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10 <br /> FORECAST <br /> HIGHLIGHTS <br /> Annual Growth Rates In Real GSP <br /> • For 2020, NORTH CAROLINA real GSP is expected to decrease by 2.6 <br /> 4_ <br /> 3— percent over the 2019 level. <br /> I <br /> 2— S 9 0 S <br /> 1 — Z Z Z • Twelve of the state's 15 economic sectors are forecast to experience output <br /> 0 — decreases during 2020. The sectors with the largest expected declines are <br /> -1 — 9 <br /> Z hospitality and leisure services with a projected real decrease of 27.6 percent, <br /> -2 — other services with a projected real decrease of 10.1 percent, agriculture with a <br /> -3 projected real decrease of 8.2 percent, durable goods manufacturing with a <br /> -4 - <br /> _ projected real decrease of 6.4 percent, and education and health services with a <br /> 5 projected real decrease of 5.7 percent. <br /> 2017 2018 2019 2020 2021f • For 2020, NORTH CAROLINA establishments are expected to lose 190,700 <br /> GSP/Gross State Product is a yardstick that measures net jobs during the year, a decrease of 4.2 percent. <br /> the total output of a state's economy for a given year. It .For 2021,NORTH CAROLINA real GSP is forecast to increase by 5.1 percent <br /> is analogous to the U.S. Gross Domestic Product over the 2020 level. <br /> (GDP). <br /> • Fourteen of the state's 15 economic sectors are expected to experience output <br /> Year-End Seasonally Adjusted North Carolina increases during 2021. The sectors with the strongest expected growth rates are <br /> Unemployment Rates hospitality and leisure services with a real increase of 15.2 percent, agriculture <br /> 8 with a real growth rate of 9.2 percent, educational and health services with a <br /> real increase of 7.2 percent, retail trade with real increases of 6.7 percent, and <br /> durable goods manufacturing with a real increase of 6.0 percent. <br /> 4 6 •For 2021,NORTH CAROLINA establishments are forecast to add 199,300 net <br /> 2 4. 4. 3 3 jobs,an increase of 4.5 percent. <br /> 2 0 6 <br /> I — i •The North Carolina unemployment rate peaked at 12.9 percent in April and by <br /> 2017 2018 2019 2020 2021f December of 2020,the state's unemployment rate had fallen to 6.3 percent. <br />