The state’s seasonally adjusted May 2024 unemployment rate was 3.6 percent, increasing 0.1 of a percentage point from April’s revised rate. The national rate increased 0.1 of a percentage point to 4.0 percent.
North Carolina’s unemployment rate increased 0.3 of a percentage point from a year ago. The number of people employed increased 3,965 over the month to 5,079,871 and increased 24,423 over the year. The number of people unemployed increased 803 over the month to 187,503 and increased 14,437 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 14,400 to 5,006,800 in May. Major industries experiencing increases were Leisure & Hospitality Services, 6,800; Professional & Business Services, 6,800; Education & Health Services, 2,600; Other Services, 1,700; Government, 700; Information, 400; and Mining & Logging, 100. Major industries experiencing decreases were Manufacturing, 2,000; Trade, Transportation & Utilities, 1,500; Financial Activities, 700; and Construction, 500.
Seasonally Adjusted Unemployment Rates since May 2023
| Area | May 2023 | June 2023 | July 2023 | August 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | Feb 2023 | Mar 2024 | Apr 2024 | May 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.3 | 3.4 | 3.4 | 3.5 | 3.6 | 3.6 | 3.6 | 3.6 | 3.5 | 3.5 | 3.5 | 3.5 | 3.6 |
| U.S. | 3.7 | 3.6 | 3.5 | 3.8 | 3.8 | 3.8 | 3.7 | 3.7 | 3.7 | 3.9 | 3.8 | 3.9 | 4.0 |
* Please note: 2023 numbers have undergone annual revision *
Since May 2023, Total Nonfarm jobs increased 72,400 with the Total Private sector increasing by 57,900 and Government increasing by 14,500. Major industries experiencing increases were Education & Health Services, 21,600; Leisure & Hospitality Services, 20,300; Government, 14,500; Professional & Business Services, 10,600; Construction, 8,300; Financial Activities, 5,700; Other Services, 5,500; and Mining & Logging, 100. Major industries experiencing decreases over the year were Manufacturing, 7,400; Trade, Transportation & Utilities, 3,900; and Information, 2,900.
The next unemployment update is scheduled for Wednesday, July 3, 2024 when the county unemployment rates for May 2024 will be released.