North Carolina’s February Employment Figures Released

The state’s seasonally adjusted February 2022 unemployment rate was 3.7 percent, decreasing 0.2 of a percentage point from January’s revised rate. The national rate decreased 0.2 of a percentage point to 3.8 percent.

North Carolina’s unemployment rate decreased 1.7 percentage points from a year ago. The number of people employed increased 18,085 over the month to 4,827,774 and increased 183,269 over the year. The number of people unemployed decreased 10,157 over the month to 187,258 and decreased 75,556 over the year.

Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, increased 22,400 to 4,688,000 in February. Major industries experiencing increases were Professional & Business Services, 6,200; Leisure & Hospitality Services, 5,300; Trade, Transportation & Utilities, 4,700; Manufacturing, 3,300; Education & Health Services, 2,300; Financial Activities, 1,700; and Construction, 500. Major industries experiencing decreases were Government, 1,100; and Other Services, 500. Information and Mining & Logging employment remained unchanged.

Since February 2021, Total Nonfarm jobs increased 182,600 with the Total Private sector increasing by 164,000 and Government increasing by 18,600. Major industries experiencing increases were Leisure & Hospitality Services, 56,400; Professional & Business Services, 43,100; Trade, Transportation & Utilities, 19,800; Government, 18,600; Financial Activities, 11,900; Education & Health Services, 10,000; Manufacturing, 8,100; Other Services, 5,400; Information, 5,200; and Construction, 4,200. The only major industry experiencing a decrease over the year was Mining & Logging, 100.

The next unemployment update is scheduled for Wednesday, April 6, 2022 when the county unemployment rates for February 2022 will be released.

Author: Mike Jackson