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Agenda - 11-02-2017 -12-5 - Memorandum - First Quarter FY2017-18 Financial Report- Period Ending September 30, 2017
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Agenda - 11-02-2017 -12-5 - Memorandum - First Quarter FY2017-18 Financial Report- Period Ending September 30, 2017
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10/27/2017 8:56:50 AM
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BOCC
Date
11/2/2017
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
12-5
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18 <br /> Figure 6. The "Hollowing-Out" of the Labor Market, Percentage Change, 2001-2015 <br /> (Percentage Change in Jobs Classified by Level of Pay in North Carolina and the US). <br /> 30 <br /> 20 <br /> I I 1111111 <br /> Q <br /> 10 <br /> Hugh Payung P` uddOe Payung I...ow Payung <br /> IIIIIIIIII NC •US <br /> Source: U.S. Bureau of Labor Statistics. <br /> Hence, during the current economic recovery cycle, compared to the nation, more of <br /> North Carolina's economic growth has been created by increases in the labor force than by <br /> improvements in labor productivity. <br /> Regional Trends <br /> Figure 7 shows a clear trend of faster job growth continuing to occur in North Carolina's <br /> larger regions during the current economic recovery. Indeed, the Charlotte and Raleigh <br /> metropolitan areas accounted for 64% of the state's job growth during the period. Wilmington, <br /> Asheville, and Durham also had above-state-average job growth. Two regions, Goldsboro and <br /> Rocky Mount, lost jobs in the 2010-2017 time span. <br /> The regional labor market trends reflect the differing impacts on localities of large <br /> economic and social trends impacting the nation and state. Among these are the growth of <br /> expanding industries in technology, research, and financial services in large metropolitan regions <br /> 7 <br />
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