North Carolina’s unemployment rate nearly tripled from 4.3% in March to 12.2% in April, a stark reflection of the COVID-19 pandemic’s impact on the state’s economy.
By comparison, the state unemployment rate reached a 33-year peak of 10.9% in 2010 as the state and national economies began their slow recoveries from the Great Recession. The Triad peak was 11.5% in February 2009.
Economists project the May jobless rate will be significantly higher since the U.S. Labor Department collects employment data during the week that contains the 12th of the month. The April report covers the churn from March 14 to April 12.
The regional and county jobless reports will be released June 3.
The data only reflects 16 days of Gov. Roy Cooper’s executive order