This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at an update on the North Carolina job report. Mike, jobs are always the number one economic measure most individuals look at to gauge the economy. So tell us how the latest job numbers for North Carolina look.
- The August report was just released recently
- Had job gains, but less than in recent months – same as in the nation
- So looks like the job market in the state is improving, but pace of improvement has slowed
- Numerically, job growth is around 1.6%, with 71,000 jobs added from August 2018 to August 2019
- State unemployment rate is 0.5 percentage points higher than national rate
- Several reasons – remnants of Florence – even after a year – more people looking for work who had stopped, and mismatch of skills of unemployed with skills needed
- On a % basis, largest growth sectors for jobs have been financial services and leisure/hospitality
- I’m MW
And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.