the year. The number of people unemployed increased 8,795 over the month to 300,917, and declined 90,299 over the year. Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 5,700 to 4,122,300 in May. The major industry with the largest over-the-month increase was Leisure & Hospitality Services at 7,400, followed by Trade, Transportation & Utilities, 2,300; Education & Health Services, 1,800; Construction,
400; Mining & Logging, 100; and Other Services, 100. Major industries experiencing decreases were Professional & Business Services, 3,400; Manufacturing, 2,200; Government, 400; Information, 200; and Financial Activities, 200.
Since May 2013, Total Nonfarm jobs gained 77,600 with the Total Private sector growing by 79,300 and Government declining by 1,700. The largest over-the-year increase of major industries was Professional & Business Services at 27,000, followed by Trade, Transportation & Utilities, 19,700; Leisure & Hospitality Services, 12,100; Education & Health Services, 7,500; Construction, 5,100; Other Services, 4,200; Information, 3,000; and Financial Activities, 1,000. Major industries experiencing decreases over the year were Government, 1,700; and Manufacturing, 300. Mining & Logging employment remained unchanged over the year.
The next unemployment update is scheduled for Tuesday, July 1, 2014 when the county unemployment rates for May 2014 will be released.
The North Carolina smoothed seasonally adjusted unemployment rate was 6.4 percent in May, increasing 0.2 of a percentage point from the previous month, and falling 1.9 percentage points from May 2013. Over the month, the number of persons unemployed grew by 8,795 (3.0%). The civilian labor force increased by 18,982 (0.4%) to 4,698,491.Nationally, May’s unemployment rate was unchanged at 6.3 percent. The number of persons unemployed was 9,799,000, while the civilian labor force was 155,613,000.Seasonally adjusted Total Nonfarm industry employment (4,122,300) has increased 5,700 (0.1%) since April 2014, and 77,600 (1.9%) since May 2013.1 Private sector employment grew over the month by 6,100 (0.2%) and 79,300 (2.4%) over the year.Of the major industries for which payroll data are seasonallyadjusted, Leisure & Hospitality Services had the largest over-the-month gain in jobs (7,400; 1.7%), followed by Trade, Transportation & Utilities (2,300; 0.3%), Education & Health Services (1,800; 0.3%), Construction (400; 0.2%), Mining & Logging (100; 1.9%), and Other Services (100; 0.1%). Professional & Business Services (3,400; 0.6%) had the largest over-the-month decrease, followed by Manufacturing (2,200; 0.5%), Government (400; 0.1%), Financial Activities (200; 0.1%) and Information (200; 0.3%).Since May 2013, Professional & Business Services added the largest number of jobs (27,000; 4.9%), followed by Trade, Transportation & Utilities (19,700; 2.6%), Leisure & Hospitality Services (12,100; 2.8%), Education & Health Services (7,500; 1.3%), Construction (5,100; 3.0%), Other Services (4,200; 2.8%), Information (3,000; 4.3%) and Financial Activities (1,000; 0.5%). Government (1,700; 0.2%) had the largest over-the-month decrease, followed by Manufacturing (300; 0.1%). Mining & Logging remained unchanged.
The May 2014 not seasonally adjusted Total Nonfarm employment level of 4,152,900 was 22,500 (0.5%) higher than the April 2014 revised employment level of 4,130,400. Among the major industries in North Carolina, Leisure & Hospitality Services had the largest over-the-month increase in employment at 20,800 (4.8%), followed by Trade, Transportation & Utilities (4,900; 0.6%), Construction (1,800; 1.0%), Other Services (1,800; 1.2%), Financial Activities (1,700; 0.8%), and Mining & Logging (100; 1.9%). Government (5,900; 0.8%) had the largest over-the-month decrease, followed by Professional & Business Services (1,400; 0.2%), Education & Health Services (600; 0.1%), Information (400; 0.6%) and Manufacturing (300; 0.1%).
Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 71,800 (2.1%) jobs. Professional & Business Services experienced the largest employment increase with 29,900 (5.5%), followed by Trade, Transportation & Utilities (19,700; 2.6%), Leisure & Hospitality Services (12,400; 2.8%), Education & Health Services (6,300; 1.1%), Other Services (4,200; 2.8%), Financial Activities (2,600; 1.3%), and Information (2,100; 3.0%). Government (5,400; 0.7%) had the only over-the-month decrease.The Goods Producing sector increased by 3,700 (0.6%) jobs over the year. Construction grew by 3,500 (2.0%), while Manufacturing rose by 200 (<0.1%). Mining & Logging remained unchanged over the month.Food had the largest amount of manufacturing employment with 51,700 in May 2014.
Chemical had the largest net over-the-year increase at 1,600. Other manufacturing industries with over-the-year gains were: Wood Product, 1,200; Furniture & Related Product, 1,000; Transportation Equipment, 1,000; Machinery, 500; Fabricated Metal Product, 200; Plastics & Rubber Products, 200; and Food, 100.Average Weekly Hours for manufacturing production workers in May decreased 24 minutes from April’s revised rate of 43.6. Average Hourly Earnings grew by $0.08 to $16.80, as Average Weekly Earnings declined by $3.23 to $725.76. Regular Initial Claims for Unemployment Insurance (UI) totaled 23,306 in May, increasing 1,318 from April. Less than 1 percent of Initial Claims for May 2014 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs. A total of $35,375,860 in regular UI benefits was paid in May to 42,382 claimants statewide — a decrease of 2,510 claimants since April 2014.For the 12-month period ending May 2014, $869,237,717 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of May was in the red ($1,032,760,576). The State Reserve Fund balance was $77,074,228.
Source: North Carolina Department of Commerce - Labor and Economic Analysis Division.