NC News: State unemployment rate drops to 6.5 percent, within 3 points of 2019's rate

Raleigh - According to a press release from the NC Department of Commerce, the state’s seasonally adjusted August unemployment rate was 6.5 percent, decreasing 2.0 percentage points from July’s revised rate. The national rate decreased by 1.8 percentage points to 8.4 percent.

North Carolina’s August 2020 unemployment rate increased 2.7 percentage points from a year ago. The number of people employed increased 28,419 over the month to 4,510,574 and decreased 387,558 over the year. The number of people unemployed decreased 100,105 over the month to 315,347 and increased 120,255 over the year.

Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 17,000 to 4,263,100 in August. Major industries experiencing increases were Trade, Transportation & Utilities, 7,300; Professional & Business Services, 4,400; Government, 4,300; Education & Health Services, 2,200; Financial Activities, 1,300; Other Services, 1,000; Manufacturing, 500; and Mining & Logging, 100. Major industries experiencing decreases were Construction, 1,800; Leisure & Hospitality Services, 1,300, and Information, 1,000.

Since August 2019, Total Nonfarm jobs decreased 320,100 with the Total Private sector decreasing by 285,000 and Government decreasing by 35,100. No major industry experienced an over-the-year increase. Major industries experiencing decreases were Leisure & Hospitality Services, 129,000; Education & Health Services, 42,400; Manufacturing, 39,800; Government, 35,100; Professional & Business Services, 27,000; Trade, Transportation & Utilities, 23,400; Construction, 11,600; Information, 6,200; Other Services, 4,400; Financial Activities, 900; and Mining & Logging, 300.

The next unemployment update is scheduled for Wednesday, September 30, 2020 when the county unemployment rates for August 2020 will be released.