Overall unemployment rate moved down to 3.4% with the biggest shift in Manufacturing, which gained 700 roles, based on the most recently available information published in December 2021.
Total employment in the Hickory-Lenoir-Morganton, NC market rose by 276 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 3.4%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Hickory-Lenoir-Morganton, NC unemployment rate is 86 bps below the national rate which is a positive sign.
- Unemployment in the market is 280 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 7.1% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Manufacturing: 42,500; +700
- Transportation & Utilities: 31,400; +300
- Government: 23,000; +400
- Education & Healthcare: 18,300; +100
- Restaurants & Hotels: 13,600; -200
- Business Services: 13,300; +200
- Construction, Mining: 5,200; +100
- Other Jobs: 4,400; no change
- Financial Services: 3,200; no change
- IT & Development: 700; no change
Employment Change by Key Sector
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.