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June 13, 2024

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Recent Unemployment Rates In Fourth Quarter

In November, unemployment rates (not seasonally adjusted) exhibited varied trends across North Carolina’s counties. Among them, 39 counties witnessed an increase, 17 saw a decrease, and 44 remained unchanged.

Specifically, Jackson County reported a 3.4 percent unemployment rate, a slight uptick of 0.1 percent from October. Comparatively, the county’s unemployment rate in November 2022 was also 3.3 percent. Employment in Jackson County comprised 19,994 individuals, with 678 classified as unemployed.

Scotland County reported the highest unemployment rate at 5.9 percent, while Buncombe and Swain counties boasted the lowest rates at 2.6 percent each. Across the state’s metro areas, five experienced rate increases, two saw decreases, and eight remained stable.

Within the metro areas, Fayetteville and Rocky Mount shared the highest rate at 4.6 percent, whereas Asheville recorded the lowest at 2.8 percent. Statewide, the not seasonally adjusted unemployment rate stood at 3.4 percent.

Comparing data to the same month the previous year, not seasonally adjusted unemployment rates decreased in 89 counties, increased in five, and remained unchanged in six. All 15 of the state’s metro areas witnessed rate decreases over the year.

Statewide employment (not seasonally adjusted) saw a decline of 27,699 workers in November, totaling 5,086,500 employed individuals. Simultaneously, the number of unemployed individuals increased by 402 to reach 177,244. Since November 2022, statewide employed workers increased by 126,461, while unemployed individuals decreased by 7,217.

It’s crucial to acknowledge that employment estimates are influenced by significant seasonal patterns. Therefore, a focus on over-the-year changes in the not seasonally adjusted estimates is recommended for a more accurate assessment.

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