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The decrease in unemployed workers in the labor force pushed the unemployment rate for the State down this
<br />month, from 10.5 percent in September to 10.4 percent in October on a seasonally adjusted basis. The decline
<br />is the first drop in the unemployment rate since March of this year. The U.S. unemployment rate fell from
<br />September to October as well. The current November release of U.S. unemployment shows the rate at 8.6
<br />percent, reflecting a nationwide increase in employment and decrease in unemployment.
<br />N.C. Department of Commerce, Division of Employment Security, Labor Force Statistics
<br />Initial unemployment benefit claims are a leading indicator of future unemployment rates. New initial
<br />claimants totaled 53,752 in October, an increase of 2,503 from September. The number of claimants was
<br />significantly lower than October 2010 with nearly 4,000 fewer first time claimants. Since hiring and firing tend
<br />to follow seasonal trends (more activity in the spring and fall) the lower October 2011 claims compared to the
<br />previous year is a positive sign for the economy.
<br />Initial
<br />Unemployment
<br />Sep -11 Oct -11
<br />Previous Month
<br />(10/11 compared to 9/11)
<br />Change I %Change
<br />Last Year -Same Month
<br />(10/11 compared to 10/10) 12 Month Average
<br />Change I %Change (Beg.of11 /10- Endof10 /11)
<br />North Carolina 51,249 53,7521
<br />2,503
<br />1 4.9%
<br />Unemployment
<br />Previous Month
<br />Last Year -Same Month
<br />Start of Recession
<br />Sector
<br />Sep -11
<br />Oct -11
<br />(10/11 compared to 9/11)
<br />(10/11 compared to 10 /10)
<br />(10/11 compared to 12/07)
<br />(revised)
<br />(preliminary)
<br />%Point Change
<br />%Point Change
<br />%Point Change
<br />North Carolina
<br />10.5%
<br />10.4%
<br />-0.2%
<br />0.5%
<br />5.4%
<br />United States
<br />9.1%
<br />9.0%
<br />-0.1%
<br />-0.6%
<br />4.0%
<br />N.C. Department of Commerce, Division of Employment Security, Labor Force Statistics
<br />Initial unemployment benefit claims are a leading indicator of future unemployment rates. New initial
<br />claimants totaled 53,752 in October, an increase of 2,503 from September. The number of claimants was
<br />significantly lower than October 2010 with nearly 4,000 fewer first time claimants. Since hiring and firing tend
<br />to follow seasonal trends (more activity in the spring and fall) the lower October 2011 claims compared to the
<br />previous year is a positive sign for the economy.
<br />Initial
<br />Unemployment
<br />Sep -11 Oct -11
<br />Previous Month
<br />(10/11 compared to 9/11)
<br />Change I %Change
<br />Last Year -Same Month
<br />(10/11 compared to 10/10) 12 Month Average
<br />Change I %Change (Beg.of11 /10- Endof10 /11)
<br />North Carolina 51,249 53,7521
<br />2,503
<br />1 4.9%
<br />(3,392)
<br />F -5.9% 57,858
<br />N.C. Department of Commerce, Division of Employment Security; Labor Market Information
<br />North Carolina Nonfarm Employment growth remains flat
<br />Preliminary data' suggest:
<br />• Since last month (September 2011) the economy experienced a net gain of 5,500 jobs.
<br />• Leisure and Hospitality comprised 44 percent of gross job losses.
<br />• The Government sector saw the largest growth over the period.
<br />• Over the past twelve months employment has risen by over 11,000 jobs.
<br />• Only 2 sectors (Government and Construction) have experienced declines of over 4,000 jobs.
<br />• Manufacturing has posted its 10 consecutive month of year- over -year growth after showing
<br />continuous year- over -year declines since August of 1998.
<br />• Since the start of the recession
<br />o Government sector employment has been below pre- recessionary levels since September 2010.
<br />U.S. Bureau of Labor Statistics, Economy at a Glance Data, Nonfarm Wage and Salary Employment
<br />1
<br />The Bureau of Labor Statistics releases a preliminary estimate of sector employment on a monthly basis. These values are revised with a rolling 3 month lag.
<br />Policy, Research & Strategic Planning; November M1ctit 6lrtnber 1
<br />1 -1 Page 413
<br />North
<br />Carolina
<br />Seasonally Adjusted
<br />Nonfarm Em p l o y ment
<br />Previous Month
<br />.
<br />LastYear - SameMonth
<br />Startof Recession
<br />Sector
<br />Sep -11
<br />Oct -11
<br />(10/11 compared to 9/11)
<br />(10/11 compared to 10 /10)
<br />(10/11 compared to 12/07)
<br />(revised)
<br />(preliminary)
<br />Change %Change
<br />Change I %Change
<br />Change %Change
<br />Mining &Logging
<br />5,700
<br />5,700
<br />0
<br />0.0%
<br />0
<br />0.0%
<br />(1,200)
<br />-17.4%
<br />Construction
<br />172,400
<br />170,600
<br />(1,800)
<br />-1.0%
<br />(4,900)
<br />-2.8%
<br />(81,600)
<br />-32.4%
<br />Manufacturing
<br />433,200
<br />431,500
<br />(1,700)
<br />-0.4%
<br />1,100
<br />0.3%
<br />(101,500)
<br />-19.0%
<br />Trade, Transportation, &Utilities
<br />715,400
<br />714,200
<br />(1,200)
<br />-0.2%
<br />5,300
<br />0.7%
<br />(66,200)
<br />-8.5%
<br />Information
<br />68,300
<br />68,100
<br />(200)
<br />-0.3%
<br />(200)
<br />-0.3%
<br />(4,100)
<br />-5.7%
<br />Financial Activities
<br />200,600
<br />201,200
<br />600
<br />0.3%
<br />1,200
<br />0.6%
<br />(10,700)
<br />-5.0%
<br />Professional & Business Services
<br />494,600
<br />498,200
<br />3,600
<br />0.7%
<br />9,400
<br />1.9%
<br />(7,800)
<br />-1.5%
<br />Education & Health Services
<br />537,400
<br />540,900
<br />3,500
<br />0.7%
<br />4,400
<br />0.8%
<br />7,400
<br />1.4%
<br />Leisure &Hospitality
<br />405,900
<br />402,200
<br />(3,700)
<br />-0.9%
<br />6,600
<br />1.7%
<br />(3,200)
<br />-0.8%
<br />Other Services
<br />154,800
<br />156,400
<br />1,600
<br />1.0%
<br />(1,600)
<br />-1.0%
<br />(19,100)
<br />-10.9%
<br />Government
<br />677,500
<br />682,300
<br />4,800
<br />0.7%
<br />(10,000)
<br />-1.4%
<br />(12,500)
<br />-1.8%
<br />Total Nonfarm Employment
<br />3,865,800
<br />3,871,300
<br />5,500
<br />1 0.1%1
<br />11,300
<br />1 0.3%
<br />(300,500)
<br />-7.2%
<br />U.S. Bureau of Labor Statistics, Economy at a Glance Data, Nonfarm Wage and Salary Employment
<br />1
<br />The Bureau of Labor Statistics releases a preliminary estimate of sector employment on a monthly basis. These values are revised with a rolling 3 month lag.
<br />Policy, Research & Strategic Planning; November M1ctit 6lrtnber 1
<br />1 -1 Page 413
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