August represented the 11th month of data collection from the Business Pulse Survey since launching last October. While most month-to-month changes have been modest, each period gives us new things to think about for North Carolina’s economy. What does this month’s numbers tell us about the current and future state of businesses?
The Lead Feed
North Carolina's seasonally adjusted unemployment rate increased from July’s revised rate of 3.4 percent.
We’re living through the hottest job market in decades. But while many workers are getting a raise, the top 20% of earners continue to receive most of the wages paid in North Carolina. This article uses data from North Carolina’s Common Follow-up System (CFS) to show that a tight labor market has helped lift the fortunes of many workers but has done little to resolve longstanding economic disparities in our state.
In July, not seasonally adjusted unemployment rates decreased in all of North Carolina's 100 counties.
Many economists, commentators, and advocates have referred to the aftermath of the COVID-19 recession as a “K-shaped recovery”, with high-wage employment growing rapidly and low-wage employment lagging behind. However, in North Carolina, low-wage workers have actually fared better than they did during previous recessions.
North Carolina's seasonally adjusted unemployment rate remained unchanged from June's revised rate of 3.4 percent.
Early adulthood represents a formative period in one’s life when educational and employment opportunities establish a foundation for future economic success. For some youth, however, detachment from these key experiences can have long-lasting consequences. These divergent pathways underscore the importance of analyzing youth connection trends and fostering engagement during this critical juncture in life.
North Carolina saw a record-high number of layoffs during the COVID-19 recession. However, the vast majority of workers who lost their job were quickly re-employed, with most of them returning to their pre-layoff industry sector and their pre-layoff employer. This article uses data from the North Carolina Common Follow-up System to show that the COVID-19 recession had a much smaller impact on displaced workers than previous recessions.
In June, not seasonally adjusted unemployment rates increased in 98 of North Carolina's 100 counties.
North Carolina’s strong labor market presents plenty of employment opportunities for people who might otherwise choose to return to school. At the same time, enrollment in higher education intuitions such as the state’s community college system has declined. What does this mean for the state’s and individual’s long-term economic resiliency, and how can leaders combat current enrollment trends?
North Carolina's seasonally adjusted unemployment rate remained unchanged from May’s revised rate of 3.4 percent.
In uncertain economic times, business leaders, policymakers and the general public want to know what's currently happening as well as the future course things might take. Following the sudden and unprecedented shock caused by the pandemic in the Spring of 2020, a variety of "real time" indicators were created to measure rapidly changing economic conditions.
The NC Today dashboard serves as a monthly update on statewide labor market and economic conditions. But what do the numbers mean? Using the April 2022 update, this blog post continues the prior series and provides context to job openings data.
In May, not seasonally adjusted unemployment rates increased in 89 of North Carolina's 100 counties.
The NC Today dashboard serves as a monthly update on statewide labor market and economic conditions. But what do the numbers mean? Using the April 2022 update, this blog post continues the prior series and provides context to manufacturing hours worked.