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North Carolina

aerial view of North Carolina

North Carolina employment increased by 17,500 jobs (0.4 percent) in August. The unemployment rate remained at 3.3 percent.

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Labor market icon showing three people Labor Market Conditions

  • Total payroll employment in North Carolina increased by 17,500 jobs (0.4 percent), on net, in August. Transportation, trade, and utilities experienced the largest job gain (4,700 jobs), while manufacturing experienced the largest job loss (3,200 jobs).
  • On a year-over-year basis, payroll employment in North Carolina was up by 117,300 jobs (2.4 percent), on net. Employment was 6.9 percent higher than its pre-pandemic level in February 2020. Job gains over the year were led by leisure and hospitality (32,600 jobs) while manufacturing experienced the largest decline (2,100 jobs).
  • The unemployment rate in North Carolina remained at 3.3 percent in August, which was 0.6 percentage point below the reading from August 2022. The unemployment rate was 0.5 percentage point 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 2.0 percent in North Carolina from July to August but down 9.3 percent from August 2022.
  • According to the Federal Housing Finance Agency, home values in North Carolina in the second quarter were up 7.5 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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