Blogs

newsobserver.com blogs

Triangle unemployment rate rises to 8.7 percent

The Triangle's jobless rate rose significantly in August, news that is certain to raise concerns about whether the economy is headed back into recession.

The region's unemployment rate rose to 8.7 percent in August, according to data released Friday by the N.C. Employment Security Commission and seasonally adjusted by Wells Fargo Securities economists in Charlotte.

That's up from 8.3 percent in July.

"The economy worsened in August across the country and in North Carolina and there's really no escaping that fact," said Wells Fargo senior economist Mark Vitner.

Triangle jobless rate rises to 8.2 percent

The Triangle's job market continues to outshine the rest of the state, but bleak unemployment conditions aren't improving as the economic recovery sputters.

This region's jobless rate rose to 8.2 percent in July, according to data released Friday by the N.C. Employment Security Commission and seasonally adjusted by Wells Fargo Securities economists in Charlotte. That's up from 8.1 percent in June.

Cuts in state government and education are hurting the local economy, and private employers are increasingly reluctant to ramp up hiring, said Wells Fargo senior economist Mark Vitner.

"The cost of making a mistake is much greater in a slower growing economy," Vitner said. "Businesses have become much more hesitant about expanding."

N.C. jobless rate rises to 9.9 percent

North Carolina's jobless rate rose to 9.9 percent in June, the highest level since last fall and the first increase in more than a year.

The increase, from 9.7 percent in May, reflects employers' reluctance to hire as uncertainty about the economic recovery worsens.

And the state budget crunch also took a toll. There were 10,200 fewer government jobs in June, as the state, community colleges and universities eliminated positions.

North Carolina's unemployment rate remains well above the national average, which also rose in June to 9.2 percent. This state has a higher concentration of manufacturing jobs, which were hit hard during the recession.

A year ago, the state rate was 10.5 percent. High fuel costs, a lingering housing slump and other factors have eroded confidence that hiring will rebound quickly in the wake of the recession.

Triangle jobs surge biggest in three years

The Triangle's jobless rate held steady in March as the region gained nearly 5,000 jobs, the biggest single-month gain in more than three years.

The area's unemployment rate was 7.5 percent last month, according to data issued this morning by the N.C. Employment Security Commission and seasonally adjusted by Wells Fargo Securities in Charlotte.

That puts the Triangle's economic recovery far ahead the rest of the state, which posted a jobless rate of 9.7 percent last month.

 

State unemployment rate dipped slightly in March to 9.7 percent

North Carolina's unemployment rate dipped slightly in March to 9.7 percent, the state's Employment Security Commission reported this morning.

The rate was 9.8 percent in February. It has now been under 10 percent for six straight months.

The state created 13,900 nonfarm jobs in March, with the largest job increases occurring in business services, which added 6,000 jobs.

The number of people classified as unemployed decreased by 1,949.

For the year, the state has now added 36,500 jobs.

Despite declining 1.4 percentage points over the last year, North Carolina's unemployment remains well above the national rate of 8.8 percent.

State unemployment rate up slightly in Dec. to 9.8 percent

North Carolina's unemployment rate edged up in December, rising from 9.7 percent to 9.8 percent, according to statistics released this morning by the state's Employment Security Commission.

The state added 2,300 nonfarm jobs in December and added 10,400 jobs for the entire year.

North Carolina's unemployment rate is now well above the national rate of 9.4 percent. The national rate, reported earlier this month, dropped from 9.8 percent to 9.4 percent.

 

State unemployment rate dips slightly; now even with national rate

North Carolina’s unemployment dipped slightly in September, the seventh straight month the rate has declined.

The state's jobless rate, released this morning by the N.C. Employment Security Commission, was 9.6 percent in August, down from 9.7 percent in August.

September marks the first month since March 2008 that the state’s unemployment rate has not been higher than the national rate, which is also 9.6 percent.

“The September labor force data reflected a small decrease in the unemployment rate,” said ESC Chairman Lynn R. Holmes.

“While the monthly jobs numbers indicated that government employment had the largest increase, the state experienced gains in several other sectors as well. Over the year we have experienced encouraging job gains in several employment sectors.”

The state added 10,100 jobs overall in September, with the largest increase occurring in the government sector. Manufacturing posted the largest declines at 3,800 jobs.

Since September 2009, non-farm employment has increased by 49,300 jobs.

Triangle jobless rate falls to 7.5 percent

The unemployment rate in the Triangle dropped to 7.5 percent in July, as this region remains the healthiest job market in the state.

The rate is still near historical highs, and thousands of local job seekers aren't finding much relief as employers are still nervous about hiring during a shaky economy.

The July data were released this morning by the N.C. Employment Security Commission and adjusted for seasonal effects by Wells Fargo Securities economists in Charlotte. The local jobless rate was down from a revised 7.6 percent in June.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

Want to post a comment?

In order to join the conversation, you must be a member of newsobserver.com. Click here to register or to log in.
Advertisements