CHARLOTTE, N.C. — New data shows North Carolina’s unemployment rate increased at the end of 2023.
A state economist told WCNC Charlotte the unemployment rate is close to an all-time low, but he predicts it could climb this year.
Charlotte Works also said it’s seeing 40% fewer job postings, and Mecklenburg County's labor force has shrunk by 10,000 people since July. While unemployment rates have remained steady in North Carolina, experts said recently people have been having a tougher time finding work.
"Unemployment rates do tend to tick up slightly around November and December, driven in part by seasonal shutdowns in our tourism industry," Andrew Berger-Gross, the senior economist for the North Carolina Department of Commerce said.
After the holiday, seasonal employees are looking for work. Some may even file for unemployment. "very often we see an increase in filings in January after the end of the holiday hiring season," Berger-Gross added.
The latest state data shows North Carolina’s unemployment rate in November was 3.5%, up from 3.4% in October and September, and 3.3% in August.
"We've been kind of bouncing up and down between the 3 and 4% level over the last two years," Berger-Gross said. He added that the numbers are a good sign of the state's economy, but a low unemployment rate makes it harder for employers to fill jobs.
"We've seen, really, employers not hiring as many individuals right now," Kevin Loux with Charlotte Works shared. He said many businesses are uncertain about the economy going into 2024 so they're opting to be financially conservative.
Charlotte Works helps people get jobs. However, Loux said they’re serving 15% fewer people right now.
"We are anecdotally hearing that individuals are having a harder time finding those openings than they were six months or a year ago," Loux added.
Berger-Gross thinks that trend could continue. "Most forecasters, at this point in time, predict that the economy will slow over the next year... I wouldn't be too surprised to see the unemployment rate increase from where we are now."
Charlotte Works is part of N.C. Works, which has career centers all over the state. They can help with resume building, training, and securing jobs. The organization's website has detailed information about its services and shows job listings.