The Economic Perspective: “North Carolina’s April Job Market”

Mary:  I’m Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at North Carolina’s April job market.  Mike, we now have the job market numbers for North Carolina for April, which was the first full month of the economic limitations imposed to contain the coronavirus.  How did the state do?

 

Mike:  Summary Answer

  • Jobless rate hit 12.2%, as expected
  • Some consolation that rate was lower than national rate of 14.7%
  • One reason – hard hit leisure and hospitality sector is not as prominent in NC than in the nation
  • Looking ahead, rate will likely rise for May, but then back off in June
  • Also, upcoming tourist season should help in NC
  • Expectation is that more people will drive than fly for vacations
  • NC’s tourist outlets mainly rely on driving.
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.