Topics Related to Labor Market

In this edition of NC Economy Watch, we take stock of how labor market conditions in North Carolina and nationwide have changed since the height of the COVID-19 pandemic. Over the past two years, hiring new employees has gotten easier while finding a new job has become more difficult. Although the future is uncertain, it’s clear that the COVID-era labor market is now a thing of the past.

North Carolina is gearing up for the Fourth Industrial Revolution, which will integrate advanced technologies like robotics, the internet of things, and data analytics into manufacturing operations. This seismic shift, as outlined in "Best Practices for Growing Manufacturing in North Carolina," will profoundly impact workforce development professionals across the state.

North Carolina is preparing for the next industrial revolution driven by advanced "Industry 4.0" technologies like robotics, automation, and data analytics. A new report from the NC Department of Commerce and NC State’s Manufacturing Extension Partnership, "Best Practices for Growing Manufacturing in North Carolina," outlines some major implications this shift will have for the state's manufacturing workforce.

As we conclude our three-part series on North Carolina’s 2032 employment projections, we shift our focus to the future of talent demands. After examining overall employment trends and industry outlooks in the previous articles, we now dive into to occupational projections, providing valuable insights into job prospects and educational requirements.

Following our earlier blog highlighting the trends and findings of the North Carolina’s long-term employment projections, we now delve into a detailed analysis of employment projections across specific industry in the state.

In this study, we use administrative data from the North Carolina Common Follow-up System (CFS) to evaluate the impact of CTE on students with disabilities, finding that CTE “concentrators”—students who earned multiple credits in a CTE career pathway— experienced improved labor market and educational outcomes in subsequent years, including higher employment rates, higher wage earnings, and higher postsecondary enrollment rates.

The Labor & Economic Analysis Division (LEAD) has recently unveiled North Carolina’s long-term employment projections through 2032. The projections offer in-depth insight into both industry and occupational trends, with the full data available on our web-site. This blog is part of the projections series highlighting key statewide trends and findings. Additionally, projections for the sub-state areas will be released at a later time.

LEAD has surveyed businesses across North Carolina every two years since 2014 on behalf of the state’s NCWorks Commission, with a particular emphasis on hiring challenges, recruitment and retention, and other business needs. Although fewer businesses reported hiring difficulties than in the previous survey, many employers still struggle with finding the talent they need.

North Carolina has successfully positioned itself as a global leader in manufacturing. But as revealed in a new report from the NC Department of Commerce and NC State’s Manufacturing Extension Partnership (MEP), Best Practices for Growing Manufacturing in North Carolina, maintaining that edge in the Fourth Industrial Revolution is not without its challenges. Implementing cutting-edge "Industry 4.0" technologies like robotics, the internet of things (IoT), and data analytics won't be easy for employers.

In this edition of NC Economy Watch, we show how our economy is running on “two tracks”, with many households and businesses experiencing the benefits of an expanding economy while others are coming under increasing pressure from high prices, high interest rates, and a weakening labor market.