Tuesday, June 25, 2024

North Carolina’s May Employment Figures Released

Raleigh, N.C.
Jun 25, 2024

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

AreaMay 2023June 2023July 2023August 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2023Mar 2024Apr 2024May 2024
N.C.3.33.43.43.53.63.63.63.63.53.53.53.53.6
U.S.3.73.63.53.83.83.83.73.73.73.93.83.94.0

* 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.

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