Employment in Leisure and Hospitality has grown nearly 25% since January 2013 to nearly 530,000 jobs in NC. This growth was severely disrupted by COVID but jobs were recovered by January 2023 and are now surpassing Pre-COVID levels.
Topics Related to Economic Trend
In this edition of NC Economy Watch we take stock of how high interest rates have affected the North Carolina economy. The Federal Reserve has hiked interest rates at the fastest pace in over 40 years, making it more difficult for businesses and consumers to access credit. So far, our state’s economy has largely held up in the face of tightening credit conditions, but the delayed effects of high interest rates may lead to more serious consequences in the months ahead.
In this edition of NC Economy Watch we examine rising prices in our region and nationwide. Price inflation remains stuck at decades-high levels, causing hardship for consumers and threatening to tip our economy into recession. While it’s difficult to predict how the future course of inflation will evolve, price growth is likely to remain elevated due in part to a shortage of available workers.
Find out which workers by age are overrepresented in automation exposed industries.
Find out which workers by sex are overrepresented in automation exposed industries.
North Carolina posted strong economic numbers in 2022. Here are five trends LEAD is watching in 2023.
Recent advancements in AI have many people wondering how it might impact the future of work and North Carolina’s labor market. LEAD examines these questions and recent AI progress in this article.
In this edition of NC Economy Watch, we provide an update on the financial health of consumers. Rising prices are eating away at the savings households built up during the COVID-19 pandemic, but for now, many consumers still have money to spare, which has important implications for the economy in the year to come.
Welcome to the January 2023 edition of NC Economy Watch: an update on what’s happening in the North Carolina economy and what it means for you, brought to you by the Labor & Economic Analysis Division (LEAD) of the NC Department of Commerce.
In this edition, we provide an update on hiring challenges in our state. The labor market has eased slightly in recent months, but hiring conditions remain historically tight, and demographic trends suggest labor shortages may become a routine feature of life during future periods of economic growth.
While many sectors have steadily regained employment following the COVID-19 recession, the childcare service workforce continues to face a significant shortfall. In this article, we use data from the North Carolina Common Follow-up System (CFS) to show the shortfall in childcare service employment can be primarily attributed to increased worker outflows among younger childcare workers to other higher-paying industries or out of the workforce altogether.