Author: Oleksandr Movchan
North Carolina is projected to add over 550,000 jobs by 2024. The following summary analyzes information on employment growth and projections at the state level for the 2014-2024 period and provides key findings by major industry and occupational groups.
Every 2 years, in conjunction with the Bureau of Labor Statistics (BLS), the North Carolina Department of Commerce publishes 10-year industry and occupation employment projections for statewide and sub-state areas1. The employment projections are an estimate of the future demand for workers based on historical employment data and various economic factors2.
Projections data provide information for policy makers, job seekers, training providers, and businesses to make informed workforce decisions, and help ensure that North Carolina’s workforce is prepared for tomorrow’s job opportunities and economic growth in the state.
Top 10 Highlights of NC’s Employment Projections:
- The rate of employment growth is projected to outpace growth in the state’s overall population (12.3% vs 10.4%).
- The five fastest growing industries include Management of Companies and Enterprises; Health Care and Social Assistance; Arts, Entertainment, and Recreation; Construction; and Professional, Scientific, and Technical Services.
- Service-providing sector in North Carolina is projected to contribute nearly 90% of all net new jobs created.
- Health Care and Social Assistance, NC’s largest industry by employment, is projected to add 135,000 jobs.
- Projections for the Manufacturing industry show a slight decline of 0.7%, shedding 3,300 jobs.
- Five fastest growing occupational groups are Healthcare Support Occupations; Healthcare Practitioners and Technical Occupations; Computer and Mathematical Occupations; Construction and Extraction Occupations; Food Preparation and Serving Related Occupations
- Production Occupations are projected to slightly increase, generating 7,000 jobs.
- A majority of projected job openings are expected to come from replacement needs rather than new growth3.
- Jobs with low educational requirements (occupations requiring no post-secondary or college experience) are projected to produce the most job openings (mostly due to replacements); however, they are also projected to have the slowest rate of growth.
- Jobs in occupations that paid over $75,000 are projected to grow faster than those that paid under $30,000; however, the increased number of net new jobs from today’s low-paying occupations are projected to outnumber the increase in high-paying ones by a ratio of nearly 3 to 1, since there are far more jobs at the bottom end of the pay scale.
For a full detailed projections summary and data, see http://www.nccommerce.com/lead/data-tools/industry/projections/statewide'
* Updated on 5/5/2017
1This report analyzes only statewide projections. Sub-state projection results will be available early 2017.
2Projections assume full employment for the economy in the projected year, thus the projections are not intended to be an economic forecast of future employment.
3New growth refers to job openings from company expansion or establishment of new organizations.