Triangle's jobless rate edges down

The Triangle's jobless rate continued its steady fall in February, but the positive momentum is still not enough for many job seekers.

For the area, the unemployment rate in February was 7.6 percent, down from 7.9 percent in January.

New data released Wednesday by the N.C. Employment Security Commission show that unemployment rates declined in 93 of North Carolina's 100 counties.

Those data are not seasonally adjusted. The News & Observer reports figures that have been seasonally adjusted by Wells Fargo Securities in Charlotte to provide more accurate comparison with the state and national data.

Triangle job seekers in particular should be encouraged by the new data, said Mark Vitner, senior economist for Wells Fargo. The Triangle's unemployment rate remains well below the state and national averages, reflecting this region's relatively stable industries, including health care, technology and education.

"In Raleigh, the improvement is more widespread than in any other area," he said. "The improvement in the economy is more lasting. If you were to see the gains concentrated in just one or two industries, it would more likely be due to some special circumstances instead of to a true improvement in the underlying economy."

Still, the state has nearly 446,000 workers unemployed, and the labor market is uncomfortably tight for many, especially people who have been out of work for a year or more.

Robert Williams of Raleigh lost his job doing maintenance work last month. He's trying to act quickly and is considering jobs in other fields and jobs that pay less than what he was making before.

"I haven't been at it that long to get too frustrated," said Williams, 63. "They're saying on TV that unemployment is coming down, but they still have a lot of people out there. I'm not going to procrastinate and wait too long."

Since the start of the recession in December 2007, North Carolina has lost 7percent of its payroll employment base, or roughly 292,500 positions, said John Quinterno, principal for South by North Strategies, a Chapel Hill research firm specializing in economic and social policy.

"We would need 300,000 jobs just to get back to where we were in December of 2007," he said. "We did see some growth in February, and the national report for March suggests we may see some growth in March. But one good month in February does not mean that this isover, nor does it mean we are at the start of a period of growth."

Many employers remain reluctant to hire until there are further signs of recovery in the broader economy. And industries that were hit hard during the downturn, including construction and commercial real estate, will take years to return to pre-recession employment levels.

That said, high-tech companies in this area continue to hire, including Red Hat, SAS, Cree and iContact.

Statewide, employers added 17,400 jobs in February, and the jobless rate fell to 9.7 percent. The next monthly report on the state jobs market is scheduled to be released on April 19.

Nationally, recent data show even more strength. In March, private employers created 230,000 jobs, and the jobless rate fell to 8.8 percent.