How North Carolina’s Job Market Compared to the US Over the Last 47 Years

By Sam Stebbins Published Dec 27, 8:20AM EST

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How North Carolina’s Job Market Compared to the US Over the Last 47 Years — © Kruck20 / iStock via Getty Images

In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.

Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.

These same cyclical patterns are also evident in North Carolina, where the job market is supported largely by the professional and scientific and manufacturing industries. The annual unemployment rate in the state was 3.7% in 2022, only slightly higher than the state’s lowest recorded annual jobless rate of 3.2%. However, conditions for job seekers have not always been so favorable.

According to historical BLS data going back to 1976, the annual jobless rate has been as high as 10.9% in North Carolina. More than once, unemployment in the state has either matched or come close to that peak.

This is how North Carolina’s job market has changed in each of the last 47 years.

1976: 6.3%

Avg. unemployment rate: 6.3% (7.7% nationwide)
Labor force participation rate: 66.2% (61.6% nationwide)
Unemployed population in North Carolina: 162,485

1977: 5.9%

Avg. unemployment rate: 5.9% (7.1% nationwide)
Labor force participation rate: 66.7% (62.3% nationwide)
Unemployed population in North Carolina: 157,981

1978: 4.5%

Avg. unemployment rate: 4.5% (6.1% nationwide)
Labor force participation rate: 67.2% (63.2% nationwide)
Unemployed population in North Carolina: 126,041

1979: 4.8%

Avg. unemployment rate: 4.8% (5.8% nationwide)
Labor force participation rate: 66.9% (63.7% nationwide)
Unemployed population in North Carolina: 135,571

1980: 6.4%

Avg. unemployment rate: 6.4% (7.1% nationwide)
Labor force participation rate: 66.5% (63.8% nationwide)
Unemployed population in North Carolina: 182,356

1981: 6.5%

Avg. unemployment rate: 6.5% (7.6% nationwide)
Labor force participation rate: 66.4% (63.9% nationwide)
Unemployed population in North Carolina: 186,083

1982: 9.2%

Avg. unemployment rate: 9.2% (9.7% nationwide)
Labor force participation rate: 66.3% (64.0% nationwide)
Unemployed population in North Carolina: 272,303

1983: 9.0%

Avg. unemployment rate: 9.0% (9.6% nationwide)
Labor force participation rate: 65.8% (64.0% nationwide)
Unemployed population in North Carolina: 262,896

1984: 6.7%

Avg. unemployment rate: 6.7% (7.5% nationwide)
Labor force participation rate: 66.3% (64.4% nationwide)
Unemployed population in North Carolina: 199,648

1985: 5.6%

Avg. unemployment rate: 5.6% (7.2% nationwide)
Labor force participation rate: 66.6% (64.8% nationwide)
Unemployed population in North Carolina: 176,193

1986: 5.3%

Avg. unemployment rate: 5.3% (7.0% nationwide)
Labor force participation rate: 67.4% (65.3% nationwide)
Unemployed population in North Carolina: 168,653

1987: 4.5%

Avg. unemployment rate: 4.5% (6.2% nationwide)
Labor force participation rate: 68.1% (65.6% nationwide)
Unemployed population in North Carolina: 148,417

1988: 3.6%

Avg. unemployment rate: 3.6% (5.5% nationwide)
Labor force participation rate: 68.3% (65.9% nationwide)
Unemployed population in North Carolina: 123,576

1989: 3.5%

Avg. unemployment rate: 3.5% (5.3% nationwide)
Labor force participation rate: 68.7% (66.5% nationwide)
Unemployed population in North Carolina: 121,066

1990: 4.1%

Avg. unemployment rate: 4.1% (5.6% nationwide)
Labor force participation rate: 68.3% (66.5% nationwide)
Unemployed population in North Carolina: 142,712

1991: 5.8%

Avg. unemployment rate: 5.8% (6.8% nationwide)
Labor force participation rate: 68.1% (66.2% nationwide)
Unemployed population in North Carolina: 209,069

1992: 6.0%

Avg. unemployment rate: 6.0% (7.5% nationwide)
Labor force participation rate: 68.4% (66.4% nationwide)
Unemployed population in North Carolina: 225,630

