Metro Wilmington Has State’s 4th-lowest Jobless Rate

BY SCOTT NUNN, POSTED FEB 2, 2022

Although the pandemic has skewed some employment data, the Wilmington Metropolitan Statistical Area finished the year strong, according to numbers released Wednesday by the N.C. Department of Commerce.
 
Unemployment in the MSA dropped to 2.7% in December, a slight improvement over November’s 2.9% and well below December 2020’s 5.5%.
 
The December numbers left the MSA, which includes New Hanover and Pender counties, with the fourth-lowest jobless rate in the state, trailing only Durham/Chapel Hill (2.5%), Asheville (2.6%) and Raleigh (2.6%).
 
At the county level, both New Hanover and Pender performed strong, each with 2.7% unemployment. Brunswick County, which the federal government considers a part of the Myrtle Beach metropolitan area, had a jobless rate of 4.2%, a modest improvement over November’s 4.4% and significantly better than the December 2020 rate of 7.3%.
 
Because of significant seasonal changes, the commerce department said that year-over-year numbers are the best employment indicators.
 
Statewide, the December unemployment rate was 3.2%, compared with 6% in December 2020.
 
“Wilmington’s economy is improving each day, and these low unemployment numbers and strong job-growth numbers demonstrate that trend,” Wilmington Chamber of Commerce President and CEO Natalie English said. “Our economy is becoming more balanced with new, emerging sectors that are further defining our region as a hub for business.”
 
The uptick in generally higher-paying jobs is notable for Wilmington, which in recent years has underperformed in what is known as the traded sector – goods sold beyond the region they were made in.
 
“There’s positive growth in local industry clusters that represent quality wages and jobs,” English said, adding that growing talent currently is a leading issue for businesses.
 
“Fortunately, our community benefits from targeted career training available at Cape Fear Community College, so we can develop the pipelines of talent our employers need most,” English said. “Our community is an attractive destination and draw for workers regionally, so I believe there are still opportunities to grow our workforce.”
 
A deeper dive into numbers shows that the Wilmington Metropolitan Statistical Area added 8,800 jobs in 2021, with 1,100 added in December. The trade, transportation and utilities created most of December’s new jobs, adding 500 positions.
 
The yearly changes in specific sectors require a COVID caveat: Although the leisure and hospitality sector added the most metro jobs (2,900) last year, the increase was primarily driven by the bounce back from COVID-19 restrictions in 2020, which saw the sector shed 6,000 workers in metro Wilmington. That leaves more than 3,000 jobs missing from pre-pandemic numbers.
 
Excluding that especially volatile sector, the top job creators last year were professional and business services (2,800), followed by government (1,100).
 
English said that trends in automation, e-commerce, telework and retirement may be accelerating faster than previously predicted, disrupting the labor market. 
 
“Expanding talent development programs to ensure we maintain a diverse, skilled and ready workforce,” she said, “will be critical to ensure we continue supporting an economy that leads to prosperity for all people.”


Source: https://www.wilmingtonbiz.com/more_news/2022/02/02/metro_wilmington_has_state%E2%80%99s_4th-lowest_jobless_rate/22822