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North Carolina

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Payroll employment in North Carolina increased by 5,800 jobs (0.1 percent) in February. The unemployment rate remained steady at 3.5 percent.

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  • "North Carolina saw yet another positive month of job growth in February, adding 5,800 jobs. The state is now nearly 355,000 jobs above pre-COVID levels, a growth of 7.7 percent." — Laura Ullrich
  • Payroll employment in North Carolina increased by 5,800 jobs (0.1 percent), on net, in February. The trade, transportation and utilities sector had the largest increase in jobs month-over-month (1,700 jobs), followed by the education and health services sector (1,300 jobs) and professional and business services (1,200 jobs). Additionally, government (1,000 jobs) and financial activities (200 jobs) saw jobs added in February. Job declines occurred in the construction and manufacturing sectors, each seeing a decline of 900 jobs.
  • On a year-over-year basis, payroll employment in North Carolina increased by 71,600 jobs (1.5 percent), on net. Since February 2020, professional and business services and financial activities have been the fastest growing sectors, adding 20.6 percent and 13.8 percent more jobs respectively.
  • The unemployment rate in North Carolina remained steady at 3.5 percent in February and was up from 3.4 percent a year ago.

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

  • Residential permitting activity was up 5.4 percent in North Carolina from January to February and down 1.1 percent from February 2023.
  • According to the Federal Housing Finance Agency, home values in North Carolina in the fourth quarter were up 6.4 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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