City jobless rate up after Christmas
The Greensboro-High Point area jobless rate was 4.2% in January, up from 3.6% in December but virtually even with the 4.1% level in January 2024, the N.C. Department of Commerce reported Friday.
Jobless rates typically rise after the Christmas holiday season, said Mike McCully, associate professor of economics at High Point University.
'Every year, unemployment rises about a half a percentage point between December and January,' McCully said. 'The good news is that unemployment continues to remain below 5%, which economists consider a normal unemployment rate.
Statewide, unemployment rates increased in 99 counties from December to January
and remained unchanged in one county, the N.C. Commerce Department reported Friday. All 15 of the state's metropolitan areas recorded rate increases.
When compared to the same month last year, unemployment rates increased in 69 counties, decreased in 18 and remained unchanged in 13, according to the state Commerce Department. Nine metropolitan areas posted rate increases over the year, two decreased and four remained unchanged.
In January 80 counties had jobless rates at or below 5%, historically the sign of a solid local job market. The number of counties at or below 5% was down from 94 in December.
No counties in the state recorded jobless rates in December or January that were at or above 10%, the indicator of a sluggish employment market.
The number of workers employed statewide increased in January by 10,772 to 5.077 million while the number unemployed increased by 31,684 to 209,884. Since January 2024, the number of workers employed statewide had increased by 25,816, while the number unemployed had increased 14,733.
pjohnson@hpenews.com | 336-888-3528 | @HPEpaul
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