The state’s seasonally adjusted October 2023 unemployment rate was 3.4 percent, unchanged from September’s revised rate. The national rate increased 0.1 of a percentage point to 3.9 percent.
North Carolina’s unemployment rate decreased 0.5 of a percentage point from a year ago. The number of people employed increased 5,231 over the month to 5,093,141 and increased 132,990 over the year. The number of people unemployed increased 2,815 over the month to 179,425 and decreased 23,098 over the year.
Seasonally adjusted Total Nonfarm employment, as gathered through the monthly establishment survey, decreased 7,700 to 4,938,400 in October. Major industries experiencing increases were Leisure & Hospitality Services, 2,400; Education & Health Services, 700; Trade, Transportation & Utilities, 500; and Other Services, 300. Major industries experiencing decreases were Professional & Business Services, 4,900; Construction, 2,100; Manufacturing, 2,100; Government, 1,400; Information, 700; and Financial Activities, 400. Mining & Logging employment remained unchanged.
Seasonally Adjusted Unemployment Rates since October 2022
| Area | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | June 2023 | July 2023 | August 2023 | Sep 2023 | Oct 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| N.C. | 3.9 | 3.9 | 3.8 | 3.8 | 3.6 | 3.5 | 3.4 | 3.4 | 3.3 | 3.3 | 3.3 | 3.4 | 3.4 |
| U.S. | 3.7 | 3.6 | 3.5 | 3.4 | 3.6 | 3.5 | 3.4 | 3.7 | 3.6 | 3.5 | 3.8 | 3.8 | 3.9 |
* Please note: 2022 numbers have undergone annual revision *
Since October 2022, Total Nonfarm jobs increased 96,600 with the Total Private sector increasing by 82,900 and Government increasing by 13,700. Major industries experiencing increases were Education & Health Services, 32,700; Leisure & Hospitality Services, 25,600; Professional & Business Services, 14,900; Trade, Transportation & Utilities, 13,800; Government, 13,700; Other Services, 2,600; Financial Activities, 2,400; and Information, 900. Major industries experiencing decreases were Manufacturing, 6,000; and Construction, 4,000. Mining & Logging employment remained unchanged over the year.
The next unemployment update is scheduled for Thursday, November 30, 2023 when the county unemployment rates for October 2023 will be released.