SLIDE 1
The Region C Economy
Jeff DeBellis & Devin Holmes
Labor & Economic Analysis Division NC Department of Commerce
The Region C Economy Jeff DeBellis & Devin Holmes Labor & - - PowerPoint PPT Presentation
The Region C Economy Jeff DeBellis & Devin Holmes Labor & - - PowerPoint PPT Presentation
The Region C Economy Jeff DeBellis & Devin Holmes Labor & Economic Analysis Division NC Department of Commerce The State of the Economy 16% 14.9% 14% 12% 10.9% 10% Region C Unemployment 8% 5.9% Rates 6% 4.5% Through the
SLIDE 2
SLIDE 3
Unemployment Rates Through the Business Cycles
3.2% 10.9%
North Carolina 5.2%
4.5% 14.9%
Region C 5.9%
0% 2% 4% 6% 8% 10% 12% 14% 16%
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 Sept '15
- Aug
'16
SLIDE 4
Unemployment Rate is Nearing Pre-Recession Levels
10.9% North Carolina 5.2% 14.9% Region C 5.9%
0% 2% 4% 6% 8% 10% 12% 14% 16% 2007 2010 2013 Sept '15
- Aug '16
SLIDE 5
Jobs
SLIDE 6
Jobs in Region C are Still Way Down
- 14.5%
Region C
- 7.1%
- 6.8%
North Carolina 2.4%
- 16%
- 14%
- 12%
- 10%
- 8%
- 6%
- 4%
- 2%
0% 2% 4% 2007 2009 2011 2013 2015
SLIDE 7
Greater Importance of Manufacturing in Region C
Employment in Top 5 industries relative to total employment, 2015 22% 15% 12% 10% 9% 7% 11% 14% 12% 9% 10% 6% Manufacturing Health Care & Social Assistance Retail Trade Educational Services Accommodation & Food Services Public Administration
SLIDE 8
Fall and Rise of Manufacturing Jobs
Since Bottoming-Out in 2010, Regional Mfg Jobs have Made a Recent Resurgence
- 19.8%
North Carolina
- 14.3%
- 28.0%
Region C
- 10.4%
- 30%
- 25%
- 20%
- 15%
- 10%
- 5%
0% 2007 2009 2011 2013 2015
SLIDE 9
Lower Diversity of Industries
% of Total Employment Outside the Top 5 Industries
32.3% 44.5%
Region C North Carolina Includes 9 of the top 10 highest-paying industries in Region C
SLIDE 10
People
SLIDE 11
Employed Residents
- 5.0%
North Carolina 6.3%
- 16.7%
Region C [VALUE]
- 20%
- 15%
- 10%
- 5%
0% 5% 10%
2007 2009 2011 2013 2015
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So Why’s the Unemployment Rate Down?
10.9% North Carolina 5.2% 14.9% Region C 5.9%
0% 2% 4% 6% 8% 10% 12% 14% 16% 2007 2010 2013 Sept '15
- Aug '16
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North Carolina 38.7% Region C
- 0.6%
- 5%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014Sept '15
- Aug'16
Fewer People Participating in the Labor Force
SLIDE 14
Some Don’t Want a Job
SLIDE 15
Source: American Community Survey (ACS) 5-Year Estimates
More Retirees, Fewer Working Age People
2007-2016
- 6.7%
27.3%
Prime Working Age 25-54 Retirement Age 65+
SLIDE 16
More Choosing School over Work?
Educational Attainment & Graduation Rates on the Rise in Region C
68.9% 84.4% 2007-2008 2014-2015
4-Year Cohort Graduation Rate
46.2% 49.0%
Residents with Post-Secondary Education
Some College or Above
2010 2014
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More Working Outside the Region
SLIDE 18
Most County Workers are Employed Outside the Region
for private sector primary jobs 2014 Home County, 39% Home County, 41% Home County, 24% Home County, 38% Outside Region C, 58% Outside Region C, 56% Outside Region C, 67% Outside Region C, 49% Cleveland McDowell Polk Rutherford Elsewhere in Region C
SLIDE 19
Resident Workers Employed in Region C Has Declined
for private sector, primary jobs
[VAL UE]
Worki ng …
[VAL UE]
Worki ng …
SLIDE 20
Commuting for Better Jobs?
Average Wages Are Higher Outside the Region
Under $34,000 $34,000- $36,999 $37,000- $42,999 $43,000- $49,999 $50,000 or More
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Cleveland County
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Stronger Ties to Charlotte Area Labor Market
Where Cleveland Workers are Employed
Cleveland 38.5% Mecklenb urg & Gaston 22.2% All Others 39.3%
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Strengths
- Transportation & Warehousing
- 37% increase in employment 2007-15
- Strong concentration of Manufacturing employment (19%)
- Highest average wage in Region C
Weakness
- Slowest population growth in the Region
SLIDE 24
McDowell County
SLIDE 25
Stronger Ties to Asheville & Hickory Labor Markets
Where McDowell Workers are Employed
McDowell 40.5% Buncomb e & Henderso n 17.0% Burke & Catawba 10.2% All Others 32.3%
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Strength
- Manufacturing
- 39% of all employment
- 3rd Largest Concentration of Employment in NC
- Strongest employment growth in the Region since 2010
Threat
- Manufacturing
- 47% of total county wages
- Lowest % with Bachelor’s Degree in the Region (14%)
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Polk County
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Stronger Ties to Asheville & Hickory Labor Markets
Where McDowell Workers are Employed
Polk 23.7% Bunco mbe & Hender son 17.8% Spartan burg 13.2% All Others 45.3%
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Strengths
- High concentration in Healthcare Employment (29%)
- Lowest unemployment rate in Region C
- Strongest population growth in Region C
- Attraction of Retirees
Weakness
- Decline in working age pop (Highest median age in NC)
- Lowest average wage in Region (7th lowest in NC)
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Rutherford County
SLIDE 31
Split Between Labor Markets but Moving Toward Charlotte
Where Rutherford Workers are Employed
Rutherfo rd 38.4% Region C 12.2% Meckle nburg & Gaston 10.5% All Others 38.9%
SLIDE 32
Strengths
- Concentration in Manufacturing employment (15%)
Weakness
- Highest unemployment rate in Region C
- Project population decline
SLIDE 33
Areas for Future Focus
Super Regionalism
► Work with Neighboring Regions for Jobs & Employees
Worker Training
► To Keep up with Changing Manufacturing Needs ► To Succeed an Aging Workforce ► To Promote Education & Put It to Use ► To Help Diversify Industries
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