Triangle unemployment falls slightly

Triangle unemployment fell slightly in January, moving from 9.0 to 8.9 percent.

The change may reflect the beginning of a turnaround for the economy, though economists caution that it's too early to assume the unemployment peak has passed -- especially since workers who have quit their job searches tend to re-start them when there signs of improvement, actually driving up the unemployment rate temporarily.

The N.C. Employment Security Commission reported this morning that the unemployment rate rose in 99 of North Carolina's 100 counties. However, seasonally adjusted data from Wells Fargo in Charlotte reflects a decrease in the unemployment rates for both the Triagle and Charlotte.

"I think that we're probably very close to the peak," said Wells Fargo senior economist Mark Vitner. It may rise as more people reenter the workforce, but it's not likely to go up that much from here unless we really suffer a serious setback in the economy."