FORECAST HIGHLIGHTS

• For 2022, NORTH CAROLINA real GDP increased by 3.8 percent over the 2021 level.

• Ten of the state’s 15 economic sectors experienced output increases during 2022. The sectors with the strongest growth rates were mining with a real increase of 33.0 percent, agriculture with a real increase of 29.9 percent, information with a real increase of 13.4 percent, business and professional services with a real increase of 12.2 percent, hospitality and leisure services with a real increase of 8.6 percent, government with a real increase of 8.0 percent, education and health services with a real increase of 6.3 percent, and other services with a real increase of 4.9 percent.

• For 2022, NORTH CAROLINA establishments added 163,600 net jobs during the year, an increase of 3.5 percent.

• For 2023, NORTH CAROLINA real GDP is forecast to increase by 1.4 percent over the 2022 level.

• Twelve of the state’s economic sectors are expected to experience output increases during 2023. The sectors with the strongest growth rates are agriculture with a real increase rate of 15.4 percent, information with a real increase of 7.2 percent, mining with a real increase of 7.0 percent, business and professional services with a real increase of 4.0 percent, educational and health services with a real increase of 3.4 percent, hospitality and leisure services with a real increase of 2.7 percent, other services with a real increase of 2.4 percent, and retail trade with a real increase of 2.4 percent.

• For 2023, NORTH CAROLINA establishments are forecast to add 78,300 net jobs, an increase of 1.6 percent.

• By December of 2023, the state’s unemployment rate is expected to be 4.0 percent.