North Carolina is sitting at what economists call full employment. That is, there is a certain amount of unemployment built into the system as people switch jobs or lose them and are hunting. NC is at 4.8 percent, slightly higher than the national average.
The unemployment rate in North Carolina remained flat at 4.8 percent in May, the same rate as in April.
According to the N.C. Employment Security Commission, total employment in the state dropped by 5,029 workers last month to nearly 4.31 million.
The labor force shrank by 2,650 workers to 4.5 million.
North Carolina's unemployment rate in May was higher than the national average of 4.5 percent.
In May 2006, the state's unemployment rate was 4.7 percent.
I found a website that tracks the unemployment rate for areas going back some 40-odd years. Economagic gives us some historical understanding of what it was like in 1982, 1991, and 2001. It's a good place to get perspective on our current place in the economic cycle.
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