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North Carolina

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North Carolina employment increased by 8,900 jobs (0.2 percent) in February. The unemployment rate fell 0.2 percentage point to 3.6 percent.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in North Carolina increased by 8,900 jobs (0.2 percent), on net, in February. Education and health services experienced the largest job gain (3,700 jobs), and information experienced the largest jobs loss (1,300 jobs).
  • On a year-over-year basis, payroll employment in North Carolina was up by 144,100 jobs (3.0 percent), on net. Employment was 5.6 percent higher than its pre-pandemic level in February 2020. Jobs were added over the year in all industries, except natural resources and mining, which lost 200 jobs. The most jobs were added in leisure and hospitality (37,700 jobs).
  • The unemployment rate in North Carolina fell 0.2 percentage point to 3.6 percent in February. It was 0.2 percentage point above its reading from February 2022 and 0.2 percentage points below its pre-pandemic level in February 2020.

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

  • Residential permitting activity was up 14.6 percent in North Carolina from January to February and down 2.8 percent from February 2022.
  • According to the Federal Housing Finance Agency, home values in North Carolina in the fourth quarter were up 17.0 percent from a year earlier.
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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