Q2 2024 Economy Overview

Page 1


Contents

Report Parameters

Economy Overview

Unemployment by Demographics

Historic & Projected Trends

Popula on Characteris cs

Inbound and Outbound Migra on Industry Characteris cs

Business Characteris cs

Workforce Characteris cs

Educa onal Pipeline

In-Demand Skills

Report Parameters

1 County

37193Wilkes County, NC

Class of Worker

QCEW Employees, Non-QCEW Employees, and Self-Employed

The informa on in this report pertains to the chosen geographical area.

Economy Overview

64,96022,601$46.1K

Popula on (2023)Total Regional EmploymentMedian Household Income (2022)

Popula on decreased by 3,521 over the last 5 years and is projected to decrease by 4,326 over the next 5 years.

Takeaways

Jobs decreased by 2,578 over the last 5 years but are projected to grow by 386 over the next 5 years.

Median household income is $22.9K below the na onal median household income of $69.0K.

As of 2023 the region's popula on declined by 5.1% since 2018, falling by 3,521. Popula on is expected to decrease by 6.7% between 2023 and 2028, losing 4,326.

From 2018 to 2023, jobs declined by 10.2% in Wilkes County, NC from 25,179 to 22,601. This change fell short of the na onal growth rate of 3.9% by 14.1%. As the number of jobs declined, the labor force par cipa on rate decreased from 54.0% to 50.0% between 2018 and 2023

Concerning educa onal a ainment, 12.0% of Wilkes County, NC residents possess a Bachelor's Degree (9.1% below the na onal average), and 11.5% hold an Associate's Degree (2.7% above the na onal average).

The top three industries in 2023 are Animal Slaughtering and Processing, Restaurants and Other Ea ng Places, and Educa on and Hospitals (Local Government).

Popula on (2024)

Labor Force (Feb 2024) Jobs (2023) Cost of LivingGRPImportsExports

Region64,06326,07222,60194.5$2.56B$4.08B$3.19B State10,826,2675,244,1635,444,98695.2$726.93B$571.03B$675.29B

Educa onal A ainment

Concerning educa onal a ainment, 12.0% of Wilkes County, NC residents possess a Bachelor's Degree (9.1% below the na onal average), and 11.5% hold an Associate's Degree (2.7% above the na onal average).

Historic & Projected Trends

Popula on Trends

As of 2023 the region's popula on declined by 5.1% since 2018, falling by 3,521. Popula on is expected to decrease by 6.7% between 2023 and 2028, losing 4,326.

Job Trends

From 2018 to 2023, jobs declined by 10.2% in Wilkes County, NC from 25,179 to 22,601. This change fell short of the na onal growth rate of 3.9% by 14.1%.

Labor

Wilkes County, NC had a

Popula on Characteris cs

10,754 Millennials

Wilkes County, NC has 10,754 millennials (ages 25-39). The na onal average for an area this size is 13,376.

24,861

Re ring Soon

Re rement risk is high in Wilkes County, NC. The na onal average for an area this size is 19,714 people 55 or older, while there are 24,861 here.

9,223

Racial Diversity

Racial diversity is low in Wilkes County, NC. The na onal average for an area this size is 27,053 racially diverse people, while there are 9,223 here.

Wilkes County, NC has 3,983 veterans. The na onal average for an area this size is 3,441.

Wilkes County, NC has 2.46 violent crimes per 1,000 people. The na onal rate is 3.6 per 1,000 people.

Wilkes County, NC has 13.33 property crimes per 1,000 people. The na onal rate is 18.22 per 1,000 people.

Place of Work vs Place of Residence

Understanding where talent in Wilkes County, NC currently works compared to where talent lives can help you op mize site decisions. 28659 North Wilkesboro, NC (in Wilkes county)10,142 28697 Wilkesboro, NC (in Wilkes county) … 8,046 28651 Millers Creek, NC (in Wilkes county) 942

North Wilkesboro, NC (in Wilkes county)8,915

Millers Creek, NC (in Wilkes county) 2,598

28669 Roaring River, NC (in Wilkes county) … 622 28670 Ronda, NC (in Wilkes county) … 589

Hays, NC (in Wilkes county) … 1,574

Roaring River, NC (in Wilkes county) … 1,301

Inbound and Outbound Migra on

The table below analyzes past and current residents of Wilkes County, NC. The le column shows residents of other coun es migra ng to Wilkes County, NC. The right column shows residents migra ng from Wilkes County, NC to other coun es.

