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<br />NORTH CAROLINAS
<br />Department of Commerce
<br />NORTH CAROLINA ECONOMIC OVERVIEW: AUGUST 2012
<br />North Carolina's July unemployment rate, at 9.6
<br />percent, dropped 1.1 percentage points over July
<br />2011 as the state experienced a slight decline in
<br />employment and a small increase in unemployed
<br />workers. Total Nonfarm employment increased,
<br />mainly behind gains in the Leisure & Hospitality
<br />sector. Housing authorizations, existing home
<br />sales, and foreclosures were up in July compared
<br />to the same month last year. North Carolina
<br />hotel /motel room demand for June was at a record
<br />high this year with more than 2.8 million rooms, up
<br />more than 5 percent from June 2011.
<br />In July, The Conference Board Leading Economic
<br />Index° (LEI) for the U.S LEI returned to its May
<br />level. It increased 0.4 percent to 95.8 (2004 = 100), following a 0.4 percent decline in June, and a 0.3 percent
<br />increase in May. The majority of its components improved, led by large contributions from housing permits
<br />and initial unemployment claims.
<br />Employment Levels Decrease for the Second Time in 11 Months
<br />The number of employed workers
<br />in North Carolina in July was slightly
<br />higher than June levels, according
<br />to the latest data. Month -to -month
<br />employment growth is important,
<br />but year -to -year comparisons are
<br />also useful for determining
<br />economic health. Looking
<br />specifically at the last half of a given
<br />year, North Carolina's employment
<br />remains below 2008
<br />prerecessionary levels. Since 2010,
<br />however, the state has made gains
<br />toward the 2008 levels. In addition
<br />to the growth since last month, the
<br />state added jobs compared to July
<br />2011 as well.
<br />North Carolina Employed Workers from July to December (in Thousands)
<br />July 2008 to Present
<br />4,350
<br />4, 300
<br />4,250
<br />4,200
<br />4,150
<br />4,100
<br />4,050
<br />4,000
<br />3,950
<br />3,900
<br />2008
<br />2009
<br />1 2010
<br />■ 2011
<br />■ 2012
<br />10 \1 Pugu octob No , �
<br />LA US, North Carolina Department of Commerce, Labor and Economic Analysis Division
<br />O•
<br />NC Unemployment Rate Decreased
<br />1.1 PPS
<br />It
<br />From July 2011 to July 2012
<br />Carolina Seas
<br />Conference Board Leading Economic
<br />Index increased
<br />Startof Recession
<br />0.4%
<br />Jul -12
<br />From 94.4 in June to 94.8 in July
<br />(7 /12comparedto7 /11)
<br />NC Hotel Room Demand increased
<br />5.3%
<br />(preliminary)
<br />From June 2011 to June 2012
<br />North Carolina Employed Workers from July to December (in Thousands)
<br />July 2008 to Present
<br />4,350
<br />4, 300
<br />4,250
<br />4,200
<br />4,150
<br />4,100
<br />4,050
<br />4,000
<br />3,950
<br />3,900
<br />2008
<br />2009
<br />1 2010
<br />■ 2011
<br />■ 2012
<br />10 \1 Pugu octob No , �
<br />LA US, North Carolina Department of Commerce, Labor and Economic Analysis Division
<br />LAUS, North Carolina Department of Commerce, Labor and Economic Analysis Division
<br />Labor & Economic Analysis Division; August Mgqr pptnber 1
<br />1 -1 Page 149
<br />North
<br />Carolina Seas
<br />A d ju . Labo
<br />Previous Month
<br />Last Year -Same Month
<br />Startof Recession
<br />Jun -12
<br />Jul -12
<br />(7/12 compared to 6/12)
<br />(7 /12comparedto7 /11)
<br />(7 /12comparedto 12/07)
<br />(revised)
<br />(preliminary)
<br />Change %Chan e
<br />Change % Change
<br />Change %Chan e
<br />Labor Force
<br />4,655,387
<br />4,646,975
<br />(8,412)
<br />0.2%
<br />(3,641)
<br />- 0.1%
<br />111,518
<br />2.5%
<br />Employed
<br />4,216,014
<br />4,202,281
<br />(13,733)
<br />-0.3%
<br />49,263
<br />1.2%
<br />(104,456)
<br />2.4%
<br />Unemployed
<br />439,373
<br />444,694
<br />5,321
<br />1.2%
<br />(52,904)
<br />-10.6%1
<br />215,974
<br />94.4%
<br />LAUS, North Carolina Department of Commerce, Labor and Economic Analysis Division
<br />Labor & Economic Analysis Division; August Mgqr pptnber 1
<br />1 -1 Page 149
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