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NORTH CAROLINA 3�
<br />Department of Commerce.�`r „-
<br />NORTH CAROLINA ECONOMIC OVERVIEW: NOVEMBER 2010
<br />National and state indicators have remained relatively
<br />stable recently, with employment and other indicators
<br />holding steady over the last 2 months. Most indicators are
<br />still well below pre- recessionary levels, but both state and
<br />national trends indicate that economic growth is occurring.
<br />Businesses have still been reluctant to increase hiring,
<br />which is a reflection of consumer reluctance to spend in
<br />the current economy. The housing market has seen
<br />foreclosures increase after a minor reprieve during the
<br />foreclosure freeze. Despite the setbacks in employment
<br />and housing, economic recovery is on track increasing
<br />hopes for growth and increased employment into 2011.
<br />Unemployment rate
<br />9.6%
<br />Down 0.1 percentage point from September,
<br />but decline the result of shrinking labor force
<br />Properties with foreclosure filings
<br />+13.0%
<br />4,818 new filings in October; 4,263 in
<br />September
<br />Unemployment, employment, and labor force shrink from previous month
<br />The number of employed workers
<br />decreased by 5,270 between
<br />September and October while the
<br />number of unemployed workers
<br />declined by 6,882, resulting in a 0.3%
<br />decrease in the size of the labor force (-
<br />12,152). This trend appeared in month -
<br />over -month changes from May to June
<br />of this year and has continued since.
<br />Since January 2010 the labor force has
<br />decreased by 69,585, while
<br />employment has increased by 5,502.
<br />This trend is different than what
<br />occurred from January to October of
<br />2009, when the labor force decreased
<br />by only 21,356 and the employment
<br />losses (76,645) far outpaced losses in
<br />the labor force.
<br />N.C. Employment Security Commission, Labor Force Statistics
<br />Policy, Research & Strategic Planning; November L�Bptnber1
<br />1 -1
<br />Seasonally Adjusted Unemployment Rate
<br />Dec. 2007 - November 2010 U.S.
<br />12
<br />Start of Recession to Present N.C.
<br />10
<br />Oct -10
<br />Previous Month
<br />Last Year -Same Month
<br />Start of Recession
<br />8
<br />(preliminary)
<br />(10/10 comparedto9 /10)
<br />(10/10 compared to 10/09)
<br />(10/10 compared to 12/07)
<br />6
<br />Change % Change
<br />Change I % Change
<br />Change % Change
<br />Labor Force
<br />4
<br />4,468,491
<br />(12,152)
<br />-0.3%
<br />(60,671)
<br />-1.3%
<br />2
<br />-0.9%
<br />Employed
<br />4,046,670
<br />4,041,400
<br />(5,270)
<br />0
<br />6,692
<br />0.2%
<br />(273,513)
<br />-6.0%
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<br />N.C. Employment Security Commission, Labor Force Statistics
<br />N.C. Employment Security Commission, Labor Force Statistics
<br />Policy, Research & Strategic Planning; November L�Bptnber1
<br />1 -1
<br />North Carolina
<br />Seasonally
<br />Adjust ••
<br />Sept -10
<br />Oct -10
<br />Previous Month
<br />Last Year -Same Month
<br />Start of Recession
<br />(revised)
<br />(preliminary)
<br />(10/10 comparedto9 /10)
<br />(10/10 compared to 10/09)
<br />(10/10 compared to 12/07)
<br />Change % Change
<br />Change I % Change
<br />Change % Change
<br />Labor Force
<br />4,480,643
<br />4,468,491
<br />(12,152)
<br />-0.3%
<br />(60,671)
<br />-1.3%
<br />(60,211)
<br />-0.9%
<br />Employed
<br />4,046,670
<br />4,041,400
<br />(5,270)
<br />-0.1%
<br />6,692
<br />0.2%
<br />(273,513)
<br />-6.0%
<br />Unemployed
<br />433,9731
<br />427,091
<br />(6,882)
<br />-1.6%
<br />(67,363)
<br />-13.6%
<br />213,302
<br />98.0%
<br />N.C. Employment Security Commission, Labor Force Statistics
<br />Policy, Research & Strategic Planning; November L�Bptnber1
<br />1 -1
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