This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

NC Says Jobless Rate Down Notch To 9.4 Percent

By EMERY P. DALESIO

RALEIGH, N.C. (AP) â¿¿ Thousands of North Carolina residents quit looking for work in February, a development that cut the state's unemployment rate slightly to 9.4 percent from 9.5 percent in January, the state Commerce Department said Thursday.

That remained well above the national rate of 7.7 percent for the month.

North Carolina's unemployment rate rose to 9.5 percent in January as more than 9,100 people entered the labor force, the state agency reported earlier this month. That turned around in February, with more than 11,000 workers suddenly no longer working or looking for work.

The slightly lower unemployment rate may be in large part because thousands of people exited the competition for jobs, said Gardner-Webb University business school dean Anthony Negbenebor.

"What is happening, honestly, is for the first time in the history after the Depression, we have a much higher number of discouraged workers," he said. "They are so gradually testing the market now. They are coming back gradually, but not as fast as they did 10 years ago" following another recession.

Negbenebor noted that the month-to-month jobless rate can bob up and down, but the prevailing trend is that the economy is slowly and steadily improving. Although the state unemployment rate has barely improved from 9.5 percent in February 2012, the state's non-farm workforce of 4 million grew by 81,000 workers in the past year, Elon University economist Mark Kurt said.

"The year-to-year changes are more interesting and tell a better story for what's been happening for North Carolina. And Those look actually pretty positive," Kurt said. "That was pretty broad-based across industries."

Construction was the only major industry that continued to shed workers over the past year, with 2,800 fewer jobs. But housing prices are going up nationally, so lagging construction employment could turn around in the coming months, Kurt said.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs