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6 <br /> <br /> Each of the rates in 2017 was less than half their level in 2010, both for North Carolina <br />and the nation. However, in 2017 North Carolina’s average annual “headline” and “U5” rates <br />were slightly higher than their national counterparts, while the state’s “U6” unemployment rate <br />was slightly lower than the comparable national “U6” rate. <br /> North Carolina’s labor force participation rate also improved in 2017, rising to 61.6% in <br />October. The rate measures the percentage of individuals aged 16 years and older who are in the <br />labor force, meaning they are working or actively looking for work. The state’s rate continues to <br />track the national rate, but has been averaging a full percentage point higher. <br /> North Carolina workers saw larger gains than their national counterparts in their real <br />hourly wages – wage gains after subtracting inflation – in 2017 (Figure 6). This repeats the <br />result seen in 2015 and reverses the pattern experienced for most of the years immediately after <br />the recession when national gains exceeded North Carolina gains. A likely reason is the faster <br />growing North Carolina economy compared to the national economy in recent years. <br /> Last, Figure 7 shows that the labor market phenomenon of “hollowing-out” persisted in <br />2017 in North Carolina. “Hollowing-out” means growth in jobs occurs at both the “high-paying” <br />end as well as the “low-paying” end, with little or no growth in “middle-paying” jobs.2 <br />Although the annual rates in 2017 were slightly lower for “high-paying” and “low-paying” jobs <br /> <br />Figure 6. Annual Real Wage Rate Changes (%), NC and the U.S., 2010-2017. <br /> <br />Source: U.S. Bureau of Labor Statistics; October of each year using the CPI deflator; private sector wages. <br /> <br />2 For the definitions of “high-paying”, “middle-paying”, and “low-paying”, see Michael L. Walden, “North Carolina’s <br />‘U-Turn’ and Alternative Economic Paths of the State’s Regions,” Studies in the North Carolina Economy, July 2017. <br />-3 <br />-2 <br />-1 <br />0 <br />1 <br />2 <br />3 <br />4 <br />5 <br />2010 2011 2012 2013 2014 2015 2016 2017 <br />% <br />Axis Title <br />NC US <br />13