North Carolina’s Unemployment Rate Holds at 3.5%

North Carolina’s unemployment rate held for the second month at 3.5%, according to the latest data from the North Carolina Department of Commerce.

• M-O-M: The state’s seasonally adjusted December 2023 unemployment rate was 3.5 percent, unchanged from November’s revised rate but slightly higher than the 3.3% reported in the summer.

• Y-O-Y: The state’s unemployment was down 0.3 percentage points from the same time last year.

Job Growth. Seasonally adjusted Total Nonfarm employment increased 2,100 to 4,951,900 in December.

• Leisure & Hospitality had the best month with 2,500 new jobs in December followed by Education & Health Services (+1,500), Professional & Business Services (+1,100), and Government (+800).

• On the flip side, other Services lost 2,100 jobs in December followed by Information (-1,000), Financial Activities (-800) and Construction (-600).

A Good Year. Since December 2022, total nonfarm jobs have increased by 99,400 with the Total Private sector increasing by 82,400 and Government increasing by 17,000.