New and rapidly-growing businesses account for much of the job creation occurring in North Carolina. This article assesses the importance of new and “high-growth” firms and how their recent troubles threaten the economic dynamism of our state.
Significant differences in economic wealth exist among North Carolina’s counties. No one will debate this. But the data that are selected and its interpretation are critical to identifying the differences in economic success. This article briefly discusses the value of data selection – specifically, the differences between wages and income. Understanding data is critical to identifying problems and potential solutions.
Despite early indications of a volatile labor market, newly-released data revisions demonstrate that North Carolina’s unemployment rate remained stable throughout 2015. This article explains what labor market watchers can learn from these new data and provides some helpful tips for how to avoid getting caught off-guard by future data revisions.
Jobs are constantly being created and destroyed in our dynamic economy. The process whereby productive companies displace their less-productive competitors, known as “creative destruction”, has been shown by economists to play an important role in driving overall job growth. In this article, we illustrate what the process of creative destruction looks like in North Carolina using firm-level employment data from the Quarterly Census of Employment and Wages.
The NC State Institute for Emerging Issues’ annual conference will be held early next week. This year’s theme is Future Work, and the key question that the forum poses is: “Is technology and demography shift, how can North Carolina prepare today to create enough good jobs for tomorrow?”
In this article we examine a new measure introduced by the Federal Reserve Bank of Atlanta—the “ZPOP” ratio—which suggests that 92% of North Carolina’s population is currently in the type of work arrangement they desire. This measure confirms other indicators (such as the unemployment rate) demonstrating that North Carolina’s labor market has made rapid gains in recent years.
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Workers with degrees in science and engineering are on the fast track to employment in the high-paying STEM jobs of the 21st century. This article shows how science and engineering grads are faring in North Carolina’s labor market and provides information to help economic developers harness the underutilized STEM talent existing in certain areas of our state.
Over half of North Carolina’s workforce has a more advanced educational credential than is required for entry into their field of work. This article describes who these workers are, where they are employed, and what “underemployment” can tell us about our state’s labor market.
Recently, McKinsey and Company produced a short report regarding automation that was written up in the NY Times.