Friday, November 21, 2008

North Carolina Employment Increases, Unemployment at 7%

The North Carolina Employment Security Commission released its monthly report on employment in the state this morining. We thought we would share a small portion of their information.

RALEIGH — Employment in North Carolina increased by 5,076 workers in October while nationwide the number of employed decreased by 297,000. It was the second consecutive monthly employment increase for the state and third in the last four months. The state’s unemployment rate was 7 percent, according to statistics released today by the N.C. Employment Security Commission.

“Unemployment was relatively unchanged in October,” said ESC Chairman Harry E. Payne Jr. “There was a slight increase in unemployment, but we are encouraged by the increase in employment for the third time in four months. Both global and national trends continue to impact the state’s economy and employment picture. The job market throughout the state remains a very competitive one and we see that in our offices every day.”

With the increase, seasonally adjusted employment is at 4,264,519. Unemployment increased by 912 workers, to 318,997. The number of unemployed workers in North Carolina remains at an all-time high. Since this time last year, unemployment has increased by 106,843 people. The labor force, over the year, has increased by 52,873 people. Employment is down by 53,970 workers since October 2007. The state rate in October 2007 was 4.7 percent.

To view the complete report click here.

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