News & Observer | newsobserver.com | N.C. total employment drops

Published: Apr 21, 2007 12:00 AM
Modified: Apr 21, 2007 05:13 AM

N.C. total employment drops

Story Tools

Advertisements
North Carolina employers had a strong run for seven months.

In March, it ended. For the first time since July, total employment in the state fell.

During the month, 2,209 fewer people were employed than in February, according to data released Friday by the N.C. Employment Security Commission.

The state had logged record employment growth since August.

Friday's data also suggested that some people had problems finding jobs. In March, the labor force shrank by 1,889 workers, indicating that some could not find satisfactory positions and, frustrated, dropped out of the worker pool.

The declines by themselves aren't alarming. Indeed, North Carolina's unemployment rate was unchanged in March at 4.5 percent, the lowest level in six years, and was only a tick above the national rate of 4.4 percent.

But economists will pay close attention in the coming months to see if a trend is forming.

The national economy is slowing. Fuel and other costs are rising. The housing market is struggling. Interest rates aren't falling as investors had hoped.

North Carolina, buoyed by population growth and success attracting new industries, has weathered the troubles better than other states. Some economists, though, have cautioned that ripples from difficulties in other places will come here.

The state's largest companies, such as Bank of America and Lowe's, have operations across the nation. If revenue growth slows elsewhere, they could slow hiring at their headquarters.

In March, the biggest increase in private-sector jobs was recorded in professional and business services, which includes lawyers, accountants and consultants. Education, health care and hospitality were among the other segments that had gains. Manufacturing had the biggest decline.

The state on Friday will release Triangle and other local jobs data for March.

Staff writer Jonathan B. Cox can be reached at (919) 836-4948 or jon.cox@newsobserver.com.
No comments have been posted for this story. Log in to be the first to comment.


The News & Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.

Since The News & Observer does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The News and Observer.

If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.

Hosting Partners of
newsobserver.com

Member of the
Real Cities Network

A subsidiary of The McClatchy Company