Rowan County, NC€¦ · Historic & Projected Trends - Cont. Job Trends From 2012 to 2017, jobs...

Economy Overview

Rowan County, NC

Emsi Q4 2017 Data Set | www.economicmodeling.com

Economy Overview


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ContentsEconomy OverviewHistoric & Projected TrendsPopula on Characteris csIndustry Characteris csWorkforce Characteris csEduca onal Pipeline

Economy Overview


As of 2017 the region's popula on increased by 1.7%since 2012, growing by 2,352. Popula on is expectedto increase by 1.3% between 2017 and 2022, adding1,829.

From 2012 to 2017, jobs increased by 3.9% in RowanCounty, NC from 51,566 to 53,552. This change fellshort of the na onal growth rate of 7.2% by 3.3%. Asthe number of jobs increased, the labor forcepar cipa on rate increased from 56.4% to 58.1%between 2012 and 2017.

Concerning educa onal a ainment, 12.9% of RowanCounty, NC residents possess a Bachelor's Degree(5.5% below the na onal average), and 10.2% hold anAssociate's Degree (2.3% above the na onal average).

The top three industries in 2017 are Restaurants andOther Ea ng Places, Educa on and Hospitals (LocalGovernment), and Federal Government, Civilian.

Economy Overview140,182 53,552 $44.5K

Popula on (2017) Jobs (2017) Median Household Income (2016)Popula on grew by 2,352 overthe last 5 years and is projectedto grow by 1,829 over the next 5

years.

Jobs grew by 1,986 over the last5 years and are projected to grow

by 2,094 over the next 5 years.

Median household income is$10.8K below the na onal

median household income of$55.3K.

Economy Overview

Emsi Q4 2017 Data Set | www.economicmodeling.com 1

Economy Overview - Cont.Popula on(2017) Labor Force(2017) Jobs (2017) Cost ofLiving GRP Imports Exports

Region 140,182 66,549 53,552 96.5 $4.69B $8.76B $9.62BNa on 325,401,909 161,911,193 159,180,936 100.0 $17.83T $0 $7.90T

Economy Overview


Economy Overview - Cont.2017 Labor Force Breakdown

Popula on140,182

Educa onal A ainmentConcerning educa onal a ainment, 12.9% of Rowan County, NC residents possess a Bachelor's Degree (5.5% below thena onal average), and 10.2% hold an Associate's Degree (2.3% above the na onal average).

Popula onA Total Working Age Popula on 114,497A Not in Labor Force (15+) 47,948A Labor Force 66,549A Employed 63,558A Unemployed 2,991A Under 15 25,685

% of Popula on Popula onA Less Than 9th Grade 6.3% 6,076A 9th Grade to 12th Grade 11.5% 11,101A High School Diploma 33.3% 32,150A Some College 20.9% 20,214A Associate's Degree 10.2% 9,888A Bachelor's Degree 12.9% 12,434A Graduate Degree and Higher 5.0% 4,821

Economy Overview


Historic & Projected TrendsPopula on TrendsAs of 2017 the region's popula on increased by 1.7% since 2012, growing by 2,352. Popula on is expected to increase by1.3% between 2017 and 2022, adding 1,829.

Timeframe Popula on2012 137,8302013 138,1242014 138,5572015 139,0202016 139,9322017 140,1822018 140,6142019 141,0102020 141,3742021 141,7072022 142,011

Economy Overview


Historic & Projected Trends - Cont.Job TrendsFrom 2012 to 2017, jobs increased by 3.9% in Rowan County, NC from 51,566 to 53,552. This change fell short of the na onalgrowth rate of 7.2% by 3.3%.

Timeframe Jobs2012 51,5662013 50,3602014 51,2372015 53,2702016 53,5222017 53,5522018 54,1792019 54,6842020 55,1032021 55,4562022 55,646

Economy Overview


Historic & Projected Trends - Cont.Labor Force Par cipa on Rate Trends

Timeframe Labor Force Par cipa on Rate2012 56.75%2013 55.95%2014 55.30%2015 55.76%2016 57.21%January - April 2017 57.84%May 2017 57.91%June 2017 57.67%July 2017 58.12%

Economy Overview


Historic & Projected Trends - Cont.Unemployment Rate TrendsRowan County, NC had a July 2017 unemployment rate of 4.49%, decreasing from 10.88% 5 years before.

Timeframe Unemployment Rate2012 10.88%2013 9.27%2014 7.06%2015 6.11%2016 5.50%January - April 2017 5.06%May 2017 4.40%June 2017 4.26%July 2017 4.49%

Economy Overview


Rowan County, NC has 25,892millennials (ages 20-34). Thena onal average for an area thissize is 29,040.

Re rement risk is high in RowanCounty, NC. The na onal averagefor an area this size is 21,325people 65 or older, while there are23,850 here.

Racial diversity is low in RowanCounty, NC. The na onal averagefor an area this size is 54,200racially diverse people, while thereare 38,217 here.

Rowan County, NC has 8,826veterans. The na onal average foran area this size is 8,158.

Rowan County, NC has 2.93violent crimes per 1,000 people.The na onal rate is 3.75 per 1,000people.

Rowan County, NC has 20.67property crimes per 1,000 people.The na onal rate is 24.22 per1,000 people.

Popula on Characteris cs

25,892Millennials

23,850Re ring Soon

38,217Racial Diversity

8,826Veterans

2.93/1,000

Violent Crime

20.67/1,000

Property Crime

Economy Overview


Where Talent Works Where Talent Lives

Popula on Characteris cs - Cont.Place of Work vs Place of ResidenceUnderstanding where talent in Rowan County, NC currently works compared to where talent lives can help you op mize sitedecisions. For example, the #1 ranked ZIP for employment ranks #3 for resident workers. The top ZIP for resident workers is28146.

