NC unemployment rate 9.7 percent for August 2012, Increase over July, Biggest increase in government jobs, Labor force participation rate?
“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011
“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012
“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama
From the NC Department of Commerce September 21, 2012.
“North Carolina’s seasonally adjusted unemployment rate increased 0.1 of a percentage point in August to 9.7 percent. The national rate declined 0.2 of a percentage point to 8.1 percent. North Carolina’s August 2012 unemployment rate is 1.0 percentage point lower than a year ago.
“Looking at the data long-term, North Carolina has added nearly 98,000 nonfarm jobs since January 2010,” said N.C. Department of Commerce Deputy Secretary Dale Carroll. “Our workforce partners and our employment
service offices across our state are committed to helping employers put citizens back to work in North Carolina.”
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased by 1,100 to 3,953,400 in August. The major industry with the largest over-the-month increase was Government, which gained 8,400.”
I will report on the Labor Force Participation rate in NC soon.
The unemployment data by county in NC will be released next week.