1993: 5.0%

Avg. unemployment rate: 5.0% (6.9% nationwide)
Labor force participation rate: 67.4% (66.3% nationwide)
Unemployed population in North Carolina: 184,851

1994: 4.4%

Avg. unemployment rate: 4.4% (6.1% nationwide)
Labor force participation rate: 67.1% (66.6% nationwide)
Unemployed population in North Carolina: 162,850

1995: 4.3%

Avg. unemployment rate: 4.3% (5.6% nationwide)
Labor force participation rate: 67.0% (66.6% nationwide)
Unemployed population in North Carolina: 163,421

1996: 4.3%

Avg. unemployment rate: 4.3% (5.4% nationwide)
Labor force participation rate: 67.8% (66.8% nationwide)
Unemployed population in North Carolina: 169,316

1997: 3.7%

Avg. unemployment rate: 3.7% (4.9% nationwide)
Labor force participation rate: 68.0% (67.1% nationwide)
Unemployed population in North Carolina: 152,047

1998: 3.5%

Avg. unemployment rate: 3.5% (4.5% nationwide)
Labor force participation rate: 66.9% (67.1% nationwide)
Unemployed population in North Carolina: 140,602

1999: 3.2%

Avg. unemployment rate: 3.2% (4.2% nationwide)
Labor force participation rate: 67.0% (67.1% nationwide)
Unemployed population in North Carolina: 133,262

2000: 3.7%

Avg. unemployment rate: 3.7% (4.0% nationwide)
Labor force participation rate: 67.5% (67.1% nationwide)
Unemployed population in North Carolina: 154,654

2001: 5.5%

Avg. unemployment rate: 5.5% (4.7% nationwide)
Labor force participation rate: 67.6% (66.8% nationwide)
Unemployed population in North Carolina: 235,835

2002: 6.6%

Avg. unemployment rate: 6.6% (5.8% nationwide)
Labor force participation rate: 67.0% (66.6% nationwide)
Unemployed population in North Carolina: 292,056

2003: 6.4%

Avg. unemployment rate: 6.4% (6.0% nationwide)
Labor force participation rate: 67.3% (66.2% nationwide)
Unemployed population in North Carolina: 287,451

2004: 5.5%

Avg. unemployment rate: 5.5% (5.5% nationwide)
Labor force participation rate: 66.5% (66.0% nationwide)
Unemployed population in North Carolina: 251,731

2005: 5.2%

Avg. unemployment rate: 5.2% (5.1% nationwide)
Labor force participation rate: 66.2% (66.0% nationwide)
Unemployed population in North Carolina: 243,718

2006: 4.7%

Avg. unemployment rate: 4.7% (4.6% nationwide)
Labor force participation rate: 66.4% (66.2% nationwide)
Unemployed population in North Carolina: 228,299

2007: 4.7%

Avg. unemployment rate: 4.7% (4.6% nationwide)
Labor force participation rate: 65.8% (66.0% nationwide)
Unemployed population in North Carolina: 230,902

2008: 6.1%

Avg. unemployment rate: 6.1% (5.8% nationwide)
Labor force participation rate: 65.3% (66.0% nationwide)
Unemployed population in North Carolina: 281,872

2009: 10.6%

Avg. unemployment rate: 10.6% (9.3% nationwide)
Labor force participation rate: 64.8% (65.4% nationwide)
Unemployed population in North Carolina: 509,124

2010: 10.9%

Avg. unemployment rate: 10.9% (9.6% nationwide)
Labor force participation rate: 63.5% (64.7% nationwide)
Unemployed population in North Carolina: 497,912

2011: 10.3%

Avg. unemployment rate: 10.3% (8.9% nationwide)
Labor force participation rate: 62.8% (64.1% nationwide)
Unemployed population in North Carolina: 477,802

2012: 9.3%

Avg. unemployment rate: 9.3% (8.1% nationwide)
Labor force participation rate: 62.9% (63.7% nationwide)
Unemployed population in North Carolina: 448,820

2013: 8.0%

Avg. unemployment rate: 8.0% (7.4% nationwide)
Labor force participation rate: 61.9% (63.2% nationwide)
Unemployed population in North Carolina: 365,012