High Inbound Commuters High Outbound Commuters

ZIP Name 2017Employment28144 Salisbury, NC (in Rowan county)… 18,70228147 Salisbury, NC (in Rowan county)… 11,07428146 Salisbury, NC (in Rowan county)… 7,82928023 China Grove, NC (in Rowan county)… 3,75327013 Cleveland, NC (in Rowan county)… 3,208

ZIP Name 2017Workers28146 Salisbury, NC (in Rowan county)… 11,17928147 Salisbury, NC (in Rowan county)… 11,00428144 Salisbury, NC (in Rowan county)… 10,31628023 China Grove, NC (in Rowan county)… 6,90328138 Rockwell, NC (in Rowan county)… 4,981

Economy Overview


Industry Characteris csLargest Industries

Industry Jobs Na onal Average

0 1,000 2,000 3,000

Management of Companies and Enterprises

Local Government, Excluding Educa on andHospitals

Federal Government, Civilian

Educa on and Hospitals (Local Government)

Restaurants and Other Ea ng Places

Industry 2012Jobs 2017Jobs Change in Jobs(2012-2017) %Change 2017 EarningsPer WorkerRestaurants and Other Ea ng Places 3,067 3,608 541 +18% $16,386Educa on and Hospitals (Local Government) 2,867 2,758 -109 -4% $52,019Federal Government, Civilian 2,168 2,655 487 +22% $104,623Local Government, Excluding Educa on andHospitals 1,977 1,968 -9 0% $50,062

Management of Companies and Enterprises 1,452 1,697 245 +17% $123,237

Economy Overview


Industry Characteris cs - ContTop Growing Industries

Industry Jobs Change

0 100 200 300 400 500

Building Equipment Contractors

Management of Companies and Enterprises

Pharmaceu cal and Medicine Manufacturing

Federal Government, Civilian

Restaurants and Other Ea ng Places

Industry 2012 Jobs 2017 Jobs Change in Jobs(2012-2017) % Change 2017 EarningsPer WorkerRestaurants and Other Ea ng Places 3,067 3,608 541 +18% $16,386Federal Government, Civilian 2,168 2,655 487 +22% $104,623Pharmaceu cal and Medicine Manufacturing 172 500 328 +191% $67,083Management of Companies and Enterprises 1,452 1,697 245 +17% $123,237Building Equipment Contractors 1,020 1,226 206 +20% $51,888

Economy Overview


Workforce Characteris csLargest Occupa ons

Occupa on Jobs Na onal Average

0 500 1,000 1,500

Cashiers

Laborers and Freight, Stock, and Material Movers,Hand

Heavy and Tractor-Trailer Truck Drivers

Team Assemblers

Combined Food Prepara on and Serving Workers,Including Fast Food

Occupa on 2012Jobs 2017Jobs Change in Jobs(2012-2017) %Change2016 Avg.HourlyEarnings

Combined Food Prepara on and Serving Workers,Including Fast Food 1,329 1,591 262 +20% $8.27

Team Assemblers 2,261 1,337 -924 -41% $14.78Heavy and Tractor-Trailer Truck Drivers 1,128 1,306 178 +16% $19.73Laborers and Freight, Stock, and Material Movers,Hand 1,123 1,214 91 +8% $12.34

Cashiers 1,119 1,186 67 +6% $9.12

Economy Overview


Workforce Characteris cs - ContTop Growing Occupa ons

Occupa on Jobs Change

0 50 100 150 200 250

Home Health Aides

Waiters and Waitresses

Registered Nurses


Combined Food Prepara on and Serving Workers,Including Fast Food

Occupa on 2012Jobs 2017Jobs Change in Jobs(2012-2017) %Change2016 Avg.HourlyEarnings

Combined Food Prepara on and Serving Workers,Including Fast Food 1,329 1,591 262 +20% $8.27

Heavy and Tractor-Trailer Truck Drivers 1,128 1,306 178 +16% $19.73Registered Nurses 1,051 1,175 124 +12% $26.46Waiters and Waitresses 693 807 114 +16% $9.53Home Health Aides 509 618 109 +21% $8.73

Economy Overview


Workforce Characteris csTop Posted Occupa ons

Occupa on Jobs Change

0 500 1,000 1,500 2,000

Retail Salespersons

First-Line Supervisors of Food Prepara on andServing Workers

Registered Nurses

First-Line Supervisors of Retail Sales Workers


Occupa on Jan 2017Unique Pos ngs Dec 2017Unique Pos ngs Jan 2017 - Dec 2017Avg. Unique 2016 Avg.Hourly EarningsHeavy and Tractor-Trailer Truck Drivers 595 2,179 1,041 $19.73First-Line Supervisors of Retail SalesWorkers 107 132 122 $18.34

Registered Nurses 163 116 144 $26.46First-Line Supervisors of FoodPrepara on and Serving Workers 62 100 89 $14.38

Retail Salespersons 73 85 85 $11.40

Economy Overview


Educa onal PipelineIn 2016, there were 1,669 graduates in Rowan County, NC. This pipeline has shrunk by 10% over the last 5 years. The highestshare of these graduates come from Liberal Arts and Sciences/Liberal Studies, Medical Office Management/Administra on,and Office Management and Supervision.

Cer ficate Associate Bachelor Masters or Higher

School Total Graduates (2016) Graduate Trend (2012 -2016)Rowan-Cabarrus Community College 1,201

Catawba College 278

Livingstone College 151

Hood Theological Seminary 39

Economy Overview


Rowan County, NC€¦ · Historic & Projected Trends - Cont. Job Trends From 2012 to 2017, jobs...

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