Business

Charlotte’s jobless rate falls in February

File photo of a "Now Hiring" sign at the San Jose Career Fair in San Jose, Calif. Nov. 10, 2016.
File photo of a "Now Hiring" sign at the San Jose Career Fair in San Jose, Calif. Nov. 10, 2016. Bloomberg

Unemployment in the Charlotte area fell in February as employers across multiple industries took on more jobs.

The Charlotte metro area’s jobless rate fell to 4.7 percent in February from 5.1 percent in January, according to a report Wednesday from the N.C. Commerce Department.

Over the month, employment in the area grew by 5,000, with the largest gains in the professional and business services sector, which took on 2,300 jobs, and government, which rose by 1,500. The biggest decline came from trade, transportation and utilities, which fell by 1,900, according to the report.

Economists tend to advise against reading too far into one month of data. Instead, they point to year-over-year trends: Over the last year, Charlotte has taken on 35,500 jobs, representing a growth rate of 3.2 percent. Also a year ago, the metro area’s unemployment rate stood at 5.3 percent.

The Commerce Department also reported Wednesday that unemployment rates decreased in all 100 of the state’s counties in February.

Last week, the Commerce Department reported that North Carolina’s unemployment rate dropped from 5.3 percent to 5.1 percent in February, slightly above the national rate of 4.7 percent.

Katherine Peralta: 704-358-5079, @katieperalta

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