Economy Overview
Wilkes County, NC
150 Faye eville St., Suite 1200 Raleigh, North Carolina 27601
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Economy Overview
Contents .Report . . . . . . Parameters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1. . . . . . . .Economy . . . . . . . . Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . .Unemployment . . . . . . . . . . . . . . by . . .Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . . .Historic . . . . . . .& . . Projected . . . . . . . . . .Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8. . . . . . . .Popula . . . . . . .on . . .Characteris . . . . . . . . . . . cs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 ........ .Inbound . . . . . . . .and . . . .Outbound . . . . . . . . . .Migra . . . . . . on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 ........ .Industry . . . . . . . .Characteris . . . . . . . . . . .cs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 ........ .Business . . . . . . . . Characteris . . . . . . . . . . . .cs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 ........ .Workforce . . . . . . . . . .Characteris . . . . . . . . . . . cs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 ........ .Educa . . . . . . onal . . . . .Pipeline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 ........ .In-Demand . . . . . . . . . . Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30 ........
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Economy Overview
Report Parameters 1 County 37193
Wilkes 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.
Emsi Q2 2022 Data Set | www.economicmodeling.com
1
Economy Overview
Economy Overview 68,062
23,255
$44.1K
Popula on (2021)
Total Regional Employment
Median Household Income (2019)
Popula on decreased by 511 over the last 5 years and is projected to decrease by 475 over the next 5 years.
Jobs decreased by 1,851 over the last 5 years but are projected to grow by 476 over the next 5 years.
Median household income is $18.7K below the na onal median household income of $62.8K.
Takeaways As of 2021 the region's popula on declined by 0.7% since 2016, falling by 511. Popula on is expected to decrease by 0.7% between 2021 and 2026, losing 475. From 2016 to 2021, jobs declined by 7.4% in Wilkes County, NC from 25,106 to 23,255. This change fell short of the na onal growth rate of 0.7% by 8.1%. As the number of jobs declined, the labor force par cipa on rate decreased from 53.7% to 51.1% between 2016 and 2021. Concerning educa onal a ainment, 12.2% of Wilkes County, NC residents possess a Bachelor's Degree (8.1% below the na onal average), and 11.5% hold an Associate's Degree (2.8% above the na onal average). The top three industries in 2021 are Animal Slaughtering and Processing, Restaurants and Other Ea ng Places, and Educa on and Hospitals (Local Government).
Region State
Popula on (2021)
Labor Force (2021)
Jobs (2021)
Cost of Living
GRP
Imports
Exports
68,062
28,314
23,255
95.3
$2.42B
$3.65B
$3.10B
10,734,858
5,070,356
5,107,740
95.6
$613.22B
$482.02B
$593.72B
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2
Economy Overview
Dec 2021 Labor Force Breakdown Popula on A
68,062 Popula on
16+ Civilian Non-Ins tu onalized Popula on
55,423
A
Not in Labor Force (16+)
27,109
A
Labor Force
28,314
A
Employed
A
Unemployed
A
27,472 842
Under 16, Military, and ins tu onalized Popula on
12,639
Educa onal A ainment Concerning educa onal a ainment, 12.2% of Wilkes County, NC residents possess a Bachelor's Degree (8.1% below the na onal average), and 11.5% hold an Associate's Degree (2.8% above the na onal average). % of Popula on
Popula on
5.9%
2,900
A
Less Than 9th Grade
A
9th Grade to 12th Grade
11.8%
5,842
A
High School Diploma
31.3%
15,479
A
Some College
22.7%
11,235
A
Associate's Degree
11.5%
5,676
A
Bachelor's Degree
12.2%
6,058
A
Graduate Degree and Higher
4.6%
2,294
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3
Economy Overview
Unemployment by Demographics Unemployment by Age
Age
Unemployment (Jan 2022)
% of Cohort
< 22
24
2.43%
22-24
42
4.25%
25-34
246
24.87%
35-44
248
25.08%
45-54
207
20.93%
55-59
98
9.91%
60-64
74
7.48%
65+
49
4.95%
989
100.00%
Total
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4
Economy Overview
Unemployment by Gender
Gender
Unemployment (Jan 2022)
% of Cohort
Females
563
56.93%
Males
426
43.07%
989
100.00%
Total
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5
Economy Overview
Unemployment by Race
Unemployment (Jan 2022)
% of Cohort
American Indian or Alaskan Na ve
15
1.52%
Asian
13
1.31%
372
37.61%
2
0.20%
587
59.35%
989
100.00%
Race
Black or African American Na ve Hawaiian or Other Pacific Islander White Total
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6
Economy Overview
Unemployment by Ethnicity
Ethnicity Hispanic or La no Not Hispanic or La no Total
Emsi Q2 2022 Data Set | www.economicmodeling.com
Unemployment (Jan 2022)
% of Cohort
65
6.57%
924
93.43%
989
100.00%
7
Economy Overview
Historic & Projected Trends Popula on Trends As of 2021 the region's popula on declined by 0.7% since 2016, falling by 511. Popula on is expected to decrease by 0.7% between 2021 and 2026, losing 475.
