N.C.’s unemployment rate down to 6.4 percent for February

March 29, 2014

RALEIGH — The state’s seasonally adjusted February unemployment rate was 6.4 percent, decreasing 0.3 of a percentage 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 non-farm 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 and utilities at 2,600, followed by manufacturing, 1,200; and financial activities, 800. Major industries to experience decreases were education and health services, 6,900; construction, 2,300; professional and business services, 2,300; other services, 1,700; leisure and hospitality services, 1,600; government, 1,000; and mining and logging, 100. Information employment remained flat over the month.

Since February 2013, total non-farm jobs gained 46,400 with the total private sector growing by 49,300 and government declining by 2,900. The largest over-the-year increase of major industries was in professional and business services at 19,000, followed by trade, transportation and utilities, 11,600; construction, 5,400; education and health services, 5,300; other services, 3,000; financial activities, 2,800; leisure and hospitality services, 2,100; and information, 700.

Major industries to experience decreases over the year were government, 2,900; and manufacturing, 600. Mining and logging employment remained flat over the year.

The next unemployment update is scheduled for April 9, when the county unemployment rates for February 2014 will be released.