2014: 6.3%

Avg. unemployment rate: 6.3% (6.2% nationwide)
Labor force participation rate: 61.1% (62.9% nationwide)
Unemployed population in North Carolina: 287,640

2015: 5.7%

Avg. unemployment rate: 5.7% (5.3% nationwide)
Labor force participation rate: 61.1% (62.7% nationwide)
Unemployed population in North Carolina: 269,939

2016: 5.1%

Avg. unemployment rate: 5.1% (4.9% nationwide)
Labor force participation rate: 61.2% (62.8% nationwide)
Unemployed population in North Carolina: 246,395

2017: 4.5%

Avg. unemployment rate: 4.5% (4.4% nationwide)
Labor force participation rate: 61.3% (62.9% nationwide)
Unemployed population in North Carolina: 219,688

2018: 4.0%

Avg. unemployment rate: 4.0% (3.9% nationwide)
Labor force participation rate: 61.2% (62.9% nationwide)
Unemployed population in North Carolina: 196,268

2019: 3.9%

Avg. unemployment rate: 3.9% (3.7% nationwide)
Labor force participation rate: 61.4% (63.1% nationwide)
Unemployed population in North Carolina: 192,382

2020: 7.3%

Avg. unemployment rate: 7.3% (8.1% nationwide)
Labor force participation rate: 58.8% (61.7% nationwide)
Unemployed population in North Carolina: 347,623

2021: 4.8%

Avg. unemployment rate: 4.8% (5.3% nationwide)
Labor force participation rate: 59.4% (61.7% nationwide)
Unemployed population in North Carolina: 241,917

2022: 3.7%

Avg. unemployment rate: 3.7% (3.6% nationwide)
Labor force participation rate: 60.9% (62.2% nationwide)
Unemployed population in North Carolina: 188,331

Year	North Carolina unemployment rate	U.S. unemployment rate	Unemployed population in North Carolina
1976	6.3	7.7	162,485
1977	5.9	7.1	157,981
1978	4.5	6.1	126,041
1979	4.8	5.8	135,571
1980	6.4	7.1	182,356
1981	6.5	7.6	186,083
1982	9.2	9.7	272,303
1983	9.0	9.6	262,896
1984	6.7	7.5	199,648
1985	5.6	7.2	176,193
1986	5.3	7.0	168,653
1987	4.5	6.2	148,417
1988	3.6	5.5	123,576
1989	3.5	5.3	121,066
1990	4.1	5.6	142,712
1991	5.8	6.8	209,069
1992	6.0	7.5	225,630
1993	5.0	6.9	184,851
1994	4.4	6.1	162,850
1995	4.3	5.6	163,421
1996	4.3	5.4	169,316
1997	3.7	4.9	152,047
1998	3.5	4.5	140,602
1999	3.2	4.2	133,262
2000	3.7	4.0	154,654
2001	5.5	4.7	235,835
2002	6.6	5.8	292,056
2003	6.4	6.0	287,451
2004	5.5	5.5	251,731
2005	5.2	5.1	243,718
2006	4.7	4.6	228,299
2007	4.7	4.6	230,902
2008	6.1	5.8	281,872
2009	10.6	9.3	509,124
2010	10.9	9.6	497,912
2011	10.3	8.9	477,802
2012	9.3	8.1	448,820
2013	8.0	7.4	365,012
2014	6.3	6.2	287,640
2015	5.7	5.3	269,939
2016	5.1	4.9	246,395
2017	4.5	4.4	219,688
2018	4.0	3.9	196,268
2019	3.9	3.7	192,382
2020	7.3	8.1	347,623
2021	4.8	5.3	241,917
2022	3.7	3.6	188,331

About the Author Sam Stebbins →

Sam Stebbins is a writer at a673b.bigscoots-temp.com where his primary focus is on government policy, politics, companies, and broad social and economic trends. Sam has been writing in the money and news verticals for over 8 years and holds a bachelor's degree from Hobart College, which he earned in 2010. Sam resides in upstate New York and enjoys hiking, biking, canoeing, and skiing in the Adirondack Mountains and across the Northeast.