Timeframe
Popula on
2016
68,573
2017
68,461
2018
68,481
2019
68,296
2020
68,043
2021
68,062
2022
67,979
2023
67,909
2024
67,816
2025
67,716
2026
67,587
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8
Economy Overview
Job Trends From 2016 to 2021, jobs declined by 7.4% in Wilkes County, NC from 25,106 to 23,255. This change fell short of the na onal growth rate of 0.7% by 8.1%.
Timeframe
Jobs
2016
25,106
2017
25,691
2018
25,184
2019
24,474
2020
23,305
2021
23,255
2022
23,409
2023
23,528
2024
23,624
2025
23,697
2026
23,732
Emsi Q2 2022 Data Set | www.economicmodeling.com
9
Economy Overview
Labor Force Par cipa on Rate Trends
Timeframe
Labor Force Par cipa on Rate
2017
55.75%
2018
54.38%
2019
53.30%
2020
51.52%
January - October 2021
50.82%
November 2021
51.25%
December 2021
51.09%
January 2022
48.90%
Emsi Q2 2022 Data Set | www.economicmodeling.com
10
Economy Overview
Unemployment Rate Trends Wilkes County, NC had a January 2022 unemployment rate of 3.64%, decreasing from 4.27% 5 years before.
Timeframe
Unemployment Rate
2017
4.27%
2018
3.83%
2019
3.90%
2020
6.85%
January - October 2021
4.50%
November 2021
3.29%
December 2021
2.97%
January 2022
3.64%
Emsi Q2 2022 Data Set | www.economicmodeling.com
11
Economy Overview
Popula on Characteris cs
10,999
25,612
8,994
Millennials
Re ring Soon
Racial Diversity
Wilkes County, NC has 10,999
Re rement risk is high in Wilkes
Racial diversity is low in Wilkes
millennials (ages 25-39). The
County, NC. The na onal average
County, NC. The na onal average
na onal average for an area this
for an area this size is 20,251
for an area this size is 27,407
size is 14,022.
people 55 or older, while there are
racially diverse people, while there
25,612 here.
are 8,994 here.
4,197
2.51/1,000
15.95/1,000
Veterans
Violent Crime
Property Crime
Wilkes County, NC has 4,197
Wilkes County, NC has 2.51
Wilkes County, NC has 15.95
veterans. The na onal average for
violent crimes per 1,000 people.
property crimes per 1,000 people.
an area this size is 3,792.
The na onal rate is 3.62 per 1,000
The na onal rate is 17.91 per
people.
1,000 people.
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12
Economy Overview
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.
Where Talent Works ZIP
Name
28659
Where Talent Lives 2021 Employment
2021 Workers
ZIP
Name
North Wilkesboro, NC (in … Wilkes county) 11,516
28659
North Wilkesboro, NC (in … Wilkes county) 8,503
28697
Wilkesboro, NC (in Wilkes … county)
6,903
28697
Wilkesboro, NC (in Wilkes … county)
28651
Millers Creek, NC (in Wilkes … county) 1,046
28651
Millers Creek, NC (in Wilkes … county) 3,043
28654
Moravian Falls, NC (in Wilkes … county) 651
28635
Hays, NC (in Wilkes county) …
28670
Ronda, NC (in Wilkes county) …
28654
Moravian Falls, NC (in Wilkes … county)1,557
Emsi Q2 2022 Data Set | www.economicmodeling.com
534
4,808
1,583
13
Economy Overview
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 2019, 216 people have migrated from Surry County, NC to Wilkes County, NC. In the same year, 172 people le Wilkes County, NC migra ng to Surry County, NC. The total Net Migra on for Wilkes County, NC in 2019 was -37.
