Triad unemployent rate dips to 4% in February amid stagant job market

The Triad's unemployment rate continued on its recent up-and-down trend during February, tumbling to 4% following a modest uptick in both hiring and those being let go from their jobs, the N.C. Commerce Department reported Wednesday.

The latest report continues to reflect an overall stagnant market for both job seekers and employers.

Over the past four months, the Triad's jobless rate has gone from 4.3% in November to 3.6% in December and back to 4.3% in January.

The 10-county Piedmont Triad region experienced a 4,128 net job gain in the labor force from January to February, bringing the total to 813,254 listed as employed.

Meanwhile, those listed as unemployed climbed by 2,785 to 32,319 in February, after increasing by nearly 5,000 from December to January.

The unemployment rate usually is affected by workers being hired or by job eliminations. Those voluntarily leaving the workforce are not counted as unemployed.

Forsyth County's employment rate dropped from 4.3% in January to 4% in February, while Guilford County's rate declined from 4.6% to 4.3%.

Economists consider a 5% unemployment rate as full employment.

Altogether, all 14 counties in the Triad and northwest N.C. had a decrease in their month-over-month jobless rate.

Commerce no longer provides a monthly update on metro hiring patterns across eight private-sector categories and state and local government.

The Winston-Salem metro area of Davidson, Davie, Forsyth, Stokes and Yadkin counties had a net year-over-year gain of 2,500 private sector jobs, while there was no net change in government jobs.

Leading the year-over-year net gains were 2,900 jobs in private education and health services, 600 in professional and business services and 500 in the lower-wage leisure and hospitality sector.

Meanwhile, there was a year-over-year loss of 600 jobs in trade, transportation and utilities, along with 500 in manufacturing and 400 in financial activities.

For the three-county Greensboro-High Point metro area of Guilford, Randolph and Rockingham counties, there was a net gain of 500 private-sector jobs and 500 in government.

Leading the year-over-year net gains were 2,100 jobs in private education and health services, and 600 jobs in leisure and hospitality.

There were a loss of 1,100 in trade, transportation and utilities, 700 in manufacturing jobs and 400 in professional and business services.

"Hiring momentum is clearly slowing across the country, and North Carolina is not immune," said Mark Vitner, chief economist with Piedmont Crescent Capital.

"Businesses have become more cautious about slowing economic growth and increased policy uncertainty. Workers are also remaining in their jobs longer, with turnover slowing sharply across all industries."

Manufacturing job losses have been acutely felt in the Triad with at least 11 plant closing announcements since the start of 2025. More than 1,200 jobs were lost in those announcements.

Financial shortfalls for AppHealthCare has led to the northwest North Carolina health care agency announcing last week plans to eliminate 23 jobs by June 30. Prior to the posting, the agency listed having 120 full-time and part-time employees and 10 contact workers.

Prepac Manufacturing US LLC, a maker of ready-to-assemble furniture, plans to close its Whitsett manufacturing plant by May 2 and eliminate 200 jobs.

Qualicaps Inc. said 91 jobs would be eliminated by the end of 2026 as part of closing its Whitsett facility.

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