N.C. unemployment rate falls to 6.4 per cent in February

For immediate release

RALEIGH — The state’s seasonally adjusted February unemployment rate was 6.4 percent, decreasing 0.3 of a per- centage point from January’s revised rate of 6.7 percent. The national rate increased to 6.7 percent from January’s 6.6 percent.
North Carolina’s February 2014 unemployment rate was 2.2 percentage points lower than a year ago. The number of people employed increased 7,399 over the month to 4,363,010, and increased 48,459 over the year. The number of people unemployed decreased 14,748 over the month to 296,226, and declined 112,126 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, decreased 11,300 to 4,080,900 in February. The major industry with the largest over-the-month increase was Trade, Transportation & Utilities at 2,600, followed by Manufacturing, 1,200; and Financial Activities, 800. Major industries to experience decreases were Education & Health Services, 6,900; Construction, 2,300; Professional & Business Services, 2,300; Other Services, 1,700; Leisure & Hospitality Services, 1,600; Government, 1,000; and Mining & Logging, 100. Information employment remained flat over the month.

Since February 2013, Total Nonfarm jobs gained 46,400 with the Total Private sector growing by 49,300 and Govern- ment declining by 2,900. The largest over-the-year increase of major industries was in Professional & Business Services at 19,000, followed by Trade, Transportation & Utilities, 11,600; Construction, 5,400; Education & Health Services, 5,300; Other Services, 3,000; Financial Activities, 2,800; Leisure & Hospitality Services, 2,100; and Information, 700. Major industries to experience decreases over the year were Government, 2,900; and Manufacturing, 600. Mining & Logging employment remained flat over the year.
The next unemployment update is scheduled for Wednesday, April 9, 2014 when the county unemployment rates for February 2014 will be released.


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