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North Carolina

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Payroll employment in North Carolina increased by 15,000 jobs in November (0.3 percent). The unemployment rate remained stable at 3.7 percent.

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Labor market icon showing three people Labor Market Conditions

  • "After experiencing a hurricane-induced decline in payroll employment in October, job growth rebounded in North Carolina, with 15,000 jobs added. Job gains were led by robust growth in professional and business services employment." – Bethany Greene
  • Payroll employment in North Carolina increased by 15,000 jobs, on net, in November (0.3 percent). Job gains were concentrated in professional and business services (6,700 jobs), construction (3,800 jobs) and education and health services (3,400 jobs). However, manufacturing employment continued to decline, losing 3,000 jobs.
  • On an annual basis, payroll employment increased by 82,000 jobs (1.7 percent). Yearly job growth was led by education and health services (29,000 jobs), professional and business services (16,000 jobs) and government (16,000 jobs).
  • The unemployment rate remained stable at 3.7 percent. The size of the labor force shrank by 1,600 workers, but is still up by 13,000 workers on a yearly basis.

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

  • North Carolina issued 14.0 percent fewer residential permits in November 2024 than in October 2024. Residential permitting decreased by 9.1 percent in November 2024 compared to November 2023.
  • According to the Federal Housing Finance Agency, home values grew by 0.8 percent in Q3 of 2024 compared to Q2 of 2024. Home values rose 4.8 percent from Q3 of 2023 to Q3 of 2024.
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