Raleigh, N.C. - The state’s seasonally adjusted October 2023 unemployment rate was 3.4 percent, unchanged from September’s revised rate. The national rate increased 0.1 of a percentage point to 3.9 percent.

North Carolina’s unemployment rate decreased 0.5 of a percentage point from a year ago. 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 4,938,400 in October. Major industries experiencing increases were Leisure & Hospitality Services, 2,400; Education & Health Services, 700; Trade, Transportation & Utilities, 500; and Other Services, 300. Major industries experiencing decreases were Professional & Business Services, 4,900; Construction, 2,100; Manufacturing, 2,100; Government, 1,400; Information, 700; and Financial Activities, 400. Mining & Logging employment remained unchanged.

Seasonally Adjusted Unemployment Rates since September 2022

Since October 2022, Total Nonfarm jobs increased 96,600 with the Total Private sector increasing by 82,900 and Government increasing by 13,700. Major industries experiencing increases were Education & Health Services, 32,700; Leisure & Hospitality Services, 25,600; Professional & Business Services, 14,900; Trade, Transportation & 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 & Logging employment remained unchanged over the year.

The next unemployment update is scheduled for Thursday, November 30, 2023 when the county unemployment rates for October 2023 will be released.