The North Carolina Labor & Economic Analysis Division (LEAD) recently announced its 2032 Regional Long Term Industry Projections. The report anticipates over 500,000 new jobs in North Carolina between 2022 and 2032, marking a 10% increase. However, employment trends are expected to vary considerably across different regions and industries.
LEAD has divided the state into 16 regions based on North Carolina’s eight Prosperity Zones. Additional analysis of commuting patterns, and input from workforce and education partners, further delineated these into Sub-Prosperity Zones, or Sub-PZs, to better represent local labor markets. While the Charlotte zone remains whole, the Southeast Prosperity Zone is split into Goldsboro-Kinston, Jacksonville-New Bern, and Wilmington.
Projections indicate that all regions will experience job growth, with Raleigh-Durham showing a significant 12.2% increase and Rocky Mount-Wilson witnessing a modest 1.5% rise. Major urban areas like Charlotte, Raleigh-Durham, and Wilmington are expected to surpass the statewide growth average, while Asheville is slightly below.
“These projections offer valuable insights to support future planning efforts,” the report states. “Workforce boards and economic developers can use the data to strengthen strategic planning, prioritize resource allocation, and attract or retain businesses.”
The projected growth is concentrated in service-providing sectors, except for regions like Elizabeth City, Goldsboro-Kinston, Greenville, and Rocky Mount-Wilson, which are set to see more expansion in goods-producing sectors.
The leading growth sectors are Professional, Scientific, and Technical Services in five Sub-PZs, and Accommodation and Food Services in four. Growth in professional services is driven by Computer Systems Design in Charlotte, Greenville, and Raleigh-Durham, and Management Consulting Services in Jacksonville-New Bern and Pinehurst-Rockingham. The growth in Accommodation and Food Services largely sprouts from gains in Food Services and Drinking Places. Other notable sectors include Administrative Services, Health Care, Real Estate, Construction, and Transportation.
The report emphasizes the significance of projections in facilitating strategic planning for workforce boards, economic developers, educational providers, and job seekers. They enable stakeholders to anticipate opportunities and challenges in North Carolina’s evolving economy.
This comprehensive data is available for further exploration on LEAD’s industry projections dashboard.
