Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which lost 13,600 roles, based on the most recently available information published in August 2022.
Total employment in the Charlotte-Concord-Gastonia, NC-SC market rose by 4,872 jobs in July and the unemployment rate decreased compared to the prior month by 30 bps to 3.5%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Charlotte-Concord-Gastonia, NC-SC unemployment rate is 28 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.8%. Key sectors include:
- Transportation & Utilities: 273,000; -1,200
- Business Services: 230,400; +2,200
- Restaurants & Hotels: 147,900; -200
- Government: 139,700; -13,600
- Education & Healthcare: 132,600; +600
- Financial Services: 119,900; +800
- Manufacturing: 109,800; +800
- Construction, Mining: 73,100; -200
- Other Jobs: 48,400; +400
- IT & Development: 24,900; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.