NC's August Employment Figures Released: Up 0.3% From July

NC's August Employment Figures Released: Up 0.3% From July

By / State News / الثلاثاء, 23 أيلول/سبتمبر 2014 04:00

RALEIGH - September 19th, 2014 - The state’s seasonally adjusted August unemployment rate was 6.8% , increasing 0.3 of a point from July’s revised rate of 6.5%. The national rate decreased 0.1 of a point to 6.1 percent. North Carolina’s August 2014 unemployment rate was 1.2 points lower than a year ago. The number of people employed decreased 28,666 over the month to 4,340,873, and increased 28,938 over the year. The number of people unemployed increased 10,404 over the month to 314,962, and declined 57,505 over the year. Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 12,500 to 4,153,700 in August. The major industry with the largest over-the-month increase was Government at 8,500, followed by Education & Health Services, 2,700; Professional & Business Services, 2,500; Manufacturing, 1,900; Financial Activities, 1,100; Information, 300; and Other Services, 100. Major industries experiencing decreases were Leisure & Hospitality Services, 3,300; and Construction, 1,300. Mining & Logging and Trade, Transportation & Utilities employment remained unchanged over the month.
Since August 2013, Total Nonfarm jobs gained 98,800 with the Total Private sector growing by 94,300 and Government increasing by 4,500. The largest over-the-year increase of major industries was Professional & Business Services at 38,600, followed by Trade, Transportation & Utilities, 18,000; Education & Health Services, 7,000; Leisure & Hospitality Services, 7,000; Construction, 6,700; Other Services, 5,000; Manufacturing, 4,600; Information, 4,500; Government, 4,500; Financial Activities, 2,700; and Mining & Logging, 200.
The next unemployment update is scheduled for Wednesday, October 1, 2014 when the county unemployment rates for August 2014 will be released.
The North Carolina smoothed seasonally adjusted unemployment rate was 6.8 percent in August, increasing 0.3 of a percentage point from the previous month, and falling 1.2 percentage points from August 2013. Over the month, the number of persons unemployed grew by 10,404 (3.4%). The civilian labor force decreased by 18,262 (0.4%) to 4,655,835.Nationally, August’s unemployment rate was 6.1 percent. The number of persons unemployed was 9,591,000, while the civilian labor force was 155,959,000.
Seasonally adjusted Total Nonfarm industry employment (4,153,700) has increased 12,500 (0.3%) since July 2014, and 98,800 (2.4%) since August 2013.1 Private sector employment grew over the month by 4,000 (0.1%) and 94,300 (2.8%) over the year.
Of the major industries for which payroll data are seasonally adjusted, Government had the largest over-the-month gain in jobs (8,500; 1.2%), followed by Education & Health Services (2,700; 0.5%), Professional & Business Services (2,500; 0.4%), Manufacturing (1,900; 0.4%), Financial Activities (1,100; 0.5%), Information (300; 0.4%) and Other Services (100; 0.1%). Leisure & Hospitality Services (3,300; 0.7%) had the largest over-the-month decrease, followed by Construction (1,300; 0.7%).
Mining & Logging and Trade, Transportation & Utilities remained unchanged over the month.Since August 2013, Professional & Business Services added the largest number of jobs (38,600; 7.0%), followed by Trade, Transportation & Utilities (18,000; 2.4%), Education & Health Services (7,000; 1.3%), Leisure & Hospitality Services (7,000; 1.6%), Construction (6,700; 3.9%), Other Services (5,000; 3.4%), Manufacturing (4,600; 1.0%), Government (4,500; 0.6%), Information (4,500; 6.5%), Financial Activities (2,700; 1.3%) and Mining & Logging (200; 3.7%).
The August 2014 not seasonally adjusted Total Nonfarm employment level of 4,148,700 was 72,400 (1.8%) higher than the July 2014 revised employment level of 4,076,300. Among the major industries in North Carolina, Government had the largest over-the-month increase in employment at 68,800 (11.3%), followed by Professional & Business Services (6,400; 1.1%), Education & Health Services (4,100; 0.7%), Manufacturing (2,200; 0.5%) and Information (400; 0.5%). Leisure & Hospitality (5,400; 1.2%) had the largest over-the-month decrease, followed by Trade, Transportation & Utilities (2,100; 0.3%), Construction (1,500; 0.8%) and Other Services (500; 0.3%).
Financial Activities and 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 76,100 (2.2%) jobs.
Professional & Business Services experienced the largest employment increase with 39,100 (7.0%), followed by Trade, Transportation & Utilities (15,800; 2.1%), Education & Health Services (6,800; 1.2%), Leisure & Hospitality Services (6,800; 1.5%), Other Services (4,800; 3.2%), Information (4,700; 6.7%) and Financial Activities (4,200; 2.0%). Government (6,100; 0.9%) had the only over-the-year decrease.
The Goods Producing sector increased by 10,200 (1.6%) jobs over the year. Construction experienced the largest employment increase with 6,100 (3.5%), followed by Manufacturing (3,900; 0.9%) and Mining & Logging (200; 3.6%).
Food had the largest amount of manufacturing employment with 51,300 in August 2014. Furniture & Related Product had the largest net over-the-year increases at 1,800.
Other manufacturing industries with over-the-year gains were: Chemical, 1,300; Wood Product, 900; Fabricated Metal Product, 800; Transportation Equipment, 800; Machinery, 300 and Electrical Equipment, 100.Average Weekly Hours for manufacturing production workers in August increased 42 minutes from July’s revised rate of 43.0.
Average Hourly Earnings fell by $0.05 to $16.69, as Average Weekly Earnings increased by $9.53 to $729.35. Regular Initial Claims for Unemployment Insurance (UI) totaled 20,279 in August, decreasing 3,253 from July. Less than 1 percent of Initial Claims for August 2014 were “attached” to a payroll, meaning that employees expect to be recalled to their jobs.
A total of $33,143,724 in regular UI benefits was paid in August to 39,446 claimants statewide — a increase of 400 claimants since July 2014.
For the 12-month period ending August 2014, $597,940,106 was paid from all programs, both state and federal. The UI Trust Fund balance at the end of August was in the red ($595,409,321). The State Reserve Fund balance was $40,420,345.
The estimates presented in this release are based on sample surveys, administrative data, and modeling and, thus, are subject to sampling and other types of errors. Sampling error is a measure of sampling variability--that is, variation that occurs by chance because a sample rather than the entire population is surveyed. Survey data also are subject to nonsampling errors, such as those which can be introduced into the data collection and processing operations.
Estimates not directly derived from sample surveys are subject to additional errors resulting from the specific estimation processes used. Model-based error measures for seasonally adjusted and not seasonally adjusted data and for over-the-month and over-the-year changes to LAUS estimates are available online at www.bls.gov/lau/lastderr.htm
Measures of sampling error for state CES data at the total nonfarm and supersector levels are available online at www.bls.gov/sae/790stderr.htm
Source: North Carolina Department of Commerce - Labor and Economic Analysis Division.

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