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Federal Reserve Bank of Richmond

North Carolina

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Payroll employment in North Carolina increased by 10,000 jobs (0.1 percent) in August. The unemployment rate declined by 0.1 percentage point to 3.5 percent.

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Labor market icon showing three people Labor Market Conditions

  • "North Carolina's monthly payroll employment growth was solid in August, adding 10,000 jobs on net. Employment gains were spread across multiple sectors." – Bethany Greene
  • Payroll employment increased by 10,000 jobs (0.1 percent), on net, in August, led by job gains in leisure and hospitality (3,200 jobs) and construction (2,100 jobs). Monthly job gains were slightly offset by losses in information (700 jobs), financial activities (600 jobs) and education and health services (500 jobs).
  • On an annual basis, payroll employment increased by 65,600 jobs (1.3 percent). The industries with the highest annual job growth were professional and business services (23,300 jobs), construction (17,500 jobs) and leisure and hospitality (16,900 jobs). Annual jobs gains were partially offset by declines in manufacturing (8,900 jobs) and information (4,300 jobs).
  • The unemployment rate in North Carolina is 3.5 percent, declining by 0.1 percentage point. However, the labor force continued to decline in August by 7,100 participants.

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

  • North Carolina issued 8.7 percent more residential permits in August 2026 than in July 2026. Residential permitting increased 17.9 percent in August 2026 compared to August 2025.
  • According to the Federal Housing Finance Agency, home values grew 0.8 percent in Q2 of 2026 compared to Q1 of 2026. Home values rose 2.4 percent from Q2 of 2025 to Q2 of 2026.
Snapshot Resources

  • 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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