Economic Data
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“In 2012, 36% of the nation’s young adults ages 18 to 31—the so-called Millennial generation—were living in their parents’ home... This is the highest share in at least four decades and represents a slow but steady increase over the 32% of their same-aged counterparts who were living at home prior to the Great Recession in 2007 and the 34% doing so when it officially ended in 2009…. The steady rise in the share of…
In celebration of Labor Day, a national holiday created to recognize the social and economic achievements of American workers, here's a quick look at some data about North Carolina's labor force. 4.7 million North Carolinians 16 and over were in the civilian labor force in 2013. Among wage and salary employees working in non-farm establishments, nearly a quarter (22.5%) were employed in one of these 10 occupations in 2013: 117,000 North Carolina employees were members…
In 1880, 14% of U.S. workers were employed in manufacturing; in North Carolina, 4% were (most were working on farms). Employment in manufacturing grew steadily in both the nation and the state through mid-twentieth century. By 1930, 22% of North Carolina workers were employed in manufacturing, matching the national rate. National employment in manufacturing peaked in 1960 (27%) and subsequently declined. Since 1940, North Carolina’s share of employees in the manufacturing industry has been higher…
“The U.S. workforce has never been older. The share of workers ages 55 and over hit 22.2 percent in July, according to data released last week by the Bureau of Labor Statistics. That’s the highest since record-keeping began in 1948.” – Peter Coy, “American Workers Are Older Than Ever” at Bloomberg Businessweek Although I don’t have data for North Carolina going back to 1948, the Current Population Survey shows similar trends are occurring in North…
In 1870, just over half of the nation’s laborers were working on farms; in North Carolina, four of every five workers were employed in agriculture. While the share of workers employed in agriculture, forestry, and fishing industries steadily declined, North Carolina had a higher share of workers employed in agriculture than the nation until 1990. Today, the agricultural, forestry, and fishing industries employ fewer than 3% of all workers.
With respect to average hours worked, North Carolina is...pretty average, at least compared to the United States. In 2013, North Carolina employees worked an average of 34.5 hours per week or 1,794 hours per year. The U.S. average was 34.4 hours per week or 1,788 hours per year. Among the states, North Carolina was 24th for average weekly hours worked. Texas had the highest hours worked (36.3) and Delaware the lowest (32.6). Average hours worked per week…
“Young adults ages 20 to 24 are more likely to be neither working nor enrolled in school than their counterparts two decades ago. […] The numbers are worrying because people in their early twenties are at a critical juncture in their lives. The questions they’re tackling—What should I do for a living? Should I get a degree in this or that? How can I land a good first job?—will shape the rest of their lives.…
Researchers at UNC’s Center for Urban and Regional Studies identified 162 economically distressed tracts in North Carolina based on the 2007-2011 American Community Survey. Each distressed tract met three criteria: Unemployment rate greater than or equal to 14.5% Annual per capita income less than or equal to $16,921 Poverty rate greater than or equal to 24% Statewide, these 162 tracts represent 7.4% of North Carolina’s 2,195 census tracts. An additional 477 census tracts were not…
After reading this article about trends in non-earned income, I became curious about the trends in overall personal income by source. The U.S. Department of Commerce’s Bureau of Economic Analysis has a wealth of local and regional data. They report annual aggregate personal income, as well as the source of personal income. Because the BEA measures include the value of “in-kind” transfers, such as Food Stamps (SNAP) and medical payments from Medicaid/Medicare, they capture the…
“One of the defining features of the Great Recession and not-so-great recovery has been the surge in long-term unemployment… Analysts have advanced several explanations for the persistence of long-term unemployment: an unintended consequence of extending jobless benefits; a mismatch between the skills unemployed workers have and what employers want; a breakdown in the efficiency of labor markets; or simply bad timing. Whatever the reason, it’s a major concern for policymakers, who fear that many of the long-term unemployed may never find their way back into…
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