Raleigh-Cary, NC

Raleigh-Cary Metro Area industry wages have increased by 12.6% percent since 2001

2007-03-19T01:37:00.001-07:00

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From the second quarter of 2001 to the second quarter of 2006, industry wages have increased in the Raleigh-Cary Metro Area by a total of 12.6%. This is less than the growth in industry wages for North Carolina and less than the growth in average industry wages for the United States.

About: These facts are part of the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW). Private Sector Employment Only.

Raleigh-Cary Metro Area Industry Wages Exceed North Carolina, but Wages Lag Behind the United States Industry Wages

2007-02-27T22:43:00.001-08:00

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Wages in all industries in Raleigh-Cary, NC can be described as relatively high when analyzed with other Metro Areas in the United States. The overall wages are 9.6 percent higher than the state, which accounted an average of $35,650. The industry pay was less than the industry average in the US of $40,259.

About: These facts are part of the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW). Private Sector Employment Only.

Raleigh-Cary Five-Year Industry Employment Change

2007-02-11T14:12:00.001-08:00

Total Five-Year Employment Decline in the Raleigh-Cary Metro Area

From of the area's 4-digit NAICS industries, the Scheduled air transportation industry witnessed the largest drop in employment, losing a total of 2,572 jobs. The declines in the Scheduled air transportation industry make up 35.1 percent of the total employment decline in Raleigh-Cary, NC.

Top 5 Industries
1. Scheduled air transportation (2,572 jobs lost)
2. Accounting and bookkeeping services (874 jobs lost)
3. Electronics and appliance stores (726 jobs lost)
4. Insurance carriers (692 jobs lost)
5. Nonresidential building construction (519 jobs lost)

In the Raleigh-Cary, NC metro area, the total number of jobs throughout all industries has increased by 28,805 total jobs from 2001 to 2006.

Of the 68 4-digit NAICS industries, 23 reported job growth in the duration of the last five years and 45 industry sectors reported declines during the time period.

Total Five-Year Employment Growth in the Raleigh-Cary Metro Area

Out of the 4-digit NAICS industries, the Limited-service eating places industry has added the most employment with 4,088 employees finding new jobs in the industry. The employment growth in the Limited-service eating places industry makes up 16.3 percent of the total number of new jobs in Raleigh-Cary.

Top 5 Industries
1. Limited-service eating places (4,088 new jobs)
2. Offices of physicians (1,435 new jobs)
3. Architectural and engineering services (1,306 new jobs)
4. Building equipment contractors (1,301 new jobs)
5. Other specialty trade contractors (1,135 new jobs)

The Raleigh-Cary Metro Area: Five-Year Percentage Decline in Employment

The Performing arts companies industry has lost the largest amount of employment in terms of percentage, losing 72.7 percent of the jobs from the 2nd quarter of 2001 to 2nd quarter of 2006. The losses of the area have declined faster than the industry sector has gone through in the North Carolina, where the industry reported a loss of 64.7 percent. The losses in the Performing arts companies industry in Raleigh-Cary outpaced the losses of nation as a whole in the industry. In this time period, the nation lost 10.2 percent in terms of employees in the Performing arts companies industry.

Top 5 Industries
1. Performing arts companies (72.7 percent decline)
2. Magnetic media manufacturing and reproducing (64.5 percent decline)
3. Scheduled air transportation (57.4 percent decline)
4. Other information services (33.6 percent decline)
5. Sound recording industries (31.1 percent decline)

The Raleigh-Cary Metro Area: Five-Year Percentage Growth in Employment

The Facilities support services industry has experienced the largest percentage growth, expanding by 337.9 percent from the 2001 (Q2) to the 2006 (Q2). This industry in Raleigh-Cary has grow slower than the industry has grown in the State of North Carolina, where this industry saw a gain of 380.2 percent. The Facilities support services industry in Raleigh-Cary outpaced the US in terms of percent growth of industry employment. During this period, the US gained 25.2 percent of the employment in this industry.

Top 5 Industries
1. Facilities support services (337.9 percent gain)
2. Religious organizations (96.7 percent gain)
3. Elementary and secondary schools (72.7 percent gain)
4. Activities related to real estate (65.4 percent gain)
5. Motor vehicle and parts merchant wholesalers (63.3 percent gain)

Total industry employment has increased by 8 percent from 2001 (2nd Quarter). These figures are greater than percent in North Carolina, experiencing a gain of 1.9 percent from 2001 (2nd Quarter). The gains the area experienced were greater than than the gain experienced overall in the US of 2.6 percent.

Raleigh-Cary One-Year Industry Employment Change

2007-01-24T17:15:00.000-08:00

The Raleigh-Cary Metro Area: One-Year Percentage Growth in Employment

The Motor vehicle body and trailer manufacturing industry has seen the largest percentage job growth, expanding by 120.4 percent from the 2005 (Q2) to the 2006 (Q2). This industry in Raleigh-Cary has added employment faster than the industry job growth experienced in North Carolina, where the industry felt a gain of 1.3 percent. The Motor vehicle body and trailer manufacturing industry in Raleigh-Cary outpaced the nation in terms of industry employment growth . During this period, the nation gained 4.9 percent of the employment in this industry.

