Overall unemployment rate moved up to 3.4% with the biggest shift in Business Services, which lost 300 roles, based on the most recently available information published in June 2022.
Total employment in the Hickory-Lenoir-Morganton, NC market rose by 588 jobs in May and the unemployment rate increased compared to the prior month by 30 bps to 3.4%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Hickory-Lenoir-Morganton, NC unemployment rate is 2 bps above the national rate which is a negative sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 12.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Manufacturing: 41,900; +300
- Transportation & Utilities: 31,100; no change
- Government: 22,900; +100
- Education & Healthcare: 19,000; +100
- Business Services: 15,100; -300
- Restaurants & Hotels: 13,000; +300
- Construction, Mining: 5,200; no change
- Other Jobs: 4,700; +100
- Financial Services: 3,100; no change
- IT & Development: 700; no change
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.