Previous County
Wilkes County, NC
Following County
Surry County, NC Surry County, NC
Yadkin County, NC Yadkin County, NC
Iredell County, NC Iredell County, NC
Forsyth County, NC
Watauga County, NC Ashe County, NC Mecklenburg County, NC Alexander County, NC
Forsyth County, NC
Caldwell County, NC Guilford County, NC Mecklenburg County, NC Alexander County, NC
Caldwell County, NC
Ashe County, NC
Guilford County, NC
Sarasota County, FL
Top Previous Coun es
Migra ons
Surry County, NC
216
Yadkin County, NC
125
Iredell County, NC
84
Forsyth County, NC
63
Watauga County, NC
61
Ashe County, NC
57
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14
Economy Overview
Top Previous Coun es
Migra ons
Mecklenburg County, NC
48
Alexander County, NC
47
Caldwell County, NC
43
Guilford County, NC
37
Dare County, NC
21
Davidson County, NC
18
Buncombe County, NC
18
Charleston County, SC
17
Monroe County, PA
16
Top Following Coun es
Migra ons
Surry County, NC
172
Yadkin County, NC
154
Iredell County, NC
126
Forsyth County, NC
88
Caldwell County, NC
62
Guilford County, NC
50
Mecklenburg County, NC
46
Alexander County, NC
45
Ashe County, NC
38
Sarasota County, FL
35
Catawba County, NC
35
Manatee County, FL
34
Beaufort County, SC
34
New Hanover County, NC
31
Johnston County, NC
29
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15
Economy Overview
Industry Characteris cs Largest Industries Industry Jobs
Na onal Average
Manufacturing Government Retail Trade Health Care and Social Assistance Other Services (except Public Administra on) Accommoda on and Food Services Construc on Administra ve and Support and Waste Management and Remedia on Services Management of Companies and Enterprises Wholesale Trade Professional, Scien fic, and Technical Services Transporta on and Warehousing Agriculture, Forestry, Fishing and Hun ng Finance and Insurance Real Estate and Rental and Leasing Informa on Arts, Entertainment, and Recrea on Educa onal Services U li es Mining, Quarrying, and Oil and Gas Extrac on 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
1,000
2,000
3,000
4,000
16
Economy Overview
Top Growing Industries Industry Jobs Growth Health Care and Social Assistance Retail Trade Administra ve and Support and Waste Management and Remedia on Services Other Services (except Public Administra on) Transporta on and Warehousing Construc on Professional, Scien fic, and Technical Services Informa on Finance and Insurance U li es Real Estate and Rental and Leasing 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
200
400
600
17
Economy Overview
Top Industry Loca on Quo ent Industry Loca on Quo ent Management of Companies and Enterprises Manufacturing Retail Trade Other Services (except Public Administra on) Agriculture, Forestry, Fishing and Hun ng Government Construc on Accommoda on and Food Services Health Care and Social Assistance Wholesale Trade Real Estate and Rental and Leasing Administra ve and Support and Waste Management and Remedia on Services Arts, Entertainment, and Recrea on Informa on U li es Transporta on and Warehousing Professional, Scien fic, and Technical Services Finance and Insurance Mining, Quarrying, and Oil and Gas Extrac on Educa onal Services 0.00
Emsi Q2 2022 Data Set | www.economicmodeling.com
1.00
2.00
18
Economy Overview
Top Industry GRP Gross Regional Product Manufacturing Real Estate and Rental and Leasing Retail Trade Government Health Care and Social Assistance Wholesale Trade Construc on Finance and Insurance Informa on Agriculture, Forestry, Fishing and Hun ng Accommoda on and Food Services Other Services (except Public Administra on) Management of Companies and Enterprises Professional, Scien fic, and Technical Services Transporta on and Warehousing Administra ve and Support and Waste Management and Remedia on Services U li es Arts, Entertainment, and Recrea on Mining, Quarrying, and Oil and Gas Extrac on Educa onal Services $0.000
Emsi Q2 2022 Data Set | www.economicmodeling.com
$100.0M
$200.0M
$300.0M
$400.0M
19
Economy Overview
Top Industry Earnings Earnings Per Worker U li es Wholesale Trade Finance and Insurance Informa on Mining, Quarrying, and Oil and Gas Extrac on Transporta on and Warehousing Manufacturing Real Estate and Rental and Leasing Health Care and Social Assistance Management of Companies and Enterprises Government Professional, Scien fic, and Technical Services 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) Accommoda on and Food Services Arts, Entertainment, and Recrea on Educa onal Services $0
Emsi Q2 2022 Data Set | www.economicmodeling.com
$20,000
$40,000
$60,000
$80,000
$100,000
20
Economy Overview
Business Characteris cs 2,401 Companies Employ Your Workers Online profiles for your workers men on 2,401 companies as employers, with the top 10 appearing below. In the last 12 months, 260 companies in Wilkes County, NC posted job pos ngs, with the top 10 appearing below.
