Friday, March 28, 2008

N.C. Unemployment Is 5 Percent In February

RALEIGH — North Carolina’s unemployment rate moved to 5 percent, according to statistics released today by the state’s Employment Security Commission. The rate has increased for the second consecutive month and it is the first time since December 2005 that unemployment is at 5 percent.
“Our state experienced six months of increasing employment prior to February,” said ESC Chairman Harry E. Payne Jr. “While we are not happy that employment dropped slightly last month, the vital signs of North Carolina’s economy remain strong.”
Overall, employment decreased in February by 19,662 to 4,306,216. Seasonally adjusted unemployment increased by 5,089 workers, to 226,447. Since this time last year, unemployment has increased by 22,866 workers. The labor force, over the year, has increased by 22,790 people. The state rate in February 2007 was 4.5 percent.
Seasonally adjusted, total non-farm industry employment, as gathered through the monthly establishment survey, decreased by 3,700 jobs over the past month, and has increased by 63,500 since February 2007 — to 4,186,000. The largest over-the-month increase occurred in Educational and Health Services (+1,100). The largest decrease was in Professional and Business Services (-2,100).
The next unemployment update is scheduled for Wednesday, April 2, when the county unemployment rate for the month of February will be released.
Read more about the unemployment rate in North Carolina at the ESC website.

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