CHARLOTTE — Charlotte added tens of thousands of jobs last year, ranking second in the United States for total job creation only behind New York City.
The Queen City actually outperformed the Big Apple on a per-population basis, and experts told Channel 9’s Evan Donovan that it’s a testament to the balance here between earning good money and getting value for it.
Laura Ullrich, director of economic research at the job site Indeed, tracks these trends from her base in Charlotte. She noted that the city has uniquely benefited from people moving to the region from other parts of the country.
“Charlotte has been a place that has benefited from the influx of in-migration from all over the country and I think those normal numbers reflect that,” Ullrich said.
Specific job sectors in Charlotte are expanding rapidly, particularly in health care, engineering and construction. Ullrich described these gains as a natural result of the region’s population growth.
“Some of the health care fields, things like engineering, construction – which makes sense if you live in the Charlotte area – security and public safety," Ullrich said.
While some sectors are thriving, others show signs of weakness.
“But there are some soft spots as well. Tech has been a real soft spot. And actually, even if you look at the postings for banking and finance, they’re below pre-covid levels,” Ullrich said.
Ullrich attributed the pullback in white-collar hiring to a broader shift in how companies allocate their resources. She noted that many businesses are prioritizing technology over new personnel.
“I think much of that is because of the shift in company investment toward capital and toward AI and away from labor,” Ullrich said. “And so we’ve seen a real pullback in hiring rates, especially amongst white collar workers.”
The strength in the health care sector is expected to persist due to national demographic shifts. As the baby boomer generation continues to age and retire, the demand for medical care is likely to remain high. Health care remains one of the most consistent areas of growth in the local economy.
On a national scale, the Bureau of Labor Statistics reported that the United States added 130,000 jobs in January. However, federal jobs reports have come under increased scrutiny due to significant data revisions. The bureau initially estimated that the U.S. created 584,000 jobs last year but later revised that number down to 181,000, a reduction of 70%.
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