Overall unemployment rate moved up to 3.7% with the biggest shift in Business Services, which gained 5,700 roles, based on the most recently available information published in December 2022.
Total employment in the Charlotte-Concord-Gastonia, NC-SC market rose by 907 jobs in October and the unemployment rate increased compared to the prior month by 60 bps to 3.7%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Charlotte-Concord-Gastonia, NC-SC unemployment rate is 30 bps above the national rate which is a negative sign.
- Unemployment in the market is 30 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 6.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Transportation & Utilities: 277,700; +3,500
- Business Services: 240,300; +5,700
- Government: 159,000; +3,400
- Restaurants & Hotels: 139,500; -2,900
- Education & Healthcare: 138,600; +2,600
- Financial Services: 120,300; +400
- Manufacturing: 108,500; +700
- Construction, Mining: 75,000; +800
- Other Jobs: 49,200; +900
- IT & Development: 24,500; -200
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.