nc us unemployment rate and positive job growth. …real taxable retail sales $49.9m over the month...
TRANSCRIPT
North Carolina’s economic expansion continued in October with a low unemployment rate and positive job growth. The rate of job growth has slowed in 2017, driven in part by a slowdown in the Construction sector. However, most other economic indicators suggest ongoing improvement, with no clear signs of recession on the horizon.
0.0
1.0
2.0
3.0
2013 2014 2015 2016 2017
6-M
onth
Pro
ject
edGr
owth
2.0%
4.0%
6.0%
8.0%
10.0%
2013 2014 2015 2016 2017
Rate
NC US
United States = 4.1%
North Carolina = 4.1%
November 2017
NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | [email protected]
Monthly Dashboard*
Philadelphia Federal Reserve Leading Indicators for North Carolina
Unemployment Rate Comparison
4.1%NC
4.9 percentage points from 9% in October 2012
NC
US
*All data produced in this publication are based off October 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index.
NC
Source: Federal Reserve Bank of Philadelphia Note: September 2017 data most current available.
Data
Unemployment Rate Change
Change in Employed
Change in Unemployed
Labor Force Participation Rate
4.1%US
Manufacturing Hours Worked
Unemployment Rate Trend
This leading index predicts the six-month growth rate of the state’s economy (as measured by the Phili Fed’s current indicator index). A positive number reflects economic growth, while a negative projects a decline.
3.7 percentage points from 7.8% in October 2012
Virginia
Tennessee
Georgia
South Carolina
North Carolina
Alabama
West Virginia
3,668 (1.8%) 281,000 (4.1%)
0.1 0.1
11,504 (0.2%) 484,000 (2.0%)
0.1 to 61.6% 0.4 to 62.7%
1.2% over the month
2.2% over the yearNote: Not Seasonally Adjusted
Industry Employment4,439,300 Total Nonfarm Jobs
11,400 over the month
75,200 over the year
Source: NC Dept. of RevenueNote: September 2017 data most current available at time of release.
Real Taxable Retail Sales$49.9M over the month
$425.2M over the year
Source: United States Census Bureau Note: Includes multiple-unit housing.
Residential Building Permits1.1% over the month9.3% over the year
Source: The Conference Board; BLS; LEADNote: September 2017 data most current available at time of release.
Job Postings2.2% over the month12.6% over the year
3.0
5.1
3.6
4.1
3.6
3.9
4.3
WV
VT
NH
RI
NJ
DE
MD
DC
AK
HI
CTMA
TX
CA
MT
AZ
ID
NV
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CO
OR
KS
UT IL
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NE
SD
MN
IA
OK
ND
FL
MO
WI
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WA
AL
AR
MI
IN
NC
PA
LA
NY
MS
TN
VAKY
OH
SC
ME 2.2 3.3 4.2 4.8 5.3 7.2
Initial UI Claims12,646 Individuals Filing
154 over the month
4,690 over the yearSource: US Dept. of Labor, ETANote: September 2017 data most current available at time of release.
0
1,000
2,000
3,000
4,000
5,000
6,000
2013 2014 2015 2016 2017$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
2013 2014 2015 2016 2017
In M
illio
ns
0
20
40
60
80
2013 2014 2015 2016 2017
In Th
ousa
nds
58%
59%
60%
61%
62%
63%
64%
2013 2014 2015 2016 2017
$600
$650
$700
$750
$800
$850
2013 2014 2015 2016 20173,800
3,900
4,000
4,100
4,200
4,300
4,400
4,500
2013 2014 2015 2016 2017
In Th
ousa
nds
NC Department of Commerce | Labor & Economic Analysis Division | 919.707.1500 | [email protected]
Source: NC Dept. of RevenueNote: September 2017 data most current available at time of release.
Source: United States Census BureauNote: Includes multiple-unit housing.
Unemployment Rate By County (Not Seasonally Adjusted)
Lowest
Highest
Buncombe 3.1%Orange 3.3%Alexander 3.4%Watauga 3.4%Chatham 3.5%
Total Nonfarm Jobs Average Real Weekly Earnings (Private Nonfarm Sector)
Labor Force Participation Rate
Residential Building Permits
Initial Unemployment Insurance Claims
Real Taxable Retail Sales
Scotland 7.2%Edgecombe 6.9%Halifax 6.8%Washington 6.6%Wilson 6.6%3.1 3.8 4.3 5.0 6.1 7.2
*All data produced in this publication are based off October 2017 figures, are generated by LEAD, and have been seasonally adjusted and/or smoothed unless otherwise stated. Dollar amounts have been adjusted for inflation using the Consumer Price Index.
Source: US Dept. of Labor, ETANote: September 2017 data most current available at time of release.