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The headline labor statistics for March: NC’s unemployment rate dropped a solid
0.2 percentage points; and hardly any new jobs were created. As regular viewers
of the NC Today will attest, preliminary monthly numbers can be noisy and are
sometimes revised to tell a very different story. Trends still point to a healthy and
expanding economy. While this expansion has been rather slow and uneven, it has
been long and improvements have been throughout the state since the depths of
the recession. Nearly all other data we’re watching indicate those trends are likely
to continue for some time.
0.0
1.0
2.0
3.0
2013 2014 2015 2016 2017
6-Month Projected Growth
North Carolina = 4.9%
United States = 4.5%
2.0%
4.0%
6.0%
8.0%
10.0%
2013 2014 2015 2016 2017
Rate
NC US
April 2017
NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com
Monthly Dashboard*
Philadelphia Federal Reserve Leading Indicators for North Carolina
Unemployment Rate Comparison
4.9%
NC
4.4 percentage
points from 9.3%
in March 2012
NC
US
*All data produced in this publication are based off March 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or
smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index.
NC
Source: Federal Reserve Bank of Philadelphia Note: February 2017 data most current available.
Data
Unemployment Rate Change
Change in Employed
Change in Unemployed
Labor Force
Participation Rate
4.5%
US
Manufacturing Hours Worked
Unemployment Rate Trend
This leading index
predicts the six-month
growth rate of the
state’s economy (as
measured by the
Phili Fed’s current
indicator index). A
positive number
reflects economic
growth, while a
negative projects a
decline.
3.7 percentage
points from 8.2%
in March 2012
Virginia
Tennessee
Georgia
South Carolina
North Carolina
Alabama
West Virginia
8,149 (3.2%) 326,000 (4.3%)
0.2 0.2
15,331 (0.3%) 472,000 (2.4%)
0.1 to 62.2% 0.0 to 63.0%
0.5% over the month
1.0% over the year
Note: Not Seasonally Adjusted
Industry Employment
4,387,600 Total Nonfarm Jobs
500 over the month
69,700 over the year
Source: NC Dept. of Revenue
Note: February 2017 data most current
available at time of release.
Real Taxable Retail Sales
$53.4M over the month
$702.3M over the year
Source: United States Census Bureau
Note: Includes multiple-unit housing.
Residential Building Permits
0.4% over the month
16.2% over the year
Source: The Conference Board; BLS; LEAD
Note: February 2017 data most current
available at time of release.
Job Openings
8.8% over the month
8.8% over the year
5.1
4.9
3.8
4.9
5.8
4.4
5.1
WV
VT
NH
RI
NJ
DE
MD
DC
AK
HI
CT
MA
TX
CA
MT
AZ
ID
NV
NM
CO
OR
KS
UT IL
WY
NE
SD
MN
IA
OK
ND
FL
MO
WI
GA
WA
AL
AR
MI
IN
NC
PA
LA
NY
MS
TN
VA
KY
OH
SC
ME 2.6 3.1 3.9 4.5 5.1 6.7
Initial UI Claims
14,664 Individuals Filing
387 over the month
2,337 over the year
Source: US Dept. of Labor, ETA
0
1,000
2,000
3,000
4,000
5,000
6,000
2013 2014 2015 2016 2017
$4,000
$6,000
$8,000
$10,000
$12,000
2013 2014 2015 2016 2017
In Millions
0
20
40
60
80
2013 2014 2015 2016 2017
In Thousands
58%
59%
60%
61%
62%
63%
64%
2013 2014 2015 2016 2017
$600
$650
$700
$750
$800
$850
2013 2014 2015 2016 2017
3,800
3,900
4,000
4,100
4,200
4,300
4,400
2013 2014 2015 2016 2017
In Thousands NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com
Source: NC Dept. of Revenue
Note: February 2017 data most current available at time of release.
Source: United States Census Bureau
Note: Includes multiple-unit housing.
Unemployment Rate By County (Not Seasonally Adjusted)
Lowest
Highest
Buncombe 3.7%
Alexander 3.9%
Henderson 4.0%
Chatham 4.0%
Granville 4.0%
Total Nonfarm Jobs Average Real Weekly Earnings (Private Nonfarm Sector)
Labor Force Participation Rate
Residential Building Permits
Initial Unemployment Insurance Claims
Real Taxable Retail Sales
Hyde 12.3%
Tyrrell 9.2%
Scotland 8.1%
Dare 7.9%
3.7 4.6 5.5 6.8 9.2 12.3 Edgecombe 7.7%
*All data produced in this publication are based off March 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated.
Dollar amounts have been adjusted for inflation using the Consumer Price Index.
