The state’s seasonally adjusted February 2024 unemployment rate was 3.5 percent, unchanged from January’s revised rate. The national rate increased 0.2 of a percentage point to 3.9 percent.
North Carolina’s unemployment rate increased 0.1 of a percentage point from a year ago. The number of people employed increased 3,135 over the month to 5,071,461 and increased 50,979 over the year. The number of people unemployed decreased 1,265 over the month to 184,472 and increased 6,541 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 5,800 to 4,981,500 in February. Major industries experiencing increases were Other Services, 2,300; Trade, Transportation & Utilities, 1,700; Education & Health Services, 1,300; Professional & Business Services, 1,200; Government, 1,000; Financial Activities, 200; and Information, 200. Major industries experiencing decreases were Construction, 900; Manufacturing, 900; Leisure & Hospitality Services, 200; and Mining & Logging, 100.
Seasonally Adjusted Unemployment Rates since February 2023
| Area | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | June 2023 | July 2023 | August 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.4 | 3.3 | 3.3 | 3.3 | 3.4 | 3.4 | 3.5 | 3.6 | 3.6 | 3.6 | 3.6 | 3.5 | 3.5 |
| U.S. | 3.6 | 3.5 | 3.4 | 3.7 | 3.6 | 3.5 | 3.8 | 3.8 | 3.8 | 3.7 | 3.7 | 3.7 | 3.9 |
* Please note: 2023 numbers have undergone annual revision *
Since February 2023, Total Nonfarm jobs increased 71,600 with the Total Private sector increasing by 54,400 and Government increasing by 17,200. Major industries experiencing increases were Education & Health Services, 24,800; Government, 17,200; Leisure & Hospitality Services, 12,200; Construction, 7,600; Financial Activities, 7,100; Other Services, 5,300; Professional & Business Services, 2,900; Trade, Transportation & Utilities, 2,300; and Mining & Logging, 100. Major industries experiencing decreases were Manufacturing, 4,900; and Information, 3,000.
The next unemployment update is scheduled for Wednesday, April 3, 2024 when the county unemployment rates for February 2024 will be released.