Blog Entry List

In September 2024, Hurricane Helene carved a devastating path across the Southeastern United States, leaving an indelible mark on Western North Carolina's economic landscape. The storm caused estimated damage within North Carolina reaching up to $59.6 billion, establishing it as one of the costliest hurricanes in recent history. With the release of Quarterly Census of Employment and Wages (QCEW) data for the second quarter following the storm, we now have a clearer picture of how industry employment has been affected across the hardest-hit areas.

College majors aren't just academic choices as they often set the stage for lifelong income differences. By following traditional gender paths into fields like education or engineering, students may unknowingly reinforce the gender pay gap before their careers even begin.

Every June, thousands of North Carolina high schoolers toss their graduation caps into the sky and step into the unknown. But where do they actually land? We dug into the data of more than 950,000 students who graduated from NC public schools between 2014 and 2023 to find out. Thanks to the NC TOWER which tracks employment and higher education outcomes, we can follow the journeys of about 92% of these grads through jobs and colleges both in and out of state.

The latest gross domestic product (GDP) data from the Bureau of Economic Analysis reveals key sectors to the state’s economy.

Our recent The LEAD Feed article introduced the issue and examined the factors contributing to a more complex labor market for recent graduates compared to previous years. Using data from NC TOWER, the article showed that the class of 2023 experienced a somewhat unexpected decline in first-year post-college wages.

In this edition of NC Economy Watch, we examine the challenges faced by recent college graduates in North Carolina. While college remains a worthwhile investment for most students, recent college graduates are confronting a more difficult labor market than in previous years as they navigate technological change and the ups-and-downs of the post-COVID economy.

In previous articles, we explored household incomes and wages and the degree of differences in counties across North Carolina, housing costs, growth rates, and rental vs homewowner burden. Today, we explore housing values and burden at the county level to identity regional disparities across the state.

Upon completion of a recent article reviewing housing values across the state, we discovered that inflation adjusted median housing values increased in 77% of North Carolina’s counties since 2014. This made us wonder if rental costs would follow the same pattern.

As the discussion about rising home prices continues, we wanted to provide an update on an article published in 2022 looking at the ACS 5-year Median Home Values and how home values were keeping pace with inflation across the state.

Our recent LEAD Feed article showed that home prices grew substantially in North Carolina and the nation during the pandemic. This article examines data from the Federal Reserve Bank of Atlanta's Home Ownership Affordability Monitor (HOAM) to understand how homeownership affordability for current homebuyers has changed since 2019.

Housing costs rose sharply during the pandemic. Now, many more residents find themselves spending a larger portion of their income on rent or mortgage payments. To better understand housing affordability in North Carolina, this article explores housing cost burden for both homeowners and renters from 2010 to 2023, how cost burden has evolved, and which households are most impacted.

The North Carolina housing market has experienced remarkable transformations over the past two decades. Using data from the Federal Housing Finance Agency (FHFA) Home Price Index and the Zillow Observed Renter Index, this analysis explores how home prices and rents have evolved in North Carolina compared to national trends and examines underlying factors like housing supply and mortgage rates.

The Labor & Economic Analysis Division (LEAD) recently released the 2032 Regional Long Term Industry Projections for North Carolina. As reported in the summary of the 2032 Statewide Long Term Employment Projections earlier this year, over 500,000 new jobs are expected to be added to the North Carolina economy between 2022 and 2032, representing a percentage change of 10% . However, these trends vary significantly by region and industry.

The Labor and Economic Analysis recently released the 2032 Regional Employment Projections for nearly 140 industries and 840 occupations. These projections estimate future workforce demand based on historical employment trends and a range of economic factors and offer valuable insights for shaping education and workforce planning in North Carolina.

Last year, we published two articles examining the employment outcomes of older jobseekers in North Carolina’s labor market. This year, in recognition of Reentry Month, we take a closer look at what happens to older individuals after they leave prison in North Carolina.