North Carolina's Unemployment Rate Decreases 0.4% For December

North Carolina's Unemployment Rate Decreases 0.4% For December

By / State News / الأربعاء, 28 كانون2/يناير 2015 05:00

RALEIGH, N.C. : January 27th, 2015 - The state’s seasonally adjusted December unemployment rate was 5.5 percent, decreasing 0.4 of a percentage point from November’s revised rate of 5.9 percent. After the monthly revision, November’s preliminary rate of 5.8 percent increased to 5.9 percent. The national rate is at 5.6 percent.
North Carolina’s December 2014 unemployment rate was 1.4 percentage points lower than a year ago. The number of people employed increased 1,283 over the month to 4,364,022, and increased 25,339 over the year. The number of people unemployed decreased 15,843 over the month to 255,510, and declined 67,584 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 15,100 to 4,218,700 in December. Leisure & Hospitality Services, Professional & Business Services, and Trade, Transportation & Utilities are three major industries that had an over-the-month increase of 3,600, followed by Construction, 4,100; Financial Activities, 1,200; Information, 200; and Mining & Logging, 100. Major industries experiencing decreases were Government, 900; Education & Health Services, 200; Manufacturing, and Other Services both decreased by 100 jobs.
Since December 2013, Total Nonfarm jobs gained 114,500 with the Total Private sector growing by 119,900 and Government decreasing by 5,400. The largest over-the-year increase of major industries was Professional & Business Services at 40,200, followed by Trade, Transportation & Utilities, 17,600; Construction, 12,500; Leisure & Hospitality Services, 11,800; Education & Health Services, 10,400; Manufacturing, 9,500; Financial Activities, 8,100; Other Services, 4,700; Information, 5,000; and Mining & Logging, 100. The only major industry experiencing a decrease over the year was Government, 5,400. The next unemployment update is scheduled for Wednesday, February 4, 2015 when the county unemployment rates for December 2014 will be released.
The North Carolina smoothed seasonally adjusted unemployment rate was 5.5 percent in December, decreasing 0.4 of a percentage point from the previous month, and falling 1.4 percentage points from December 2013. Over the month, the number of persons unemployed fell by 15,843 (5.8%). The civilian labor force declined by 14,560 (0.3%) to 4,619,532.Nationally, December’s unemployment rate was 5.6 percent. The number of persons unemployed was 8,688,000, while the civilian labor force was 156,129,000.
Seasonally adjusted Total Nonfarm industry employment (4,218,700) has increased 15,100 (0.4%) since November 2014, and 114,500 (2.8%) since December 2013.1 Private sector employment grew over the month by 16,000 (0.5%) and 119,900 (3.5%) over the year.
Of the major industries for which payroll data are seasonally adjusted, Construction had the largest over-the-month gain in jobs (4,100; 2.3%), followed by Leisure & Hospitality Services (3,600; 0.8%), Professional & Business Services (3,600; 0.6), Trade, Transportation & Utilities (3,600; 0.5%), Financial Activities (1,200; 0.6%), Information (200; 0.3%) and Mining & Logging (100; 1.8%). Government (900; 0.1%) had the largest over-the-month decrease, followed by Education & Health Services (200; >-0.1%), Other Services (100; 0.1%), and Manufacturing (100; >-0.1%).
Since December 2013, Professional & Business Services added the largest number of jobs (40,200; 7.1%), followed by Trade, Transportation & Utilities (17,600; 2.3%), Construction (12,500; 7.2%), Leisure & Hospitality Services (11,800; 2.7%), Education & Health Services (10,400; 1.8%), Manufacturing (9,500; 2.1%), Financial Activities (8,100; 3.9%), Information (5,000; 7.1%), Other Services (4,700; 3.1%), and Mining & Logging (100; 1.8%). Government was the only industry to report a loss over the year at 5,400 (0.8%).
The December 2014 not seasonally adjusted Total Nonfarm employment level of 4,241,000 was 3,300 (0.1%) higher than the November 2014 revised employment level of 4,237,700.
Among the major industries in North Carolina, Trade, Transportation & Utilities had the largest over-the-month increase in employment at 9,300 (1.2%), followed by Manufacturing (1,300; 0.3%), Construction (900; 0.5%), Financial Activities (600; 0.3%), Information (500; 0.7%), and Other Services (100; 0.1%). Government (5,400; 0.7%) had the largest over-the-month decrease, followed by Leisure & Hospitality (2,600; 0.6%), Education & Health Services (1,100; 0.2%), and Professional & Business Services (300; >-0.1%). Mining & Logging reported no change over the month.
Over the year, the Service Providing sector (all industries except Mining & Logging, Construction, and Manufacturing) showed an increase of 93,100 (2.7%) jobs. Professional & Business Services experienced the largest employment increase with 40,300 (7.2%), followed by Trade, Transportation & Utilities (18,100; 2.3%), Leisure & Hospitality (11,700; 2.8%), Education & Health Services (10,800; 1.9%), Financial Activities (7,800; 3.8%), Information (5,000; 7.1%), and Other Services (4,700; 3.1%). Government (5,300; 0.7%) had the only over-the-year decrease.
The Goods Producing sector grew by 22,300 (3.6%) jobs over the year. Construction experienced the largest employment increase with 12,700 (7.3%), followed by Manufacturing (9,500; 2.1%), and Mining & Logging (100; 1.8%).Food had the largest amount of manufacturing employment with 50,800 in December 2014. Fabricated Metal Product had the largest net over-the-year increase at 2,800. Other manufacturing industries with gains were: Furniture & Related Product, 1,600; Beverage & Tobacco Product, 1,500; Transportation Equipment, 1,100; Wood Product, 1,100; Chemical, 900; and Machinery, 200.Average Weekly Hours for manufacturing production workers in December decreased 6 minutes from November’s revised rate of 43.5.
Average Hourly Earnings fell by $0.03 to $16.73, as Average Weekly Earnings dropped by $2.98 to $726.08. Regular Initial Claims for Unemployment Insurance (UI) totaled 26,767 in December, increasing 6,756 from November. Less than 1 percent of Initial Claims for December 2014 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs. A total of $27,590,971 in regular UI benefits was paid in December to 31,806 claimants statewide — an increase of 694 claimants since November 2014.
For the 12-month period ending December 2014, $440,747,018 was paid under the Regular UI Program. The UI Trust Fund balance at the end of December was in the red ($430,825,846). The State Reserve Fund balance was $13,496,691.
Source: NC Dept. of Commerce - Labor and Economic Analysis Division

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