Like all metro areas in North Carolina, greater Wilmington saw an over-the-month unemployment rate increase in May.
The N.C. Department of Commerce released its latest data Tuesday. According to the report, the Wilmington metro area–New Hanover, Brunswick and Pender counties–saw a 6.6 percent jobless rate for May, which is half a percentage point higher than April’s figure.
But it’s not a gloomy picture, said one analyst.
“As we continue to have economic recovery, more and more people who had been discouraged and dropped out of the labor force are coming back in and are looking for work,” said Mekael Teshome, an economist with PNC Bank.
The numbers reflected nearly 12,400 people looking for jobs in the tri-county area. The monthly reports do not account for anyone who has left the labor force.
The rate is nearly 2 percentage points lower than it was in May 2013. Because the figures aren’t adjusted for seasonal trends, observers are advised to look at over-the-year change versus month to month for a meaningful takeaway.
The mining, logging and construction industry (counted as one sector) saw the biggest over-the-year employment increase at 9.3 percent, according to Tuesday’s report. Leisure and hospitality saw a 6.1 percent increase (and it also saw the biggest over-the-month increase, at 6.5 percent).
Manufacturing saw the only jobs decline, at 2.7 percent.
“I wasn’t too worried about that,” Teshome said when asked about the manufacturing dip and its bearing on the local picture. “I think that’s part of the normal volatility. Fundamentally, Wilmington’s economic recovery is pretty sound. We have continued growth of consumer spending, retail, hospitality. We also have healthcare and professional services, which are also adding to the recovery. And housing as well has been recovering.”
Story: Wilmington ranks low on manufacturing jobs list
Individually, New Hanover County clocked a 6.3 percent jobless rate in May. The prior month it was 5.8 percent, and in the prior year it was 8 percent.
That’s an improvement of 1.7 percentage points since May 2013.
Brunswick County’s 6.8 percent rate compares to 6.3 percent the prior month and 8.8 percent the prior year.
That’s a 2 percentage point improvement since May 2013.
In Pender County, a 7.2 percent rate in May compares to a 6.8 percent rate in April and a 9 percent rate in the prior year.
That’s a 1.8 percentage point improvement since May 2013.
The unemployment rate increased in 92 of North Carolina’s 100 counties this past May.
The highest rate was Scotland County’s 12.7 percent; the lowest was Currituck County’s 4.6 percent.
The statewide rate for May was 6.6 percent.
