2021 Wilkes County Economy Overview

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

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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

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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%

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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%

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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

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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

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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

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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

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$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

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$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

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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

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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

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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