The state’s seasonally adjusted July 2024 unemployment rate was 3.7 percent, increasing 0.1 of a percentage point from June’s revised rate. The national rate increased 0.2 of a percentage point to 4.3 percent.
North Carolina’s unemployment rate increased 0.3 of a percentage point from a year ago. The number of people employed decreased 5,266 over the month to 5,073,805 and increased 9,533 over the year. The number of people unemployed increased 5,155 over the month to 195,533 and increased 16,105 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 700 to 5,019,900 in July. Major industries experiencing increases were Financial Activities, 1,300; Leisure & Hospitality Services, 1,100; Professional & Business Services, 1,100; Government, 900; and Construction, 800. Major industries experiencing decreases were Education & Health Services, 2,500; Trade, Transportation & Utilities, 1,000; Manufacturing, 800; and Other Services, 200. Information and Mining & Logging employment remained unchanged.
Seasonally Adjusted Unemployment Rates since July 2023
| Area | July 2023 | August 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | Feb 2024 | Mar 2024 | Apr 2024 | May 2024 | June 2024 | July 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.4 | 3.5 | 3.6 | 3.6 | 3.6 | 3.6 | 3.5 | 3.5 | 3.5 | 3.5 | 3.6 | 3.6 | 3.7 |
| U.S. | 3.5 | 3.8 | 3.8 | 3.8 | 3.7 | 3.7 | 3.7 | 3.9 | 3.8 | 3.9 | 4.0 | 4.1 | 4.3 |
* Please note: 2023 numbers have undergone annual revision *
Since July 2023, Total Nonfarm jobs increased 78,900 with the Total Private sector increasing by 62,800 and Government increasing by 16,100. Major industries experiencing increases were Education & Health Services, 23,900; Leisure & Hospitality Services, 22,800; Government, 16,100; Construction, 7,600; Financial Activities, 5,800; Other Services, 5,300; and Professional & Business Services, 4,700. Major industries experiencing decreases over the year were Manufacturing, 3,500; Information, 2,000; and Trade, Transportation & Utilities, 1,800. Mining & Logging employment remained unchanged over the year.
The next unemployment update is scheduled for Wednesday, August 28, 2024 when the county unemployment rates for July 2024 will be released.