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NC unemployment holds steady at 9.7 percent

The state's unemployment rate held steady in April, remaining at 9.7 percent for the second month in a row.

New figures released today by the N.C. Employment Security Commission showed that the state added 2,900 nonfarm jobs during April.

"We continue to be encouraged by the job growth we have seen over the last few months," said ESC Chairman Lynn Holmes.

Since April 2010, the unemployment rate has dropped from 11.1 percent, and the number of unemployed workers has decreased by 70,471.

NC unemployment drops to 9.7 percent

The state's unemployment rate dropped 9.7 percent for February, a slight decline from 9.8 percent in January.

The new rate, released by the N.C. Employment Security Commission today, reflected a non-farm job increase of 17,400 and is markedly down from the 11.4 percent unemployment rate of February 2010.

“We are showing signs of slow but steady progress, with job gains in February and over-the-year," said ESC Chairman Lynn Holmes."Here at the ESC we remain committed to assisting out-of-work citizens with training and services to get then through these hard times and back to work."

Still, the state's unemployment rate remained higher than the national average, which was reported at 8.9 percent for February.

Triangle unemployment dipped in January

The Triangle's unemployment rate dipped slightly in January to 7.9 percent, down 0.2 percent from December's 8.1 percent rate.

Data released today by the NC Employment Security Commission showed that the unemployment rate for January went up in 99 out of 100 counties in the state. However, the ESC figures are not seasonally adjusted. The News & Observer reports figures that have been seasonally adjusted by Wells Fargo Securities in Charlotte.

Despite the number of unemployed workers in the state rising, from 428,495 in December to 463,492 in January, indications are that hiring is picking up, said Mark Vitner, senior economist for Wells Fargo. Some of the bump may be attributed to seasonal workers who were hired the holidays being laid off in January.

"Businesses are being more selective than they have been in the past," he said. "We expect close to 15,000 jobs to be created in the Raleigh-Durham area this year, with gains in business and professional servicces, retailing and health care leading the way."

Triangle unemployment dips to 8.1 percent in December

The Triangle's unemployment rate dipped slightly in December, from 8.3 percent to 8.1 percent.

According to data released this morning by the N.C. Employment Security Commission, the unemployment rate dropped in 66 of North Carolina's 100 counties. However, the ESC data is not seasonally adjusted. The News & Observer reports figures that have been seasonally adjusted by Wells Fargo Securities in Charlotte.

While the decrease seems positive on the surface, the underlying data is less positive, said Mark Vitner, senior economist for Wells Fargo.

"Almost all of the improvement we've seen in the past year has come because people have simply given up looking for work," he said.

Triangle unemployment rises to 8.3 percent

The Triangle's unemployment rate was back on the rise in November, increasing from 8.0 percent in October to 8.3 percent.

Figures reported this morning by the N.C. Employment Security Commission showed that the unemployment rate rose in November in 99 of the state's 100 counties. Those figures are not seasonally adjusted. The News & Observer reports figures that have been seasonally adjusted by Wells Fargo Securities in Charlotte.

Much of the increase may have to do with people who had previously given up a job search re-entering the labor pool, said Mark Vitner, Wells Fargo senior economist. People who are not actively looking for a job are not counted in the unemployment rate figures. Therefore, those re-entering the workforce and resuming their job searches can actually increase the unemployment rate when they do so.

"It’s just a matter of time before we see improvement in the unemployment rate for the right reason, which is that hiring is picking up," he said.

Triangle unemployment remains unchanged at 8.0 percent

The Triangle's unemployment rate refused to budge in October, remaining stubbornly high at 8.0 percent for the third month in a row.

New figures released by the N.C. Employment Security Commission today showed that the employment rate dropped in 66 out of 100 counties in North Carolina. However, the ESC data is not seasonally adjusted. The News & Observer reports figures that have been seasonally adjusted by Wells Fargo Securities in Charlotte.

Many companies put hiring on hold in October, said Mark Vitner, senior economist for Wells Fargo.

"A lot of people who had plans to expand were holding off until after the election before they would implement them," he said. "They may still be on hold. There’s still an awful lot of uncertainty present in the economy, and businesses are just not inclined to take a whole lot of risk."

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