Overall unemployment rate moved down to 3.4% with the biggest shift in Business Services, which gained 3,300 roles, based on the most recently available information published in May 2023.
Total employment in the Charlotte-Concord-Gastonia, NC-SC market rose by 22,523 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 3.4%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Charlotte-Concord-Gastonia, NC-SC unemployment rate is 22 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 1.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 273,900; +2,700
- Business Services: 231,700; +3,300
- Government: 162,600; +1,400
- Restaurants & Hotels: 145,300; +3,000
- Education & Healthcare: 143,800; +1,200
- Financial Services: 121,900; +400
- Manufacturing: 110,300; no change
- Construction, Mining: 76,100; +600
- Other Jobs: 49,000; +800
- IT & Development: 26,200; -200
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.