The state’s seasonally adjusted January 2024 unemployment rate was 3.5 percent, decreasing 0.1 of a percentage point from December’s revised rate. The national rate remained unchanged at 3.7 percent.
North Carolina’s unemployment rate was unchanged from a year ago. The number of people employed increased 6,721 over the month to 5,068,208 and increased 64,125 over the year. The number of people unemployed decreased 1,640 over the month to 185,760 and increased 2,495 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 11,600 to 4,977,200 in January. Major industries experiencing increases were Professional & Business Services, 5,900; Construction, 4,000; Education & Health Services, 1,900; Other Services, 900; Financial Activities, 600; Manufacturing, 400; Government, 300; and Mining & Logging, 100. Major industries experiencing decreases were Trade, Transportation & Utilities, 2,300; and Information, 200. Leisure & Hospitality Services employment remained unchanged.
Seasonally Adjusted Unemployment Rates since January 2023
| Area | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | June 2023 | July 2023 | August 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.5 | 3.4 | 3.3 | 3.3 | 3.3 | 3.4 | 3.4 | 3.5 | 3.6 | 3.6 | 3.6 | 3.6 | 3.5 |
| U.S. | 3.4 | 3.6 | 3.5 | 3.4 | 3.7 | 3.6 | 3.5 | 3.8 | 3.8 | 3.8 | 3.7 | 3.7 | 3.7 |
* Please note: 2023 numbers have undergone annual revision *
Since January 2023, Total Nonfarm jobs increased 75,200 with the Total Private sector increasing by 56,500 and Government increasing by 18,700. Major industries experiencing increases were Education & Health Services, 24,600; Government, 18,700; Leisure & Hospitality Services, 17,700; Construction, 8,800; Financial Activities, 7,500; Professional & Business Services, 3,300; Other Services, 2,500; Trade, Transportation & Utilities, 600; and Mining & Logging, 200. Major industries experiencing decreases were Manufacturing, 6,000; and Information, 2,700.
The next unemployment update is scheduled for Wednesday, March 13, 2024 when the county unemployment rates for January 2024 will be released.