Wilmington’s unemployment rate rose for the second straight month, according to the latest data from the Bureau of Labor Statistics.
- M-O-M: Wilmington’s unemployment rose to 3.2% in November, up from 3.1% in October and the second straight monthly increase.
- Y-O-Y: Wilmington’s unemployment rate is below the 3.3% reported at the same time last year.
Payroll Rises. Despite the increase in unemployment, Wilmington did create around 100 jobs with total employees on nonfarm payrolls increasing to 143,000 from 142,900 in October.
North Carolina. North Carolina created 13,600 jobs in November however, the unemployment rate did rise to 3.5% in November, up from 3.4% in October and the third straight increase.
- North Carolina’s unemployment rate is down 0.4 percentage points from the same time last year
BOTTOM LINE: Wilmington and North Carolina’s rising unemployment rate seems to have more to do with people entering the labor market than leaving it.