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Attachment 3 14 <br /> cfe NC STATE <br /> THE NORTH CAROLINA ECONOMIC OUTLOOK <br /> FIRST QUARTER 2016 <br /> Prepared by Dr. Michael L. Walden, William Neal Reynolds Distinguished Professor, <br /> Department of Agricultural and Resource Economics,North Carolina State University <br /> Contact Methods: phone: 919-515-4671; e-mail: michaelwalden @ncsu.edu <br /> EIGHT NORTH CAROLINA ECONOMIC HEADLINES FOR 2016 <br /> 1. GROWTH WILL CONTINUE: STATE REAL GROSS DOMESTIC PRODUCT WILL RISE <br /> 3.5%, FASTER THAN THE NATIONAL RATE <br /> 2. 90,000 NET NEW PAYROLL JOBS WILL BE ADDED <br /> 3. "HEADLINE"JOBLESS RATE WILL FALL TO 5.1%BY YEAR'S END <br /> 4. FASTEST JOB GROWTH WILL BE IN HIGHER-PAYING FINANCIAL,INFORMATION, <br /> AND PROFESSIONAL/BUSINESS SECTORS BUT ALSO IN L O WER-PAYING <br /> LEISURE/HOSPITALITY AND PERSONAL SERVICE SECTORS <br /> 5. "HEADLINE"JOBLESS RATE WILL FALL TO UNDER 5%IN ASHEVILLE, <br /> BURLINGTON, CHARLOTTE,DURHAM,RALEIGH, WILMINTON,AND WINSTON- <br /> SALEM <br /> 6. "HEADLINE"JOBLESS RATE WILL BE NEAR OR ABOVE 6%IN FAYETTEVILLE, <br /> ROCKY MOUNT,AND RURAL NORTH CAROLINA <br /> 7. BIGGEST ECONOMC"PLUS" WLL BE FROM IMPROVED HOUSEHOLD FORMATION <br /> GENERATING NEW SPENDING <br /> 8. BIGGEST ECONOMIC"MINUS" WILL BE FROM THE END TO OIL AND GASOLINE <br /> PRICE DROPS—STILL, THOSE PRICES WILL REMAIN AFFORDABLE <br /> 1 <br />