Skip to Main Content
Federal Reserve Bank of Richmond

North Carolina

aerial view of North Carolina

Payroll employment in North Carolina increased by 17,400 (0.3 percent) in May. The unemployment rate remained at 3.7 percent.

Download Full PDF

Labor market icon showing three people Labor Market Conditions

  • "North Carolina's job growth was strong in May primarily due to robust gains in leisure and hospitality and professional and business services. – Bethany Greene
  • Total payroll employment in North Carolina increased by 17,400 (0.3 percent), on net, in May. Job gains were led by leisure and hospitality (6,600 jobs), professional and business services (6,000) and education and health services (3,600 jobs). These gains were partially offset by job losses in manufacturing (2,700 jobs) and financial activities (300 jobs).
  • On an annual basis, payroll employment increased by 61,800 jobs (1.2 percent). The industries with the highest annual job growth were education and health services (23,000 jobs), leisure and hospitality (17,000 jobs) and construction (13,600 jobs). Two industries saw annual declines: manufacturing (12,600 jobs) and information services (2,200 jobs).
  • The unemployment rate in North Carolina remained at 3.7 percent. However, the labor force declined by 14,000 participants.

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

  • North Carolina issued 21.3 percent fewer residential permits in May 2026 than in April 2026. Residential permitting increased 5.9 percent in May 2026 compared to May 2025.
  • According to the Federal Housing Finance Agency, home values grew 0.3 percent in Q1 of 2026 compared to Q4 of 2025. Home values rose 2.4 percent from Q1 of 2025 to Q1 of 2026.
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.

Subscribe to Economic Data

Receive an email notification when regional surveys and reports are posted online:

Subscribe to Economic Data

By submitting this form you agree to the Bank's Terms & Conditions and Privacy Notice.

Contact Icon Contact Us
Joseph Mengedoth