October 2024

Released November 19, 2024

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United States Employment Snapshot

• In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.

• The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.

• In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.

North Carolina Employment Snapshot

• In October, North Carolina lost 5,500 net payroll jobs and the unemployment rate fell by 0.1 percentage point to 3.7 percent. In the prior month, North Carolina added 4,600 net payroll jobs.

• Over the past 12 months, North Carolina added 75,800 net payroll jobs and the unemployment rate rose by 0.1 percentage point from 3.6 percent.

• Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. North Carolina is tied for 20th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• In October, North Carolina’s private sector lost 6,100 net private payroll jobs, and over the past 12 months it added 61,800 private payroll jobs. In the prior month, North Carolina added 4,400 net private payroll jobs.

• In October, employment in North Carolina fell by 763, and over the past 12 months it rose by 4,529.

• North Carolina’s labor force participation rate fell to 60.1 percent in October from 60.2 percent and ranks 39th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.8 percentage points.

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North Carolina Payroll Employment

• North Carolina lost 5,500 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during October. In the prior month, North Carolina added 4,600 jobs. North Carolina nonfarm payroll employment has increased in 11 of the past 12 months.

• Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. North Carolina is tied for 20th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• North Carolina lost 6,100 private sector jobs, or -0.1 percent. on a seasonally adjusted basis during October. In the prior month, North Carolina added 4,400 jobs. North Carolina private sector payroll employment has increased in 10 of the past 12 months.

• Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. North Carolina is tied for 19th in the nation for percentage gain in private sector payroll employment over the past 12 months.

• The best performing sectors on a seasonally adjusted basis during October were Education and Health Services (2,800) and Government (600).

• The poorest performing sectors during the month were Manufacturing (-2,000) and Construction (-4,300).

• The best performing sectors during the last 12 months were Education and Health Services (27,700) and Leisure and Hospitality (16,800).

• The poorest performing sectors during the last 12 months were Trade, Transportation, and Utilities (-2,400) and Manufacturing (-4,100).

North Carolina Labor Force

The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.

• The labor force participation rate in North Carolina fell to 60.1 percent in October from 60.2 percent in the prior month.

• North Carolina ranks 39th in the nation.

• The 10-year high for the labor force participation rate in North Carolina was 61.6 percent occurring in December 2019, and the 10-year low was 56.5 percent in April 2020.

• The national labor force participation rate fell by 0.1 percentage points to 62.6 percent in October.