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6:17 p.m. • 7-29-10

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N.C. unemployment remains above 11 percent


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Unemployment
Unemployment

North Carolina’s unemployment rate remained stuck around the 11 percent mark in January, according to statistics released Wednesday by the state Employment Security Commission.

The state jobless rate was 11.1 percent, or about 502,000 unemployed, in January, up from 10.9 percent in December.

North Carolina has hovered around 11 percent unemployment since last April. In January 2009, unemployment statewide was at 9.2 percent.

Since the beginning of last year, the state has lost 114,200 non-farm jobs, officials said. Total employment statewide was 4,036,018 in January.

The national unemployment rate was 9.7 percent in January.

The construction industry sustained the biggest job losses in January, shedding 5,000 jobs, according to the ESC.

Meanwhile, 8,000 jobs were added in the trade, transportation and utility sector, 5,700 were added in professional and business services and 3,700 were added in leisure and hospitality services.

Mike Walden, an economist at North Carolina State University, sees that as a positive indication for the state.

"I do think we'll start to see consistent job gains," he said. "I won't go out on a limb and say every month, but I think the trend now is toward an improvement in the number of jobs."

The road ahead, Walden says, will be tough.

He believes the state's unemployment rate will continue to climb, reaching a peak of possibly more than 11.5 percent in the next few months as more people re-enter the labor force.

"As the job market begins to improve, once again, those folks who have given up looking for work, they start looking for work. They're counted as unemployed, and the rate goes up," Walden said.

By the end of the year, however, he believes the rate could dip below 10 percent.

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Latest Comments
November is around the corner. I will be voting Democrat straight ticket!

If the economy keeps improving at this rate only 5,500,000 will lose their job n the next 12 months. Wait until May/June 2010 when 3 million students – largely O’Bambi voters – enter the job market and can’t afford to leave Mom’s basement.

If the idiots in DC don’t get their collective heads out of their tails, this is but the beginning. Nobody’s investing, small businesses can’t get loans, more jobs are fleeing our shores daily…and on, and on.

Oh but we’ve got to do something about health care.

Well here’s an idea; do something about the job hemorrhage and more people will have health insurance.

I sympathize with folks out there that have lost their job....But if I lost my business today I would have 2 jobs by the end of the day tomorrow whether it be flipping burgers or digging ditches. There are hundreds if not thousands of jobs listed on Craigslist and for some reason many folks feel they are too good to perform them. Nothing wrong with swallowing your pride until that great IT job opens back up.

"Trickle down economics has not worked and will never work to create jobs."

When money falls it can only fall so far. A lazy person expects it to fall in his lap while a person eager to achieve reaches up and grabs it on the way down. Trickle down economics works fine for those that don't sit on the sofa. Like the old saying goes.....you can lead a horse to water but you can't make him drink.

this is the hope change thing you all voted for , and just think only three more years,just how much more CHANGE can we stand.

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