As of 2021, 199 people have migrated from Surry County, NC to Wilkes County, NC. In the same year, 195 people le Wilkes County, NC migra ng to Surry County, NC. The total Net Migra on for Wilkes County, NC in 2021 was 338

Surry County, NC Surry County, NC

Yadkin County, NC Yadkin County, NC

Iredell County, NC Iredell County, NC

Watauga County, NC

Caldwell County, NC Caldwell County, NC

Forsyth County, NC

Ashe County, NC Ashe County, NC

Mecklenburg County, NC Mecklenburg County, NC

Alexander County, NC Alexander County, NC

Guilford County, NC

Previous CountyWilkes County, NCFollowing County Surry

Surry County, NC Surry County, NC

Yadkin County, NC Yadkin County, NC

Forsyth County, NC Forsyth County, NC

Iredell County, NC Iredell County, NC

Ashe County, NC Ashe County, NC

Caldwell County, NC Caldwell County, NC

Catawba County, NC

Alexander County, NC Alexander County, NC

Johnston County, NC Johnston County, NC

York County, SC York County, SC

Top Previous Coun es Migra ons

Economy Overview

Industry Characteris cs

Largest Industries

Manufacturing

Government

Health Care and Social Assistance

Retail Trade

Accommoda on and Food Services

Other Services (except Public Administra on)

Construc on

Administra ve and Support and Waste Management and Remedia on Services

Wholesale Trade

Professional, Scien fic, and Technical Services

Transporta on and Warehousing

Finance and Insurance

Agriculture, Forestry, Fishing and Hun ng

Real Estate and Rental and Leasing

Informa on

Arts, Entertainment, and Recrea on Management of Companies and Enterprises

Educa onal Services

U li es

Mining, Quarrying, and Oil and Gas Extrac on

Top Growing Industries

Transporta on and Warehousing

Construc on

Professional, Scien fic, and Technical Services

Accommoda on and Food Services

Finance and Insurance

Top Industry Employment Concentra on

Industry Employment

Concentra on

Manufacturing

Retail Trade

Agriculture, Forestry, Fishing and Hun ng

Other Services (except Public Administra on)

Government

Health Care and Social Assistance

Wholesale Trade

Accommoda on and Food Services

Construc on

Administra ve and Support and Waste Management and Remedia on Services

Real Estate and Rental and Leasing

Arts, Entertainment, and Recrea on

Informa on U li es

Transporta on and Warehousing

Management of Companies and Enterprises

Finance and Insurance

Professional, Scien fic, and Technical Services

Mining, Quarrying, and Oil and Gas Extrac on

Educa onal Services

Top Industry GRP

Gross Regional Product

Manufacturing

Real Estate and Rental and Leasing

Retail Trade

Health Care and Social Assistance

Government

Wholesale Trade

Construc on

Agriculture, Forestry, Fishing and Hun ng

Finance and Insurance

Transporta on and Warehousing

Accommoda on and Food Services

Professional, Scien fic, and Technical Services

Informa on

Other Services (except Public Administra on)

Administra ve and Support and Waste Management and Remedia on Services

Management of Companies and Enterprises

U li es

Arts, Entertainment, and Recrea on

Mining, Quarrying, and Oil and Gas Extrac on Educa onal Services

Top Industry Earnings

Earnings Per Worker

U li es

Management of Companies and Enterprises

Finance and Insurance

Wholesale Trade

Informa on

Real Estate and Rental and Leasing

Transporta on and Warehousing

Professional, Scien fic, and Technical Services

Health Care and Social Assistance

Manufacturing

Mining, Quarrying, and Oil and Gas Extrac on Government

Construc on

Retail Trade

Agriculture, Forestry, Fishing and Hun ng

Administra ve and Support and Waste Management and Remedia on Services

Other Services (except Public Administra on)

Educa onal Services

Accommoda on and Food Services

Arts, Entertainment, and Recrea on

Business Characteris cs

4,173 Companies Employ Your Workers

Online profiles for your workers men on 4,173 companies as employers, with the top 10 appearing below. In the last 12 months, 439 companies in Wilkes County, NC posted job pos ngs, with the top 10 appearing below.

