What’s measured
This indicator is a measure of jobs categorized by industry for the years 2000 through 2005, using data from the Bureau of Labor Statistics, the North Carolina Employment Security Commission and the South Carolina Employment Security Commission. The study presents the data by county and region. The industry categories are broken down into the standard two digit sector codes, according to the North American Industry Classification System (NAICS). These data measure the number of jobs in the region, while the labor force employment figures discussed elsewhere measure the work status of people who live in the region. Because residents of the region hold jobs outside the region (and vice versa), and because people can hold more than one job, the numbers are not comparable. Why it’s measured
Measuring jobs by industry provides insight into the nature of the region’s economy and how the counties of the region differ. Examining these data over time provides insight into how the counties’ economies are changing. Indicator results
In 2005, among all industries, total employment was 1,073,313, down slightly from 1,082,601 in 2000 (but higher than any other year from 2000 through 2005). “Manufacturing” provided the most employment, accounting for 162,892 jobs and representing 15.2 percent of all employment. “Retail trade” was the second-largest source of jobs, at 121,183 jobs, or 11.3 percent of all employment. Though manufacturing remains an important source of employment, its share of total jobs fell every year from 2000 through 2005. Employment in “Finance and insurance” rose 38.1 percent from 45,047 in 2000 to 62,208 in 2005 (5.8 percent of all employment, which places it eighth in the region in share of total jobs). As expected, the majority of these jobs (over 50,000) are in Mecklenburg County, which is home to two of the nation’s largest banks. Similarly, “Health care and social assistance” employment rose 28.4 percent from 2000 through 2005. The 111,990 employed in this category represented 10.4 percent of all employment. Evaluation
This indicator shows the changing nature of the region’s economy. Manufacturing, long a strength of the region, remains important but is losing some of its prominence. The industries of finance and health care are on the rise, perhaps signaling a move from a manufacturing-based economy to a more service-based economy. If manufacturing continues to lose jobs, the region will need to focus on creating jobs in other industries. Overall, the region’s employment has been fairly stable across all industries. After declines in 2000 and 2001, employment has recovered. Connections
The make-up of the region’s economy has important implications for social services. As the nature of employment changes, the workforce will have to adapt. Workers who have labored in manufacturing may have a difficult time finding employment in new, expanding industries such as finance or health care. This could put a strain on social insurance networks. Nevertheless, the shifting nature of work provides an opportunity for educational institutions in the region to provide training to help the workforce adapt in a changing economy. If workers cannot find work, this will lead to problems with housing, income, health care, public safety, education, transportation and social well-being. |