This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at North Carolina’s economic outlook. Mike, you just released your mid-year economic analysis for the state. What are the highlights?
- The state economy expanded in 2018 and continues to expand in 2019
- However, similar to the nation, pace of expansion has slowed in 2019
- In terms of sectors, technology, professional services, and entertainment have been the fastest growing
- On the downside, farming output has decreased 10% in the last year, likely due to trade tensions
- One good news item – growth in high, medium, and low paying jobs have expanded at very similar rates
- Geographically, Asheville, Charlotte, and W-S have been fastest growing in jobs
- Outlook – growth will continue – but slower; unemployment rate will change little because labor force participation is rising – again, good
- 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.