North Raleigh Today

The latest data revisions from the US Bureau of Labor Statistics indicate that job growth in North Carolina during 2024 was primarily driven by the Education & Health Services and Government sectors. These two sectors accounted for 97% of the state's net job growth, a significant increase from the previously estimated 53%. The revisions also show that North Carolina's overall job growth rate was lower than initially reported, ending 2024 at +0.9% compared to the preliminary estimate of +1.7%.

Despite these changes, North Carolina's unemployment rate remained stable at 3.7% according to both preliminary and revised data. However, certain industries experienced notable adjustments. The Manufacturing sector continued its decline in employment for the third consecutive year, while service-providing industries such as Leisure & Hospitality and Professional & Business Services saw large downward revisions.

Additionally, revised data revealed that Asheville had more economic momentum prior to Hurricane Helene than initially thought, with over-the-year job growth in August 2024 revised to +1.4%, up from an earlier estimate of +0.6%. Post-hurricane recovery is underway in Asheville, with job growth showing signs of improvement since October 2024.

Looking ahead, new data from the Quarterly Census of Employment and Wages program is expected in June and will provide further insights into Hurricane Helene's impact on employment in Western North Carolina.

For more information or inquiries regarding this report, contact Meihui Bodane at mbodane@commerce.nc.gov.