Triad jobless rate falls to 9.8 percent
The Triad’s jobless rate fell for the first time in four months, dropping below 10 percent to 9.8 percent in August, the N.C. Commerce Department reported Friday.
The rate for the Winston-Salem metropolitan statistical area dropped 0.2 percentage points to 9.2 percent. The MSA consists of Davie, Forsyth, Stokes and Yadkin counties.
Economists said the reasons behind the latest rate declines aren’t all positive.
The August declines may again have been caused more by Triad residents dropping out of the job market than employer hiring, especially when excluding local and state government hiring. Most teachers are considered unemployed by the state agency during the summer until they sign their next school-year contract.
By comparison, the Triad jobless rate was at 9.1 percent in April, the lowest level since 8.1 percent in December 2008 — a month before the full weight of the recession and the financial crisis slammed the region.
Read more: The Winston-Salem Journal.