NC’s Unemployment Rate at 9.6 Percent in July, Up .2 Percent; Non-farm Jobs Increase by 36,800 Over Year

Published Friday, August 17, 2012 at 11:25 am

Aug. 17, 2012. North Carolina’s seasonally adjusted unemployment rate increased 0.2 of a percentage point in July

to 9.6 percent. The national rate also experienced an increase in July, increasing to 8.3 percent. North Carolina’s
July 2012 unemployment rate is 1.1 percentage points lower than a year ago.

“In July the private sector gained 16,000 jobs,” said N.C. Department of Commerce Deputy Secretary Dale Carroll.
“When we focus on long-term growth, North Carolina has added more than 101,000 nonfarm jobs since January
2010. There continues to be a strong focus and commitment by our workforce partners and our employment service
offices across our state to recruit jobs and to put people back to work in North Carolina.”
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey,
increased by 1,800 to 3,956,700 in July. The major industry with the largest over-the-month increase was Leisure
& Hospitality Services, which gained 5,900.

Since July 2011, Total Nonfarm jobs gained 36,800 with the Service Providing sector increasing by 35,200 and the
Goods Producing sector by 1,600. The largest over-the-year increase of major industries was in Trade, Transportation and Utilities at 12,600, followed by Education & Health Services at 10,500, and Professional & Business
Services, 8,600.

The number of people employed (smoothed seasonally adjusted) decreased by 13,733 to 4,202,281 over the month,
but increased by 49,263 over the year. The state unemployment rate in July 2011 was 10.7 percent.
The next unemployment update is scheduled for Friday, Aug. 24, when the county unemployment rates for July
2012 will be released.

It is important to note that industry employment estimates are subject to large seasonal patterns. While seasonal
adjustment factors are applied to the data, these factors may not be fully capturing the seasonal trend. Therefore,
when interpreting the industry employment changes, it is advisable to focus on over-the-year changes in both the
smoothed seasonally adjusted series and not seasonally adjusted series.

**The N.C. Department of Commerce has created the Labor and Economic Analysis Division. This division brings
together economists, analysts, and statisticians that previously worked in the Labor Market Information division
of the former Employment Security Commission, and the staff of the Policy, Research, and Strategic Planning
division of the NC Department of Commerce.

To read entire press release, click here: http://www.ncesc1.com/PMI/Rates/PressReleases/State/NR_July_2012_StRate_M.pdf

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