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Federal Reserve Bank of Richmond

North Carolina

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Payroll employment in North Carolina increased by 9,400 (0.2 percent) in March. The unemployment rate is 3.7 percent, declining by 0.1 percentage point.

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  • "Monthly payroll employment growth accelerated in March, mostly due to strong job gains in trade transportation and utilities." – Bethany Greene
  • Total payroll employment in North Carolina increased by 9,400 (0.2 percent), on net, in March. Most of the job gains came from trade, transportation and utilities (4,600 jobs) and manufacturing (2,200 jobs). There were slight employment losses in government (200 jobs), information services (100 jobs) and other services (100 jobs).
  • On an annual basis, payroll employment increased by 44,500 jobs (0.9 percent). The industries with the highest annual job growth were education and health services (21,000 jobs) and construction (11,300 jobs).
  • The unemployment rate in North Carolina is 3.7 percent, declining by 0.1 percentage point in March. Also, the labor force declined by 7,000 participants.

Housing Market icon showing a picture of a house Housing Market Conditions

  • North Carolina issued 27.8 percent more residential permits in March 2026 than in February 2026. Residential permitting increased 0.9 percent in March 2026 compared to March 2025.
  • According to the Federal Housing Finance Agency, home values grew 0.6 percent in Q4 of 2025 compared to Q3 of 2025. Home values rose 3.2 percent from Q4 of 2024 to Q4 of 2025.
Snapshot Resources
  • Term Definitions

    Payroll Employment
    The number of nonfarm jobs (persons on payrolls) according to where those jobs are located.

    Unemployment Rate
    The number of unemployed persons (those not employed but available and searching for work) as a percent of the civilian labor force (the total number of employed plus unemployed persons).

    Industry Structure
    A breakdown of total nonfarm jobs by industry. Percentages sum to 100 percent.

    Industry Growth
    The percentage change in jobs in each industry from a year ago.

    Building Permits
    The number of privately owned single-family and multi-family units authorized in permit-issuing places.

    House Price Index
    A repeat sales index, measuring average price changes in repeat sales or refinancings on the same single-family properties.

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Joseph Mengedoth