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<br />NORTH CAROLINA.3
<br />Department of Commerce,
<br />NORTH CAROLINA ECONOMIC OVERVIEW: FEBRUARY 2012
<br />North Carolina's unemployment rate decreased
<br />again this month behind continued employment
<br />gains. Nonfarm employment saw the highest
<br />month -to -month percent gain since October 2010.
<br />Housing authorizations and existing home sales
<br />were up this month compared to the same month
<br />last year while foreclosure filing fell by 16 percent
<br />over the same period. Hotel occupancy, which
<br />reflects tourism activity in the State, increased in
<br />January compared to January of last year by 2.8
<br />percent.
<br />National employment data for January displayed
<br />an uptick alongside a decrease in unemployed
<br />workers allowing the unemployment rate to fall to 8.3 percent. US Real GDP grew 3.0 percent according to the
<br />"third" estimate for the 4 th quarter of 2011, compared to the 3 rd quarter of 2011.
<br />Employment levels increase for the 5 th consecutive month
<br />The number of employed workers in North Caro Iina Employed Workers from January to June (in Thousands)
<br />North Carolina in January was higher
<br />INDICATORS KEY
<br />than December levels according to the
<br />N.C. Unemployment Rate decreased
<br />0.2%
<br />It
<br />10.4% in December to 10.2% in January
<br />is the fifth consecutive month of growth
<br />U.S. Unemployment Rate decreased
<br />Statistics
<br />Last Year -Same Month
<br />0.2%
<br />From 8.5% in December to 8.3% in January
<br />Jan -12
<br />NC Hotel occupancy increased
<br />■zoos
<br />2.8 ° 0
<br />4,200
<br />From January 2011 to January 2012
<br />Employment levels increase for the 5 th consecutive month
<br />The number of employed workers in North Caro Iina Employed Workers from January to June (in Thousands)
<br />North Carolina in January was higher
<br />January 2008 to Present
<br />than December levels according to the
<br />4,400
<br />latest data. The increase in employment
<br />4,350
<br />North
<br />is the fifth consecutive month of growth
<br />4,300
<br />Statistics
<br />Last Year -Same Month
<br />Startof Recession
<br />4,30
<br />Jan -12
<br />(1/12 compared to 12/12)
<br />■zoos
<br />for the State. Another method of
<br />4,200
<br />(revised)
<br />(preliminary)
<br />Change %Change
<br />measuring employment growth is to
<br />Change %Change
<br />Labor Force
<br />4,677,236
<br />2009
<br />4,150
<br />0.1%
<br />51,248
<br />1.1%
<br />compare the current month to the same
<br />4,100
<br />Employed
<br />4,192,992
<br />■ 2010
<br />14,213
<br />0.3%
<br />month last year. Comparing January
<br />4,050
<br />(126,953)
<br />-2.9%
<br />■ 2011
<br />2012 to January 2011 employment has
<br />4,000
<br />(7,968)
<br />-1.6%
<br />■ 2012
<br />-2.2%
<br />3,950
<br />110.5%
<br />increased 1.5 percent. The State has
<br />3,900
<br />experienced year- over -year growth in
<br />3,850
<br />employment every month since October
<br />jaru aVN Febr 'JaCV Ma rch M C',\ Mal lure
<br />2010. Looking specifically at the first 6
<br />N.C. Department of Commerce, Division of Employment Security, Labor Force Statistics
<br />months of the year, North Carolina
<br />employment remains below pre- recessionary levels. Since 2010, however, we've made gains every month.
<br />Unemployment, which decreased monthly
<br />from September to December in 2011, continued to fall in January.
<br />The number of unemployed workers in the
<br />State fell 1.6 percent from December to January.
<br />N.C. Department of Commerce, Division of Employment Security, Labor Force Statistics
<br />Policy, Research & Strategic Planning; February 2012 Report
<br />1 -4 Page 259
<br />North
<br />Carolina Seas
<br />La bo r Force
<br />Previous Month
<br />Statistics
<br />Last Year -Same Month
<br />Startof Recession
<br />Dec -11
<br />Jan -12
<br />(1/12 compared to 12/12)
<br />(1/12 compared to 1/11)
<br />(1/12 compa red to 12107)
<br />(revised)
<br />(preliminary)
<br />Change %Change
<br />Change I %Change
<br />Change %Change
<br />Labor Force
<br />4,677,236
<br />4,683,481
<br />6,245
<br />0.1%
<br />51,248
<br />1.1%
<br />123,084
<br />2.7%
<br />Employed
<br />4,192,992
<br />4,207,205
<br />14,213
<br />0.3%
<br />61,984
<br />1.5%
<br />(126,953)
<br />-2.9%
<br />Unemployed
<br />484,244
<br />476,276
<br />(7,968)
<br />-1.6%
<br />(10,736)
<br />-2.2%
<br />250,037
<br />110.5%
<br />N.C. Department of Commerce, Division of Employment Security, Labor Force Statistics
<br />Policy, Research & Strategic Planning; February 2012 Report
<br />1 -4 Page 259
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