For the first time in nearly a decade, North Carolina’s unemployment rate has fallen to below 5 percent.
For some context, in 2011 — the last year a Democrat occupied the Governor’s mansion — North Carolina’s unemployment rate averaged a staggering 10.5 percent, according to the Bureau of Labor Statistics. Since Governor Pat McCrory took office in January of 2013, the unemployment rate has declined in all 100 counties and more than 300,000 new jobs have been created. The state’s seasonally adjusted June unemployment rate is now at just 4.9 percent.
“In more positive news for our state’s economy, North Carolina has added more than 300,000 new jobs and our unemployment rate has declined to pre-recession levels,” commented Governor McCrory. “This is evidence that our pro-growth economic policies and business-friendly environment has made North Carolina a global destination for jobs, business and talent.”
Here’s the full press release from the North Carolina Department of Commerce:
North Carolina’s June Employment Figures Released
RALEIGH — The state’s seasonally adjusted June unemployment rate was 4.9 percent, decreasing 0.2 of a percentage point from May’s revised rate. The national rate increased 0.2 of a percentage point to 4.9 percent.
North Carolina’s June 2016 unemployment rate was 0.9 of a percentage point lower than a year ago. The number of people employed decreased 3,774 over the month to 4,614,725 and increased 133,046 over the year. The number of people unemployed decreased 10,900 over the month to 239,440, and decreased 35,598 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 19,400 to 4,329,200 in June. The major industries with the largest over-the-month increases were Government at 9,000, followed by Manufacturing, 4,200; Leisure & Hospitality Services, 3,000; Trade, Transportation & Utilities, 2,100; Professional & Business Services, 1,800; Construction, 1,500; Information, 400; Education & Health Services, 300; and Mining & Logging, 100. Major industries experiencing decreases were Financial Activities, 1,600; and Other Services, 1,400.
Since June 2015, Total Nonfarm jobs gained 89,100 with the Total Private sector growing by 79,300 and Government increasing by 9,800. The largest over-the-year increase among major industries was Professional & Business Services at 26,200, followed by Trade, Transportation & Utilities, 23,900; Leisure & Hospitality Services, 12,500; Government, 9,800; Construction, 7,300; Education & Health Services, 6,900; Other Services, 3,200; and Manufacturing, 1,300. Major industries experiencing decreases were Financial Activities, 1,800; and Information, 200. Mining & Logging employment remained unchanged over the year.
The next unemployment update is scheduled for Wednesday, August 3, 2016 when the county unemployment rates for June 2016 will be released.