Triangle unemployment rate falls slightly to 8 percent
The Research Triangle metro area’s jobless ranks fell a bit in May, with the percentage of people out of work declining to 8 percent from 8.1 percent in April. The seasonably adjusted rate falls to 7.7 percent.
Posted — UpdatedWhen the rate is seasonably adjusted for predictable patterns, the jobless rate fell to 7.7 percent in May from 8.3 percent in April, according to East Carolina University Economist James Kleckley.
The jobless rate in April was 8.1 percent.
Statewide, unemployment fell in 86 of 100 counties, the ESC reported.
The North Carolina jobless rate is 9.9 percent.
“A majority of North Carolina’s counties experienced a decline in their unemployment rates,” said ESC Chairman Lynn Holmes in a statement. “Some counties benefited from seasonal hiring, which is typical this time of the year. We continued to experience industry growth within our metropolitan statistical areas. In May, 11 of the state’s 14 metros had an increase in job growth.”
Unemployment rates in those 14 areas for May were:
• Winston-Salem — 9.4 percent, down from 9.5 percent.
As of March, the unemployed in North Carolina could be eligible for up to 53 weeks of benefits. An average of 20,000 people per week could lose their unemployment benefits each week if Congress declines to approve an extension of those funds, Larry Parker of the ESC said.
Senate Republicans quashed a bill that would provide that extension earlier this week in response to constituents who asked them not to increase the national debt.
Democrats hope that political pressure from voters outraged about the cutoff of jobless benefits averaging $300 a week and from business groups seeking renewal of longstanding tax breaks might eventually revive the bill.
• Credits
Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.