Agenda - 02-21-2017-13-5 - Information Item - Memorandum - Second Quarter FY2016-17 Financial Report - Period Ending December 31, 2016

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24 Table 3. North Carolina and U.S. Real GDP Growth by Sector Ranked from High to Low Productivity, 2009-2015 (>> indicates significantly slower North Carolina Growth in High Productivity Sectors; > designates significantly faster North Carolina Growth in Low Productivity Sectors) Sector (listed from high to low productivity) N.C. Growth Rate U.S. Growth Rate >>Utilities -0.87% 5.41% >>Finance 8.62% 10.97% >>Nondurable Manufacturing -18.38% -4.48% >>Agriculture 2.37% 6.36% Information 25.16% 21.16% Durable Manufacturing 27.97% 26.90% Wholesale Trade 23.41% 19.54% Retail Trade 13.68% 15.11% Construction 0.87% 8.07% Transportation/Warehousing 10.66% 11.77% Professional Services 26.94% 17.48% > Arts/Leisure/Hospitality 28.98% 19.36% > Personal Services 6.37% 3.05% > Administrative Services 40.09% 25.37% Management 37.23% 40.08% Education/Heath Care 7.42% 11.56% Government -5.00% -1.10% Source: U.S. Dept.of Commerce Carolina's economy, which has been on-going for several decades, is continuing. Recent North Carolina economic growth has been characterized by two types of "unevenness." One is between workers, where those with more education and pay have done much better in the 21st century economy than those without these characteristics. The recent labor market has been characterized by a "hallowing-out," with slowest gains in middle-paying jobs. The second unevenness is between geographic regions of the state. The state's metropolitan counties, especially those around Charlotte and Raleigh, have raced ahead in the 21st century, capitalizing on their college-educated workforce and new-age industries in technology, medicine, finance, and professional services. For many of the state's small-town and rural counties, achieving economic growth is still a challenge. 9