North Carolina Unemployment Rate Holds Steady

North Carolina's seasonally adjusted unemployment rate remains unchanged at 3.3% in August, while the national rate increases to 3.8%.

Why It Matters:

The steady unemployment rate in North Carolina indicates a stable labor market in the state.

The Details:

• North Carolina's unemployment rate decreased by 0.6% compared to the previous year.

• The number of employed individuals in the state increased by 12,790 over the month, reaching a total of 5,072,983, with a year-over-year increase of 103,639.

• The number of unemployed individuals increased by 2,183 over the month to 173,576, but decreased by 26,778 compared to the previous year.

• Major industries experiencing job growth include Trade, Transportation & Utilities, Education & Health Services, Leisure & Hospitality Services, Professional & Business Services, Government, Information, Construction, and Other Services.

• However, industries such as Manufacturing, Financial Activities, and Mining & Logging witnessed a decline in employment.

Conclusion:

The stable unemployment rate bodes well for the state's economy. The upcoming release of county unemployment rates will provide further insights into the state's labor market.