The state’s seasonally adjusted October unemployment rate was 6.3 percent, decreasing 0.9 of a percentage point from September’s revised rate. The national rate decreased 1.0 percentage point to 6.9 percent.
North Carolina’s October 2020 unemployment rate increased 2.6 percentage points from a year ago. The number of people employed increased 79,754 over the month to 4,623,968 and decreased 294,266 over the year. The number of people unemployed decreased 41,542 over the month to 310,292 and increased 123,820 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 26,400 to 4,346,400 in October. Major industries experiencing increases were Leisure & Hospitality Services, 12,600; Professional & Business Services, 12,100; Financial Activities, 2,900; Manufacturing, 2,900; Trade, Transportation & Utilities, 2,800; Construction, 1,700; Information, 1,600; and Other Services, 500. Major industries experiencing decreases were Government, 10,000; and Education & Health Services, 700. Mining & Logging employment remained unchanged.
Seasonally Adjusted Unemployment Rates since September 2019
| Oct 2019 | Nov 2019 | Dec 2019 | Jan 2020 | Feb 2020 | Mar 2020 | Apr 2020 | May 2020 | June 2020 | July 2020 | August 2020 | Sep 2020 | Oct 2020 | |
| N.C. | 3.7 | 3.6 | 3.6 | 3.6 | 3.6 | 4.3 | 12.9 | 12.8 | 7.5 | 8.5 | 6.5 | 7.2 | 6.3 |
| U.S. | 3.6 | 3.5 | 3.5 | 3.6 | 3.5 | 4.4 | 14.7 | 13.3 | 11.1 | 10.2 | 8.4 | 7.9 | 6.9 |
* Please note: 2019 numbers have undergone annual revision *
Since October 2019, Total Nonfarm jobs decreased 238,200 with the Total Private sector decreasing by 209,000 and Government decreasing by 29,200. The only major industry experiencing an over-the-year increase was Financial Activities, 2,400. Major industries experiencing decreases were Leisure & Hospitality Services, 104,100; Education & Health Services, 38,700; Manufacturing, 37,900; Government, 29,200; Trade, Transportation & Utilities, 9,900; Construction, 8,500; Professional & Business Services, 5,800; Information, 3,900; Other Services, 2,400; and Mining & Logging, 200.
The next unemployment update is scheduled for Thursday, December 3, 2020 when the county unemployment rates for October 2020 will be released.