N.C. loses 12,500 jobs; unemployment increases to 9.7%
Trade, transportation and utilities sectors along with leisure and hospitality shrink by more than 10,000 workers as jobless rate ticks up from 9.7 percent in October.
Posted — UpdatedThe rate, which is seasonally adjusted, was 9.6 percent in October, the lowest since January of 2009.
Job losses were worse in trade, transportation and utilities (a drop of 5,200) and leisure and hospitality (down 5,200). Construction and manufacturing jobs also fell by 2,300 and 1,600 respectively.
The education and health services sector added 4,800 jobs.
The number of people seeking work or receiving unemployment benefits and therefore counted as part of the work force on which the employment rate is calculated increased by nearly 5,000 to 433,240 compared to October.
The unemployment rate was 10.9 percent a year ago, but the number of nonfarm jobs has declined by 6,100, the ESC noted.
Driving the jobless rate lower is the overall size of the work force, which decreased by 53,928.
Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.