Source: US Dept. of Labor, ETA
Object Description
Description
| Title | North Carolina today |
| Other Title | North Carolina today (North Carolina. Labor Market Information Division); NC today |
| Date | 2017-04 |
| Description | April 2017 |
| Digital Characteristics-A | 1.98 MB; 2 p. |
| Digital Format | application/pdf |
| Pres File Name-M | pubs_serial_nctoday201704.pdf |
| Full Text | The headline labor statistics for March: NC’s unemployment rate dropped a solid 0.2 percentage points; and hardly any new jobs were created. As regular viewers of the NC Today will attest, preliminary monthly numbers can be noisy and are sometimes revised to tell a very different story. Trends still point to a healthy and expanding economy. While this expansion has been rather slow and uneven, it has been long and improvements have been throughout the state since the depths of the recession. Nearly all other data we’re watching indicate those trends are likely to continue for some time. 0.0 1.0 2.0 3.0 2013 2014 2015 2016 2017 6-Month Projected Growth North Carolina = 4.9% United States = 4.5% 2.0% 4.0% 6.0% 8.0% 10.0% 2013 2014 2015 2016 2017 Rate NC US April 2017 NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com Monthly Dashboard* Philadelphia Federal Reserve Leading Indicators for North Carolina Unemployment Rate Comparison 4.9% NC 4.4 percentage points from 9.3% in March 2012 NC US *All data produced in this publication are based off March 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index. NC Source: Federal Reserve Bank of Philadelphia Note: February 2017 data most current available. Data Unemployment Rate Change Change in Employed Change in Unemployed Labor Force Participation Rate 4.5% US Manufacturing Hours Worked Unemployment Rate Trend This leading index predicts the six-month growth rate of the state’s economy (as measured by the Phili Fed’s current indicator index). A positive number reflects economic growth, while a negative projects a decline. 3.7 percentage points from 8.2% in March 2012 Virginia Tennessee Georgia South Carolina North Carolina Alabama West Virginia 8,149 (3.2%) 326,000 (4.3%) 0.2 0.2 15,331 (0.3%) 472,000 (2.4%) 0.1 to 62.2% 0.0 to 63.0% 0.5% over the month 1.0% over the year Note: Not Seasonally Adjusted Industry Employment 4,387,600 Total Nonfarm Jobs 500 over the month 69,700 over the year Source: NC Dept. of Revenue Note: February 2017 data most current available at time of release. Real Taxable Retail Sales $53.4M over the month $702.3M over the year Source: United States Census Bureau Note: Includes multiple-unit housing. Residential Building Permits 0.4% over the month 16.2% over the year Source: The Conference Board; BLS; LEAD Note: February 2017 data most current available at time of release. Job Openings 8.8% over the month 8.8% over the year 5.1 4.9 3.8 4.9 5.8 4.4 5.1 WV VT NH RI NJ DE MD DC AK HI CT MA TX CA MT AZ ID NV NM CO OR KS UT IL WY NE SD MN IA OK ND FL MO WI GA WA AL AR MI IN NC PA LA NY MS TN VA KY OH SC ME 2.6 3.1 3.9 4.5 5.1 6.7 Initial UI Claims 14,664 Individuals Filing 387 over the month 2,337 over the year Source: US Dept. of Labor, ETA 0 1,000 2,000 3,000 4,000 5,000 6,000 2013 2014 2015 2016 2017 $4,000 $6,000 $8,000 $10,000 $12,000 2013 2014 2015 2016 2017 In Millions 0 20 40 60 80 2013 2014 2015 2016 2017 In Thousands 58% 59% 60% 61% 62% 63% 64% 2013 2014 2015 2016 2017 $600 $650 $700 $750 $800 $850 2013 2014 2015 2016 2017 3,800 3,900 4,000 4,100 4,200 4,300 4,400 2013 2014 2015 2016 2017 In Thousands NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com Source: NC Dept. of Revenue Note: February 2017 data most current available at time of release. Source: United States Census Bureau Note: Includes multiple-unit housing. Unemployment Rate By County (Not Seasonally Adjusted) Lowest Highest Buncombe 3.7% Alexander 3.9% Henderson 4.0% Chatham 4.0% Granville 4.0% Total Nonfarm Jobs Average Real Weekly Earnings (Private Nonfarm Sector) Labor Force Participation Rate Residential Building Permits Initial Unemployment Insurance Claims Real Taxable Retail Sales Hyde 12.3% Tyrrell 9.2% Scotland 8.1% Dare 7.9% 3.7 4.6 5.5 6.8 9.2 12.3 Edgecombe 7.7% *All data produced in this publication are based off March 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index. Source: US Dept. of Labor, ETA |
| OCLC number | 16694113 |
