The state’s seasonally adjusted May 2023 unemployment rate was 3.4 percent, remaining unchanged from April’s revised rate. The national rate increased 0.3 of a percentage point to 3.7 percent.
North Carolina’s unemployment rate was unchanged from a year ago. The number of people employed increased 20,351 over the month to 5,033,140 and increased 42,690 over the year. The number of people unemployed decreased 3,076 over the month to 175,754 and decreased 1,737 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 6,400 to 4,901,500 in May. Major industries experiencing increases were Leisure & Hospitality Services, 4,300; Professional & Business Services, 3,200; Trade, Transportation & Utilities, 2,500; Education & Health Services, 1,200; Government, 700; Information, 200; and Manufacturing, 200. Major industries experiencing decreases were Construction, 2,400; Other Services, 2,200; and Financial Activities, 1,300. Mining & Logging employment remained unchanged.
Seasonally Adjusted Unemployment Rates since May 2022
| Area | May 2022 | June 2022 | July 2022 | August 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.4 | 3.6 | 3.7 | 3.9 | 3.9 | 3.9 | 3.9 | 3.8 | 3.8 | 3.6 | 3.5 | 3.4 | 3.4 |
| U.S. | 3.6 | 3.6 | 3.5 | 3.7 | 3.5 | 3.7 | 3.6 | 3.5 | 3.4 | 3.6 | 3.5 | 3.4 | 3.7 |
* Please note: 2022 numbers have undergone annual revision *
Since May 2022, Total Nonfarm jobs increased 115,000 with the Total Private sector increasing by 109,700 and Government increasing by 5,300. Major industries experiencing increases were Leisure & Hospitality Services, 30,100; Education & Health Services, 27,100; Professional & Business Services, 20,000; Trade, Transportation & Utilities, 12,000; Other Services, 6,000; Government, 5,300; Construction, 4,300; Manufacturing, 3,800; Financial Activities, 3,400; and Information, 3,100. The only major industry experiencing a decrease over the year was Mining & Logging, 100.
The next unemployment update is scheduled for Wednesday, June 28, 2023 when the county unemployment rates for May 2023 will be released.