North Carolina’s seasonally adjusted unemployment rate for October was 3.4%, the same as September’s revised rate.
The national unemployment rate increased by 0.1% to 3.9%, according to figures released Friday by the N.C. Department of Commerce.
The 3.4% rate represents the lowest rate for any October over the last 40 years. “Other state and national data suggest our economy remains in relatively good shape as we head into the holiday season,” according to the N.C. Department of Commerce.
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 4.9 million in October.
Major industries experiencing increases were Leisure and Hospitality Services, 2,400; Education and Health Services, 700; Trade, Transportation and Utilities, 500; and Other Services, 300. Major industries experiencing decreases were Professional and Business Services, 4,900; Construction, 2,100; Manufacturing, 2,100; Government, 1,400; Information, 700; and Financial Activities, 400. Mining and Logging employment remained unchanged.
Since October 2022, total nonfarm jobs have increased 96,600 with the total private sector increasing by 82,900 and government increasing by 13,700. Major industries experiencing increases were Education and Health Services, 32,700; Leisure and Hospitality Services, 25,600; Professional and Business Services, 14,900; Trade, Transportation and 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 and Logging employment remained unchanged over the year.
The N.C. Commerce Department will report county unemployment rates for October on Nov. 30.