NC unemployment rate drops below 10 percent

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In some good news for the economy, North  Carolina’s unemployment rate dropped  below 10 percent for the first time in more than a year, according to data  released from the N.C. Department of Commerce. The data show the  state’s unemployment rate in February at 9.9 percent, reports the News & Observer .  That’s down from 10.2  percent in January, when North Carolina had the country’s fourth-highest  jobless rate. There were nearly 12,000 fewer people unemployed in North  Carolina in February.

Still, the state’s jobless rate for the  month remained much higher than the national rate of 8.3 percent. The commerce department  says employers added 47,000 more jobs than they cut in the year ending in  February, with private businesses responsible for 94 percent of those  positions. North Carolina lost more than 330,000 jobs by the time the national  recession bottomed out two years ago.  Read More.

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