Top Companies
Profiles
Top Companies Pos ng
Unique Pos ngs
Lowe's
913
Wilkes County Schools
307
Tyson Foods
229
Tyson Foods
220
Wilkes Community College
218
Lowe's
136
Wilkes County Schools
217
Elon University
130
Wilkes Regional Medical Center
101
Allied Universal
79
Ecmd
71
BAYADA Home Health Care
65
Wake Forest Bap st Health
65
Samaritan's Purse Interna onal … Limited
63
Carolina West Wireless
61
Lowes Foods
58
Samaritan's Purse Interna onal Limited …
56
Wake Forest Bap st Health
52
Walmart
56
Bap st Health
34
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21
Economy Overview
Business Size Percentage
Business Count
A
1 to 4 employees
34.4%
786
A
5 to 9 employees
30.8%
705
A
10 to 19 employees
20.7%
473
A
20 to 49 employees
10.7%
245
A
50 to 99 employees
2.0%
45
A
100 to 249 employees
0.9%
21
A
250 to 499 employees
0.3%
7
A
500+ employees
0.2%
5
*Business Data by DatabaseUSA.com is third-party data provided by Emsi to its customers as a convenience, and Emsi does not endorse or warrant its accuracy or consistency with other published Emsi data. In most cases, the Business Count will not match total companies with profiles on the summary tab.
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22
Economy Overview
Workforce Characteris cs Largest Occupa ons Occupa on Jobs
Na onal Average
Sales and Related Produc on Transporta on and Material Moving Office and Administra ve Support Food Prepara on and Serving Related Educa onal Instruc on and Library Building and Grounds Cleaning and Maintenance Management Construc on and Extrac on Installa on, Maintenance, and Repair Healthcare Prac
oners and Technical Healthcare Support
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 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
500
1,000
1,500
2,000
2,500
23
Economy Overview
Top Growing Occupa ons Occupa on Jobs Growth Educa onal Instruc on and Library Sales and Related Building and Grounds Cleaning and Maintenance Personal Care and Service Community and Social Service Construc on and Extrac on Legal Farming, Fishing, and Forestry 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
100
200
300
400
500
24
Economy Overview
Top Occupa on Loca on Quo ent Occupa on Loca on Quo ent Produc on Farming, Fishing, and Forestry Building and Grounds Cleaning and Maintenance Community and Social Service Sales and Related Transporta on and Material Moving Installa on, Maintenance, and Repair Personal Care and Service Educa onal Instruc on and Library Construc on and Extrac on Protec ve Service Healthcare Support Food Prepara on and Serving Related Office and Administra ve Support Healthcare Prac
oners and Technical Management
Arts, Design, Entertainment, Sports, and Media Business and Financial Opera ons Military-only Life, Physical, and Social Science Legal Architecture and Engineering Computer and Mathema cal 0.00
Emsi Q2 2022 Data Set | www.economicmodeling.com
1.00
2.00
25
Economy Overview
Top Occupa on Earnings Median Hourly Earnings Management Healthcare Prac
oners and Technical
Architecture and Engineering Computer and Mathema cal Life, Physical, and Social Science Business and Financial Opera ons Legal Community and Social Service Educa onal Instruc on and Library Installa on, Maintenance, and Repair 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 Farming, Fishing, and Forestry Building and Grounds Cleaning and Maintenance Sales and Related Healthcare Support Personal Care and Service Food Prepara on and Serving Related $0.00
Emsi Q2 2022 Data Set | www.economicmodeling.com
$10.00
$20.00
$30.00
26
Economy Overview
Top Posted Occupa ons Unique Average Monthly Pos ngs Healthcare Prac
oners and Technical Sales and Related
Transporta on and Material Moving Educa onal Instruc on and Library Management Office and Administra ve Support Produc on Protec ve Service Food Prepara on and Serving Related Healthcare Support Installa on, Maintenance, and Repair Building and Grounds Cleaning and Maintenance Arts, Design, Entertainment, Sports, and Media Business and Financial Opera ons Community and Social Service Computer and Mathema cal Life, Physical, and Social Science Architecture and Engineering Construc on and Extrac on Personal Care and Service 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
5
10
15
20
25
27
Economy Overview
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 0%
Emsi Q2 2022 Data Set | www.economicmodeling.com
10%
20%
30%
40%
28
Economy Overview
Educa onal Pipeline In 2020, there were 1,537 graduates in Wilkes County, NC. This pipeline has grown by 96% over the last 5 years. The highest share of these graduates come from Liberal Arts and Sciences/Liberal Studies, Automobile/Automo ve Mechanics Technology/Technician, and Animal/Livestock Husbandry and Produc on.
School
Total Graduates (2020)
Wilkes Community College
Cer ficate
Associate's
Graduate Trend (2016 2020)
1,537
Bachelor's
Emsi Q2 2022 Data Set | www.economicmodeling.com
Master's or Higher
29
Economy Overview
In-Demand Skills Top Specialized Skills
Na onal Average
Merchandising Nursing Selling Techniques Housekeeping Home Health Care Warehousing Emergency Response Accoun ng Audi ng Cash Register 0
Emsi Q2 2022 Data Set | www.economicmodeling.com
100
200
300
400
500
30