*Business Data by DatabaseUSA.com is third-party data provided by Lightcast to its customers as a convenience, and Lightcast does not endorse or warrant its accuracy or consistency with other published Lightcast data. In most cases, the Business Count will not match total companies with profiles on the summary tab.

Workforce Characteris cs

Largest Occupa ons

Occupa on Jobs Na onal Average

Produc on

Transporta on and Material Moving

Sales and Related

Office and Administra ve Support

Food Prepara on and Serving Related

Educa onal Instruc on and Library Management

Building and Grounds Cleaning and Maintenance

Healthcare Prac oners and Technical

Healthcare Support

Installa on, Maintenance, and Repair

Construc on and Extrac on

Business and Financial Opera ons

Personal Care and Service

Community and Social Service

Protec ve Service

Farming, Fishing, and Forestry

Arts, Design, Entertainment, Sports, and Media

Computer and Mathema cal

Architecture and Engineering

Life, Physical, and Social Science

Legal

Military-only

Top Growing Occupa ons

Educa onal Instruc on and Library

Healthcare Support

Healthcare Prac oners and Technical Arts, Design, Entertainment, Sports, and Media

Occupa on Jobs Growth

Top Occupa on Employment Concentra on

Occupa on Employment Concentra on

Produc on

Farming, Fishing, and Forestry

Building and Grounds Cleaning and Maintenance

Community and Social Service

Transporta on and Material Moving

Sales and Related

Educa onal Instruc on and Library

Installa on, Maintenance, and Repair

Food Prepara on and Serving Related

Healthcare Support

Personal Care and Service

Protec ve Service

Construc on and Extrac on

Healthcare Prac oners and Technical

Office and Administra ve Support

Management

Arts, Design, Entertainment, Sports, and Media

Life, Physical, and Social Science

Military-only

Business and Financial Opera ons

Legal

Architecture and Engineering

Computer and Mathema cal

Top Occupa on Earnings

Management

Computer and Mathema cal

Healthcare Prac oners and Technical

Architecture and Engineering

Business and Financial Opera ons

Life, Physical, and Social Science

Legal

Community and Social Service

Installa on, Maintenance, and Repair

Educa onal Instruc on and Library

Arts, Design, Entertainment, Sports, and Media

Protec ve Service

Construc on and Extrac on

Office and Administra ve Support

Transporta on and Material Moving

Produc on

Military-only

Sales and Related

Healthcare Support

Farming, Fishing, and Forestry

Building and Grounds Cleaning and Maintenance

Personal Care and Service

Food Prepara on and Serving Related

Economy Overview

Top Posted Occupa ons

Healthcare Prac oners and Technical

Sales and Related

Healthcare Support

Transporta on and Material Moving Management

Educa onal Instruc on and Library

Office and Administra ve Support

Installa on, Maintenance, and Repair

Community and Social Service

Food Prepara on and Serving Related

Produc on

Business and Financial Opera ons

Construc on and Extrac on

Arts, Design, Entertainment, Sports, and Media

Building and Grounds

Cleaning and Maintenance

Life, Physical, and Social Science

Computer and Mathema cal

Protec ve Service

Farming, Fishing, and Forestry

Architecture and Engineering

Personal Care and Service

Underemployment

Jobs Requiring Ed. Level Popula on at Ed. Level

No Formal Educa on Required

High School Diploma or Equivalent

Some College, Non-Degree Award

Associate's Degree

Bachelor's Degree

Graduate Degree and Higher

Educa onal Pipeline

In 2022, there were 1,085 graduates in Wilkes County, NC. This pipeline has shrunk by 10% over the last 4 years. The highest share of these graduates come from "Liberal Arts and Sciences/Liberal Studies" (Associate's), "Automobile/Automo ve Mechanics Technology/Technician" (Cer ficate), and "Animal/Livestock Husbandry and Produc on" (Cer ficate).

School Total Graduates (2022)

Wilkes Community College1,085

Cer ficate Associate's Bachelor's

Graduate Trend (20192022)

Master's or Higher

In-Demand Skills

Top Specialized Skills Na onal Average

Nursing

Merchandising

Home Health Care

Inventory Management

Data Collec on

Housekeeping

Cash Register

Scien fic Methods

Selling Techniques

Restaurant Opera on

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Q2 2024 Economy Overview by WilkesEDC - Issuu