Loss of Winn-Dixie Jobs affects Sept. employment
Unemployment was virtually unchanged in September from the month earlier, according to seasonally adjusted statistics from the N.C. Employment Security Commission Friday. But the number of people employed throughout the state dropped, a result of grocery store chain Winn-Dixie shuttering its stores, said economist Mark Vitner from Wachovia.
Unemployment stood at 5.5 percent in Sept., down from 5.6 percent in August. The number of people that were employed dropped 10,500, though.
The two figures may seem to contradict one another. But unemployment measures the number of people who are not working and who are actively searching for a job. The number of people employed measures the number of people working in the state. The two don't necessarily go hand in hand. Any number of factors, like people deciding its too hard to find a job or a return to school will affect the unemployment numbers.
Aside from Winn-Dixie, Vitner said high oil prices are taking a toll on the economy. "Everyone is worrying that sales are going to slump," he said. As a reslt, retailers are more cautious in their hiring.
He is optimistic that retailers will do well over the upcoming holiday season, though. Wachovia will release a retail holiday forecast in the first part of November, he said.