NC unemployment rate falls for 2nd month in April to 10.8 percent from 11.1 percent in March

NC’s jobless rate drops in April for 2nd month

RALEIGH, N.C. — North Carolina’s jobless are having more success looking for work as the unemployment rate dropped for the second straight month in April to 10.8 percent.

The state’s Employment Security Commission reported Friday that the jobless rate fell from 11.1 percent in March and 11.2 percent in February, the worst since the current calculation method started in 1976.

The improvement pushed North Carolina out of the top 10 states with the worst unemployment. Thirty-four states and the District of Columbia reported lower jobless rates in April, the U.S. Labor Department said Friday.

There were 16,500 fewer people on North Carolina unemployment rolls in April than the previous month. The number of non-farm jobs increased by 7,500 in April. And evidence continued that people previously discouraged by the lack of work started looking for jobs again.

The data also contained the good news that manufacturers added 700 jobs in the month and increase the hours worked by existing employees, a trend that could lead to more hiring.

Still, it’s likely to be another six months before hiring really begins gearing up, said North Carolina Central University economist Kofi Amoateng. Many economists predict it will take years for the job market to get back to normal.

“Unemployment is a lagging indicator for the economy. It lags behind stock market performance, which has been improving for the past six months,” said Amoateng.

But the positive trends could be sidetracked if Europe’s financial crisis, provoked by debt problems in Greece, causes investors to panic, exports to fall and North Carolina manufacturers to tighten their belts again, he said.