Employment in Leisure and Hospitality has grown nearly 25% since January 2013 to nearly 530,000 jobs in NC. This growth was severely disrupted by COVID but jobs were recovered by January 2023 and are now surpassing Pre-COVID levels.
The Lead Feed
In this edition of NC Economy Watch we take stock of how high interest rates have affected the North Carolina economy. The Federal Reserve has hiked interest rates at the fastest pace in over 40 years, making it more difficult for businesses and consumers to access credit. So far, our state’s economy has largely held up in the face of tightening credit conditions, but the delayed effects of high interest rates may lead to more serious consequences in the months ahead.
Small businesses are often celebrated as the “lifeblood” of the economy for their oversized role in job creation, innovation and contributions to overall GDP. But how many people actually work at one?
Beginning today, career explorers can use their NCWorks.gov password to login to NCcareers.org. This now provides multiple options for log-in credentials.
According to data from the US Census Bureau, the share of the US workforce that worked the majority of the week at home rose from 5.7% in 2019 to 17.9% in 2021 – an increase in the number of at-home workers of more than 200%. This article explores the places around the state where remote work has become most common.
LEAD’s next blog in the automation series examines exposure to automation-related employment disruptions at the regional level in North Carolina.
In this edition of NC Economy Watch we examine rising prices in our region and nationwide. Price inflation remains stuck at decades-high levels, causing hardship for consumers and threatening to tip our economy into recession. While it’s difficult to predict how the future course of inflation will evolve, price growth is likely to remain elevated due in part to a shortage of available workers.
Labor shortages among child care providers and their challenges raising pay limit the number of children facilities can serve. This places pressure on parents and leads some to restrict their labor supply, among other economic impacts. These proposals in Governor Cooper’s budget could help providers increase pay and serve more families.
Find out which workers by age are overrepresented in automation exposed industries.
Find out which workers by sex are overrepresented in automation exposed industries.
Find out which workers by race and ethnicity are overrepresented in automation exposed industries.
In this edition of NC Economy Watch, we examine the employment data revisions just released by the US Bureau of Labor Statistics. These revisions change what we thought we knew about conditions in certain sectors of the economy. Overall, however, the revised data continue to demonstrate that, although our economy is slowing, it’s still growing.
Data shows workers with young kids in North Carolina have lower labor force participation rates. High prices, too few available spots at child care facilities, and more are all contributing factors, and it takes a toll on our economy.
The aging of North Carolina’s workforce coupled with slowing population growth speaks to the ever-increasing role that immigration will play in alleviating labor shortages in the years to come. Yet despite its economic importance, international migration remains lower than levels seen in past decades, and COVID-19 disruptions have further hampered immigration in recent years. In this article, we dive deeper into the impact that immigration has on the state’s workforce.
In a previous blog, QWI data revealed several industries that have wage growth for Black workers consistently exceeding that of White workers, higher than average wages, and projected employment growth faster than the state. This blog will share further insights about one of those industries in particular, Chemical Manufacturing.