The Triangle’s jobless rate fell to 4.2 percent in April, the lowest in nine years.
The region added just 400 jobs in April, but the number of people working and looking for work, known as the labor pool, shrunk by 1,500 people. That combination caused the Triangle’s unemployment rate to drop from 4.4 percent in March.
The jobless data was issued by the N.C. Department of Commerce on Wednesday and seasonally adjusted by Wells Fargo Securities in Charlotte.
A year ago, the Triangle’s unemployment rate was at 4.6 percent.
In the past year, nonfarm employment in the Triangle grew by 21,600 new jobs, or 2.4 percent. The labor force grew by 23,300 people, or 2.1 percent. As long as job growth outpaces the size of labor force, the jobless rate will fall.
The statewide jobless rate was 4.7 in April, and the U.S. average was 4.4 percent.