City jobless rate holds steady
HIGH POINT — Local employers remained in a hiring mode as winter faded, continuing the extended recovery of the High Point job market from the coronavirus pandemic.
The city of High Point unemployment rate was 4.4% in March, unchanged from February and down from 4.6% in March of last year, the U.S. Bureau of Labor Statistics reported Tuesday. The rate for this March was noticeably improved from the 6.9% level in March 2021 during COVID-19's impact on the economy.
'The unemployment rate remains below 5%, often considered the standard for a healthy job market,' said Mike McCully, associate professor of economics at High Point University.
Over the past year, hiring has been strong in education, health care and professional services, McCully told The High Point Enterprise.
'Leisure and hospitality and manufacturing have faced the biggest challenges during the past year,' he said.
The solid foundation of the North Carolina economy should help preserve job opportunities.
'The area's tax incentives, and our very strong air and highway transportation hubs, should continue to attract new businesses in the long run,' McCully said.
Statewide, unemployment rates decreased in 43 counties from February to March, increased in 29 and remained unchanged in 28. Seven of the state's metropolitan areas posted rate increases, five recorded decreases and three remained unchanged, the N.C. Department of Commerce reported Tuesday.
When compared to March of last year, unemployment rates increased in 44 counties, decreased in 30 and remained unchanged in 26. Seven metropolitan areas recorded rate increases over the year, five posted decreases and three remained unchanged.
The number of counties with unemployment rates at or below 5% totaled 92 in March compared to 91 in February. No counties recorded unemployment rates in February or March at or above 10%, historically the sign of a struggling job market.
The number of workers employed statewide increased in March by 30,225 to 5.1 million while the number unemployed decreased by 191 to 195,211. Since March 2024, the number of workers employed statewide decreased by 8,623, while the number unemployed increased by 4,939.
pjohnson@hpenews.com | 336-888-3528 | @HPEpaul
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