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North Carolina’s economy continues to maintain a holding pattern. The
unemployment rate has settled at 4.5% for the past five months and job gains
remain at a steady pace. With UI claims on the decline and promising signs
from the construction sector, we have no reason to suspect a downturn any time
soon. However, a tight labor market will present a challenge for employers in the
meantime.
0.0
1.0
2.0
3.0
2013 2014 2015 2016 2017
6-Month Projected Growth
2.0%
4.0%
6.0%
8.0%
10.0%
2014 2015 2016 2017 2018
Rate
NC US
North Carolina = 4.5%
United States = 4.1%
March 2018
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
4.5%
NC
4.4 percentage
points from 8.9%
in January 2013
NC
US
*All data produced in this publication are based off February 2018 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: December 2017 data most current available.
Data
Unemployment Rate Change
Change in Employed
Change in Unemployed
Labor Force
Participation Rate
4.1%
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.
3.9 percentage
points from 8.0%
in January 2013
Virginia
Tennessee
Georgia
South Carolina
North Carolina
Alabama
West Virginia
407 (0.2%) 108,000 (1.6%)
0.0 0.0
3,505 (0.1%) 409,000 (0.3%)
0.0 to 61.4% 0.0 to 62.7%
2.5% over the month
1.7% over the year
Note: Not Seasonally Adjusted
Industry Employment
4,457,900 Total Nonfarm Jobs
8,700 over the month
70,200 over the year
Source: NC Dept. of Revenue
Note: January 2018 data most current
available at time of release.
Real Taxable Retail Sales
$51.7M over the month
$328.1M over the year
Source: United States Census Bureau
Note: Includes multiple-unit housing.
Residential Building Permits
1.6% over the month
24.8% over the year
Source: The Conference Board; BLS; LEAD
Note: January 2018 data most current
available at time of release.
Job Postings
2.8% over the month
8.2% over the year
3.3
5.4
3.6
4.5
3.7
4.3
4.5
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 2.1 3.6 4.3 4.9 5.6 7.3
Initial UI Claims
10,445 Individuals Filing
314 over the month
5,758 over the year
Source: US Dept. of Labor, ETA
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
2014 2015 2016 2017 2018
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
2013 2014 2015 2016 2017 2018
In Millions
0
20
40
60
2014 2015 2016 2017 2018
In Thousands
58%
59%
60%
61%
62%
63%
64%
2014 2015 2016 2017 2018
$600
$650
$700
$750
$800
$850
2014 2015 2016 2017 2018
3,800
3,900
4,000
4,100
4,200
4,300
4,400
4,500
2014 2015 2016 2017 2018
In Thousands NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com
Source: NC Dept. of Revenue
Note: January 2018 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 3.6%
Alexander 3.7%
Orange 3.8%
Henderson 3.9%
Wake 3.9%
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 14.6%
Tyrrell 10.6%
Dare 10.5%
Scotland 8.7%
3.5 4.4 5.5 7.5 10.5 14.9 Edgecombe 8.4%
*All data produced in this publication are based off February 2018 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 | 2018-03 |
| Description | March 2018 |
| Digital Characteristics-A | 2.22 MB; 2 p. |
| Digital Format | application/pdf |
| Pres File Name-M | pubs_serial_16694113_nctoday201803 |
| Full Text | North Carolina’s economy continues to maintain a holding pattern. The unemployment rate has settled at 4.5% for the past five months and job gains remain at a steady pace. With UI claims on the decline and promising signs from the construction sector, we have no reason to suspect a downturn any time soon. However, a tight labor market will present a challenge for employers in the meantime. 0.0 1.0 2.0 3.0 2013 2014 2015 2016 2017 6-Month Projected Growth 2.0% 4.0% 6.0% 8.0% 10.0% 2014 2015 2016 2017 2018 Rate NC US North Carolina = 4.5% United States = 4.1% March 2018 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 4.5% NC 4.4 percentage points from 8.9% in January 2013 NC US *All data produced in this publication are based off February 2018 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: December 2017 data most current available. Data Unemployment Rate Change Change in Employed Change in Unemployed Labor Force Participation Rate 4.1% 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. 3.9 percentage points from 8.0% in January 2013 Virginia Tennessee Georgia South Carolina North Carolina Alabama West Virginia 407 (0.2%) 108,000 (1.6%) 0.0 0.0 3,505 (0.1%) 409,000 (0.3%) 0.0 to 61.4% 0.0 to 62.7% 2.5% over the month 1.7% over the year Note: Not Seasonally Adjusted Industry Employment 4,457,900 Total Nonfarm Jobs 8,700 over the month 70,200 over the year Source: NC Dept. of Revenue Note: January 2018 data most current available at time of release. Real Taxable Retail Sales $51.7M over the month $328.1M over the year Source: United States Census Bureau Note: Includes multiple-unit housing. Residential Building Permits 1.6% over the month 24.8% over the year Source: The Conference Board; BLS; LEAD Note: January 2018 data most current available at time of release. Job Postings 2.8% over the month 8.2% over the year 3.3 5.4 3.6 4.5 3.7 4.3 4.5 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 2.1 3.6 4.3 4.9 5.6 7.3 Initial UI Claims 10,445 Individuals Filing 314 over the month 5,758 over the year Source: US Dept. of Labor, ETA 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 2014 2015 2016 2017 2018 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 2013 2014 2015 2016 2017 2018 In Millions 0 20 40 60 2014 2015 2016 2017 2018 In Thousands 58% 59% 60% 61% 62% 63% 64% 2014 2015 2016 2017 2018 $600 $650 $700 $750 $800 $850 2014 2015 2016 2017 2018 3,800 3,900 4,000 4,100 4,200 4,300 4,400 4,500 2014 2015 2016 2017 2018 In Thousands NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | lead@nccommerce.com Source: NC Dept. of Revenue Note: January 2018 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 3.6% Alexander 3.7% Orange 3.8% Henderson 3.9% Wake 3.9% 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 14.6% Tyrrell 10.6% Dare 10.5% Scotland 8.7% 3.5 4.4 5.5 7.5 10.5 14.9 Edgecombe 8.4% *All data produced in this publication are based off February 2018 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 |
