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North Carolina’s October Employment Figures Released

RALEIGH — The state’s seasonally adjusted October unemployment rate was 6.3 percent, decreasing 0.4 of a percentage point from September’s revised rate of 6.7 percent.  The national rate decreased 0.1 of a percentage point to 5.8 percent.
North Carolina’s October 2014 unemployment rate was 1.2 percentage points lower than a year ago.  The number of people employed increased 17,508 over the month to 4,352,730, and increased 28,447 over the year. The number of people unemployed decreased 16,685 over the month to 293,635, and declined 54,551 over the year.

Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 17,200 to 4,183,900 in October. The major industry with the largest over-the-month increase was Education & Health Services at 6,100, followed by Leisure & Hospitality Services, 3,500; Government, 3,500; Other Services, 2,300; Transportation & Utilities, 1,800; Manufacturing, 1,300; and Construction, 1,000.  Major industries experiencing decreases were Financial Activities, 2,000; and Information, 300.  Professional & Business Services and Mining & Logging employment remained unchanged over the month.

Since October 2013, Total Nonfarm jobs gained 84,700 with the Total Private sector growing by 90,400 and Government decreasing by 5,700.  The largest over-the-year increase of major industries was Professional & Business Services at 33,800, followed by Trade, Transportation & Utilities, 15,200; Education & Health Services, 8,800; Construction, 7,200; Financial Activities, 6,000; Leisure & Hospitality Services, 6,000; Other Services, 4,900; Manufacturing, 4,600; Information, 3,800; and Mining & Logging, 100.  The only major industry experiencing a decrease over the year was Government, 5,700.

The next unemployment update is scheduled for Tuesday, December 9, 2014 when the county unemployment rates for October 2014 will be released.

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