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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


  1. The Region C Economy Jeff DeBellis & Devin Holmes Labor & Economic Analysis Division NC Department of Commerce

  2. The State of the Economy

  3. 16% 14.9% 14% 12% 10.9% 10% Region C Unemployment 8% 5.9% Rates 6% 4.5% Through the North 4% Business Cycles Carolina 3.2% 5.2% 2% 0% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 Sept '15 -Aug '16

  4. 16% 14.9% 14% 12% 10.9% 10% Unemployment Rate is Nearing Region C 8% 5.9% Pre-Recession 6% Levels North 4% Carolina 5.2% 2% 0% 2007 2010 2013 Sept '15 -Aug '16

  5. Jobs

  6. 4% North Carolina 2.4% 2% 0% -2% Jobs in -4% Region C -6% are Still Way -6.8% -8% Region C Down -10% -7.1% -12% -14% -14.5% -16% 2007 2009 2011 2013 2015

  7. 22% Manufacturing 11% Health Care & Greater 15% Social Assistance 14% Importance of 12% Manufacturing Retail Trade 12% in Region C Educational 10% Services 9% Employment in Top 5 industries relative to Accommodation 9% total employment, 2015 & Food Services 10% Public 7% Administration 6%

  8. 0% Fall and Rise of -5% Manufacturing Region C Jobs -10% -10.4% Since Bottoming-Out in 2010, Regional Mfg -15% North Jobs have Made a Carolina Recent Resurgence -20% -14.3% -19.8% -25% -28.0% -30% 2007 2009 2011 2013 2015

  9. Lower Diversity of 44.5% Industries % of Total Employment Outside the Top 5 32.3% Industries Includes 9 of the top 10 highest-paying industries in Region C Region C North Carolina

  10. People

  11. North 10% Carolina 6.3% 5% 0% Employed Residents -5% Region C -5.0% [VALUE] -10% -15% -16.7% -20% 2007 2009 2011 2013 2015

  12. 16% 14.9% 14% 12% 10.9% 10% So Why’s the Region C Unemployment 8% 5.9% Rate Down? 6% North 4% Carolina 5.2% 2% 0% 2007 2010 2013 Sept '15 -Aug '16

  13. 45% North Carolina 38.7% 40% 35% Fewer 30% People 25% Participating 20% in the 15% Labor Force 10% Region C 5% -0.6% 0% -5% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014Sept '15 -Aug'16

  14. Some Don’t Want a Job

  15. 27.3% More Retirees, Fewer Working Prime Working Age Age People 25-54 2007-2016 Retirement -6.7% Age 65+ Source: American Community Survey (ACS) 5-Year Estimates

  16. More Choosing School over Work? Educational Attainment & Graduation Rates on the Rise in Region C 49.0% 4-Year Cohort Residents with 84.4% 46.2% Graduation Rate Post-Secondary Education Some College or Above 68.9% 2010 2014 2007-2008 2014-2015

  17. More Working Outside the Region

  18. Elsewhere in Region C Outside Home Cleveland Region C, Most County, 39% 58% County Workers are Outside Home McDowell Region C, Employed County, 41% 56% Outside the Outside Region Home Polk Region C, County, 24% 67% for private sector primary jobs 2014 Outside Home Rutherford Region C, County, 38% 49%

  19. Resident Workers Employed in Region C Has Declined for private sector, primary jobs [VAL [VAL UE] UE] Worki Worki ng … ng …

  20. Commuting for Better Jobs? Average Wages Are Higher Outside the Region Under $34,000 $34,000- $43,000- $36,999 $49,999 $37,000- $50,000 or $42,999 More

  21. Cleveland County

  22. Stronger Ties to Charlotte Area Labor Market Where Cleveland Workers are Employed All Others Cleveland 39.3% 38.5% Mecklenb urg & Gaston 22.2%

  23. 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

  24. McDowell County

  25. Stronger Ties to Asheville & Hickory Labor Markets Where McDowell Workers are Employed All Others McDowell 32.3% 40.5% Burke & Buncomb Catawba e & 10.2% Henderso n 17.0%

  26. Strength • Manufacturing • 39% of all employment • 3 rd 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%) •

  27. Polk County

  28. Stronger Ties to Asheville & Hickory Labor Markets Where McDowell Workers are Employed Polk 23.7% All Others Bunco 45.3% mbe & Hender son 17.8% Spartan burg 13.2%

  29. 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 (7 th lowest in NC) •

  30. Rutherford County

  31. Split Between Labor Markets but Moving Toward Charlotte Where Rutherford Workers are Employed Rutherfo All rd Others 38.4% 38.9% Meckle Region nburg & C Gaston 12.2% 10.5%

  32. Strengths • Concentration in Manufacturing employment (15%) Weakness Highest unemployment rate in Region C • Project population decline •

  33. Super Regionalism ► Work with Neighboring Regions for Jobs & Employees Areas for Worker Training Future ► To Keep up with Changing Manufacturing Needs Focus ► To Succeed an Aging Workforce ► To Promote Education & Put It to Use ► To Help Diversify Industries

  34. Thank You Jeff DeBellis Devin Holmes Jeff.DeBellis@nccommerce.com Devin.Holmes@nccommerce.com

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