Overall unemployment rate moved up to 3.8% with the biggest shift in Government, which gained 500 roles, based on the most recently available information published in December 2022.
Total employment in the Hickory-Lenoir-Morganton, NC market declined by 498 jobs in October and the unemployment rate increased compared to the prior month by 70 bps to 3.8%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Hickory-Lenoir-Morganton, NC unemployment rate is 40 bps above the national rate which is a negative sign.
- Unemployment in the market is 20 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 11.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Manufacturing: 42,000; +100
- Transportation & Utilities: 31,700; +200
- Government: 23,100; +500
- Education & Healthcare: 19,400; +100
- Business Services: 14,800; +300
- Restaurants & Hotels: 12,100; -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.