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County’s unemployment at lowest point since 2008

Rowan County’s unemployment rate fell in October to its lowest point since early 2008, according to the state Department of Commerce.

The data, released Tuesday, show the county’s unemployment rate at 5.6 percent, down from 6.1 percent in September and 7.7 percent in October 2013.

It is the lowest the rate has been since it was 5.1 percent in April 2008.

The number of unemployed people in the county was estimated at 3,776 in October, which is also the lowest estimate since April 2008 — it’s the first time the number of unemployed in the county has dropped below 4,000 since 2008.

A downside to the data is that the size of the county’s labor force continues to hover around 68,000, down from nearly 72,000 in 2012.

North Carolina’s unemployment rate was 6.3 percent in October.

The five neighboring counties all saw a drop in their unemployment rates from September to October.

Cabarrus County had an unemployment rate of 4.9 percent for October while Davie County’s was 4.8 percent. Davidson and Iredell counties had rates of 5.7 percent and 5.2 percent, respectively. Stanly County’s rate was 4.9 percent.

For the entire state, 98 counties saw a drop in the unemployment rate while two counties, Currituck and Dare, had slight increases.

Contact reporter David Purtell at 704-797-4264.

 

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