Source: WalletHub

Sept. 6. North Carolina’s jobs picture is bright, with last week’s claims almost 7 percent lower than in the previous week and 17 percent lower than last year. Twenty-seven states and the District of Columbia had unemployment claims last week that were worse than the same week last year.

The state’s seasonally adjusted July 2024 unemployment rate was 3.7 percent, while the national rate was 4.3 percent, according to the NC Dept. of Commerce.

The number of people unemployed increased 5,155 over the month to 195,533 and increased 16,105 over the year, according to the commerce department.

According to WalletHub, North Carolina ranked eighth best among all states based on decreasing unemployment claims.

21st – Unemployment Claims Decrease vs. Previous Week

7th – Unemployment Claims Decrease vs. Same Week Last Year

13th – Cumulative Unemployment Claims in 2024 vs. Same Period Last Year

8th – Unemployment Claims per 100,000 People in Labor Force

The job market is still in good shape, as new unemployment claims decreased by 2.2% week-over-week on Aug. 26, according to WalletHub.

Ask an economist

Q: What are your predictions for the job market as we move forward during 2024 (job gains, hiring confidence, quit rates, etc.)?

A: According to the data, the unemployment rate remains relatively low, and employment growth remains positive in 2024. Therefore, there are no unforeseen challenges in the job market in terms of hiring confidence and quit rates as we move forward during 2024. However, as the economy has been in the post-pandemic era for more than a year, employment growth will be at a slower pace than last year. Health care, leisure and hospitality, and government industries remain significant drivers of job growth.

—Ying Zhen, Ph.D. – Professor; Economics Program Director, Wesleyan College

To view the full report visit: https://wallethub.com/edu/states-unemployment-claims/72730