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STAG
<br />NORTH CAROLINA
<br />Department of Commerce r
<br />NORTH CAROLINA ECONOMIC OVERVIEW: JUNE 2011
<br />North Carolina's economy has been in a holding
<br />pattern for the last few months. The
<br />unemployment rate has been the same since
<br />March. Since last month the State has lost 7,400
<br />nonfarm positions. However, total employment has
<br />increased by over 12 thousand. The discrepancy is
<br />because total employment includes farm workers,
<br />unpaid family workers, the self - employed, and
<br />people on unpaid leave.
<br />INDICAT
<br />N.C. Unemployment Rate unchanged
<br />9.7%
<br />Rate is unchanged from April
<br />U.S. Unemployment Rate increased
<br />0.1%
<br />9.1% in May from 9.0% in April
<br />Existing Home Sales increased
<br />National indicators show continued slow growth.
<br />Real GDP growth was revised to 1.9 percent in the 10.1%
<br />1 quarter of 2011 and analysts expect similar 7,627 in May from 6,926 in April
<br />growth for the 2 quarter. Consumer confidence fell 3 points in May but housing authorizations increased 2.5
<br />percent from the revised April estimate.
<br />Employment and labor force increased compared to April, but labor force remains smaller than last year
<br />The number of employed
<br />workers in North Carolina
<br />NC Labor Levels Labor Force
<br />continued to increase in May,
<br />Adjuste Labo
<br />Previous Month
<br />June 2010 - May 2011 --M— Employed
<br />growing by over 12 thousand
<br />4,600,000
<br />Apr -11 May -11
<br />(5/11 compared to 4/11)
<br />people since April and 41
<br />4,500,000
<br />(revised) (preliminary)
<br />thousand since December. The
<br />4,400,000
<br />Change %Change
<br />Labor Force
<br />labor force has also grown over
<br />4,300,000
<br />0.3%
<br />(39,929)
<br />those two periods, adding 12
<br />4,200,000
<br />-1.3%
<br />Employed
<br />thousand potential workers
<br />4,100,000
<br />0.3%
<br />15,168
<br />since last month and 39
<br />4,000,000
<br />-6.2%
<br />Unemployed
<br />thousand since December.
<br />3,900,000
<br />0.0%
<br />(55,097)
<br />-11.2%
<br />3,800,000
<br />92.4%
<br />Compared to the same month
<br />3,700,000
<br />last year, however, the labor
<br />force is 40 thousand people
<br />O
<br />y 0 O y 0 O y 0 yy ti y y ti ti ti
<br />y0
<br />smaller. To be counted in the
<br />��
<br />I �� o a� a Q a�
<br />Q o z o Q
<br />labor force a person has to
<br />N.C. Employment
<br />Security Commission, Labor Force Statistics
<br />either be employed or have
<br />sought employment sometime in the last 4 weeks. In May of 2009 the labor force was larger than it was in
<br />May of 2008. Since then the labor force has been smaller than it was in the same month the previous year,
<br />marking 2 consecutive years of decline.
<br />N.C. EmpIoyment Sec urity Commission, Labor Force Statistics
<br />Policy, Research & Strategic Planning; June Mjcji ?jVTber 1
<br />1 -1
<br />Page 574
<br />North Carolina Seasonally
<br />Adjuste Labo
<br />Previous Month
<br />Last Year -Same Month
<br />Start of Recession
<br />Apr -11 May -11
<br />(5/11 compared to 4/11)
<br />(5/11 compared to 5/10)
<br />(5/11 compared to 12/07)
<br />(revised) (preliminary)
<br />Change I %Change
<br />Change %Change
<br />Change %Change
<br />Labor Force
<br />4,489,137 4,501,276
<br />12,139
<br />0.3%
<br />(39,929)
<br />-0.9%
<br />(59,121)
<br />-1.3%
<br />Employed
<br />4,053,878 4,065,918
<br />12,040
<br />0.3%
<br />15,168
<br />0.4%
<br />(268,240)
<br />-6.2%
<br />Unemployed
<br />435,259 435,358
<br />99
<br />0.0%
<br />(55,097)
<br />-11.2%
<br />209,119
<br />92.4%
<br />N.C. EmpIoyment Sec urity Commission, Labor Force Statistics
<br />Policy, Research & Strategic Planning; June Mjcji ?jVTber 1
<br />1 -1
<br />Page 574
<br />
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