Special to Iredell Free News
RALEIGH — North Carolina’s seasonally adjusted unemployment rate for October was 6.3 percent, decreasing 0.9 of a percentage point from September’s revised rate. The national rate decreased 1.0 percentage point to 6.9 percent.
North Carolina’s October 2020 unemployment rate represents a 2.6 percentage points from a year ago.
The number of people employed increased 79,754 over the month to 4,623,968 and decreased 294,266 over the year. The number of people unemployed decreased 41,542 over the month to 310,292 and increased 123,820 over the year.
Seasonally adjusted Total Nonfarm industry employment, as gathered through the monthly establishment survey, increased 26,400 to 4,346,400 in October. Major industries experiencing increases were Leisure & Hospitality Services, 12,600; Professional & Business Services, 12,100; Financial Activities, 2,900; Manufacturing, 2,900; Trade, Transportation & Utilities, 2,800; Construction, 1,700; Information, 1,600; and Other Services, 500.
Major industries experiencing decreases were Government, 10,000; and Education & Health Services, 700. Mining & Logging employment remained unchanged.
Since October 2019, Total Nonfarm jobs decreased 238,200 with the Total Private sector decreasing by 209,000 and Government decreasing by 29,200. The only major industry experiencing an over-the-year increase was Financial Activities, 2,400. Major industries experiencing decreases were Leisure & Hospitality Services, 104,100; Education & Health Services, 38,700; Manufacturing, 37,900; Government, 29,200; Trade, Transportation & Utilities, 9,900; Construction, 8,500; Professional & Business Services, 5,800; Information, 3,900; Other Services, 2,400; and Mining & Logging, 200.