December 2014 ended with positive news for North Carolina’s economy as the number of people unemployed dropped nearly 21 percent and the unemployment rate fell 1.4 percentage points over the year.
Over the month, the number of North Carolinians unemployed decreased 5.8 percent, while the unemployment rate dropped 0.4 of a percentage point to 5.5 percent – the lowest since the April 2008 rate of 5.4 percent. The December rate is 0.1 of a percentage point lower than the U.S. rate of 5.6 percent.
North Carolina employment also fared well based on the monthly establishment survey. Total Nonfarm jobs grew 2.8 percent over the year, showing increases for every major sector except Government. Construction had the largest over-the-year gain at 7.2 percent, followed by 7.1 percent from both the Professional & Business Services and Information sectors.
The next North Carolina employment figures for January 2015 will not be released until March 17 due to annual processing and benchmarking of labor force and employment estimates.