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  • April 2020 NC Today · 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2016 2017 2018 2019 2020 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 2016 2017 2018 2019 2020 I n M i l l i o n
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North Carolina’s seasonally adjusted April unemployment rate was 12.2%, an increase of 8.1 percentage points from a year ago; the national rate increased 11.1 percentage points to 14.7% during the same period. Unemployment increased across the state in April, as it did across the country. Compared to April 2019, unemployment rates grew in every county in the state - from an increase of 1.8 percentage points, in Bertie County, to 20 points, in Dare County. While NC also experienced a sharp decline in jobs over the month (-12.5%), the drop was not as great as the national overall (-13.5%). The statewide employment statistics for May will be released on June 19. -40.0 -20.0 0.0 20.0 40.0 60.0 80.0 2016 2017 2018 2019 2020 Diffusion Index 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 2016 2017 2018 2019 2020 Rate NC US United States = 14.7% North Carolina = 12.2% April 2020 NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | [email protected] Monthly Dashboard* Expected Future Business Conditions Unemployment Rate Comparison 12.2% NC 6.3 percentage points from 5.9% in April 2015 NC US *All data produced in this publication are based off April 2020 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index. NC/SC Source: Federal Reserve Bank of Richmond, Carolinas Survey of Business Activity. Not seasonally adjusted. Note: March 2020 data most current available. Data Unemployment Rate Change Change in Employed Change in Unemployed Labor Force Participation Rate 14.7% US Unemployment Rate Trend This is an index of expected business conditions over the next six months based on a survey of contacts in the Carolinas. A positive number reflects expected growth, while a negative number reflects expected decline. 9.3 percentage points from 5.4% in April 2015 Virginia Tennessee Georgia South Carolina North Carolina Alabama West Virginia 357,418 (165.7%) 15,938,000 (223.2%) 7.9 10.3 643,157 (13.5%) 22,369,000 (14.4%) 3.5 to 56.3% 2.5 to 60.2% Industry Employment 3,996,000 Total Nonfarm Jobs 571,700 over the month 568,200 over the year Source: NC Dept. of Revenue Note: March 2020 data most current available at time of release. Real Taxable Retail Sales $71.7M over the month $325.5M over the year Source: United States Census Bureau Note: Includes multiple-unit housing. Residential Building Permits 0.7% over the month 10.5% over the year Source: LEAD; The Conference Board Note: March 2020 data most current available at time of release. Job Postings 3.2% over the month 15.9% over the year 5.6% over the month 5.4% over the year Note: Not Seasonally Adjusted Manufacturing Hours Worked 14.7 15.2 10.6 12.2 12.9 12.1 11.9 WV VT NH RI NJ DE MD DC AK HI CT MA TX CA MT AZ ID NV NM CO OR KS UT IL WY NE SD MN IA OK ND FL MO WI GA WA AL AR MI IN NC PA LA NY MS TN VA KY OH SC ME 7.9 14.3 17.0 28.2 9.2 11.5 Initial UI Claims 518,386 Individuals Filing 124,072 over the month 504,906 over the year Source: US Dept. of Labor, ETA

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Page 1: April 2020 NC Today · 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2016 2017 2018 2019 2020 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 2016 2017 2018 2019 2020 I n M i l l i o n

North Carolina’s seasonally adjusted April unemployment rate was 12.2%, an increase of 8.1 percentage points from a year ago; the national rate increased 11.1 percentage points to 14.7% during the same period. Unemployment increased across the state in April, as it did across the country. Compared to April 2019, unemployment rates grew in every county in the state - from an increase of 1.8 percentage points, in Bertie County, to 20 points, in Dare County. While NC also experienced a sharp decline in jobs over the month (-12.5%), the drop was not as great as the national overall (-13.5%). The statewide employment statistics for May will be released on June 19.

-40.0

-20.0

0.0

20.0

40.0

60.0

80.0

2016 2017 2018 2019 2020

Diffu

sion

Inde

x

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

2016 2017 2018 2019 2020

Rate

NC US

United States = 14.7%

North Carolina = 12.2%

April 2020

NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | [email protected]

Monthly Dashboard*

Expected Future Business Conditions

Unemployment Rate Comparison

12.2%NC

6.3 percentage points from 5.9% in April 2015

NC

US

*All data produced in this publication are based off April 2020 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index.

NC/SC

Source: Federal Reserve Bank of Richmond, Carolinas Survey of Business Activity. Not seasonally adjusted.Note: March 2020 data most current available.

Data

Unemployment Rate Change

Change in Employed

Change in Unemployed

Labor Force Participation Rate

14.7%US

Unemployment Rate Trend

This is an index of expected business conditions over the next six months based on a survey of contacts in the Carolinas. A positive number reflects expected growth, while a negative number reflects expected decline.

9.3 percentage points from 5.4% in April 2015

Virginia

Tennessee

Georgia

South Carolina

North Carolina

Alabama

West Virginia

357,418 (165.7%)

15,938,000 (223.2%)

7.9 10.3

643,157 (13.5%)

22,369,000 (14.4%)

3.5 to 56.3% 2.5 to 60.2%

Industry Employment3,996,000 Total Nonfarm Jobs

571,700 over the month568,200 over the year

Source: NC Dept. of RevenueNote: March 2020 data most current available at time of release.

Real Taxable Retail Sales$71.7M over the month

$325.5M over the year

Source: United States Census Bureau Note: Includes multiple-unit housing.

Residential Building Permits0.7% over the month10.5% over the year

Source: LEAD; The Conference BoardNote: March 2020 data most current available at time of release.

Job Postings3.2% over the month15.9% over the year

5.6% over the month

5.4% over the yearNote: Not Seasonally Adjusted

Manufacturing Hours Worked

14.7

15.2

10.6

12.2

12.9

12.1

11.9

WV

VT

NH

RI

NJDEMD

DC

AK

HI

CTMA

TX

CA

MT

AZ

ID

NV

NM

CO

OR

KS

UT IL

WY

NE

SD

MN

IA

OK

ND

FL

MO

WI

GA

WA

AL

AR

MI

IN

NC

PA

LA

NY

MS

TN

VAKY

OH

SC

ME 7.9 14.3 17.0 28.29.2 11.5

Initial UI Claims518,386 Individuals Filing

124,072 over the month

504,906 over the yearSource: US Dept. of Labor, ETA

Page 2: April 2020 NC Today · 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2016 2017 2018 2019 2020 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 2016 2017 2018 2019 2020 I n M i l l i o n

0

1,000

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4,000

5,000

6,000

7,000

2016 2017 2018 2019 2020$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

2016 2017 2018 2019 2020

In M

illio

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2016 2017 2018 2019 2020

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ands

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2016 2017 2018 2019 20203,800

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2016 2017 2018 2019 2020

In T

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ands

NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | [email protected]

Source: NC Dept. of RevenueNote: March 2020 data most current available at time of release.

Source: United States Census BureauNote: Includes multiple-unit housing.

Unemployment Rate By County (Not Seasonally Adjusted)

Lowest

Highest

Bertie 6.4%Lenoir 6.8%Hertford 6.9%Duplin 7.2%Gates 7.2%

Total Nonfarm Jobs Average Real Weekly Earnings (Private Nonfarm Sector)

Labor Force Participation Rate

Residential Building Permits

Initial Unemployment Insurance Claims

Real Taxable Retail Sales

Dare 24.5%Alexander 20.1%Catawba 18.8%Buncombe 17.5%Brunswick 17.3%6.4 9.0 11.3 13.6 17.5 24.5

*All data produced in this publication are based off April 2020 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index.

Source: US Dept. of Labor, ETA


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