Top 5 Industries
1. Motor vehicle body and trailer manufacturing (120.4 percent gain)
2. Religious organizations (112.0 percent gain)
3. Other ground passenger transportation (97.2 percent gain)
4. Unclassified (39.9 percent gain)
5. Cattle ranching and farming (36.4 percent gain)

The total number of jobs has increased by 5.4 percent from 2005 (2nd Quarter). These figures are greater than growth in North Carolina, which went through a gain of 2.7 percent since the 2nd Quarter of 2005. The gains were greater than than the gain experienced overall in the US of 2 percent.

The Raleigh-Cary Metro Area: One-Year Percentage Decline in Employment

The Sound recording industries industry has lost the biggest percent of jobs, losing 69.2 percent from 2005 (Q2) to 2006 (Q2). The losses of the area have declined faster than the industry has seen in the North Carolina, where the industry felt a loss of 11.3 percent. The losses in the Sound recording industries industry in Raleigh-Cary outpaced the US in terms of percent of decline of industry employment. The US lost 1.3 in percent of workers in the Sound recording industries industry.

Top 5 Industries
1. Sound recording industries (69.2 percent decline)
2. Wireless telecommunications carriers (21.4 percent decline)
3. Paper and paper product merchant wholesalers (21.2 percent decline)
4. Semiconductor and electronic component mfg. (19.4 percent decline)
5. Motor vehicle manufacturing (16.4 percent decline)

Total One-Year Employment Decline in the Raleigh-Cary Metro Area

The Semiconductor and electronic component mfg. industry witnessed the largest drop in employment, losing a total of 288 jobs. The declines in the Semiconductor and electronic component mfg. industry make up 18.1 percent of the employment lost during the period in Raleigh-Cary, NC.

Top 5 Industries
1. Semiconductor and electronic component mfg. (288 jobs lost)
2. Wireless telecommunications carriers (286 jobs lost)
3. Special food services (160 jobs lost)
4. Highway, street, and bridge construction (126 jobs lost)
5. Consumer goods rental (125 jobs lost)

In the Raleigh-Cary, NC metro area, the entire sum of jobs in all of the industries has increased by 20,059 jobs from mid-2005 to mid-2006.

Given the 102 industry sectors (4-digit NAICS) with employment figures reported by the BLS in each quarter, 25 showed an escalation in the number employed, while 76 industries reported employment loss in the period.

Total One-Year Employment Growth in the Raleigh-Cary Metro Area

From the industries (4-digit NAICS) in the area, the Limited-service eating places industry has accounted the most employment growth with a total of 1,017 new jobs created in the period. The job growth in the Limited-service eating places industry makes up 6.8 percent of the growth in Raleigh-Cary.

Top 5 Industries
1. Limited-service eating places (1,017 new jobs)
2. Building equipment contractors (969 new jobs)
3. Services to buildings and dwellings (948 new jobs)
4. Employment services (703 new jobs)
5. Architectural and engineering services (697 new jobs)

About: This report is part 1 of 6 in the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW). Private Sector Employment Only.

Income and Poverty in Raleigh-Cary, NC

2007-01-11T17:51:00.000-08:00

When put side-by-side with other Metros throughout the United States, the Raleigh-Cary metro area can be understood to have a poverty rate amongst the population, with a poverty rate of 8.2 percent of the population with family incomes below the 1999 poverty level. The Black or African American race/ethnicity population category, holds the highest rate of poverty with 16 percent of the people in 2000 living in poverty. The population that is aged Under 5 years are witness to the most percent living in poverty in Raleigh-Cary, accounting 17.4 percent of this age cohort living in poverty.

The median household income has increased sharply from the inflation-adjusted 2000 income levels. The income level has increased to $53,216, which amounts to a 25 percent growth. The Raleigh-Cary, NC MSA, in terms of percentage of growth, ranks 3 of 17 metro area in percent of growth for household income in North Carolina. Raleigh-Cary ranks 115 of 233 metro area when comparing total percent of growth in household income across the nation.

As the median household income witnessed a growth during the period of 2000 to 2005 in the Raleigh-Cary, NC metro area, the Race/Ethnicity group that experienced the largest growth in median income was the category. This group felt an of . percent from 2000 to 2005. The Race/Ethnicity category has been least effected by the income level growth in Raleigh-Cary, seeing a . percent in household income level, since the year 2005.

The poverty rate in the Raleigh-Cary, NC Metro has increased by 2.6 percent from the levels reported in the Decennial Census of 2000, moving from 8.2 percent to 10.8 percent.

Hispanic households in Raleigh-Cary, NC recorded a median income of $40,015, this median is 6 percent less than the reported median household income for all households in the area. The American Indian and Alaska Native households in Raleigh-Cary reported an income level of $28,913, this level was 32.1 percent less than the median level for total households in the area. In Raleigh-Cary, NC White householders had a median income (2005 Dollars) of $42,948 according to the Decennial Census of 2000, which was 0.9 percent greater than the median in 2000. The Asian headed households reported median household incomes of $71,370. This median income level is 67.7 percent greater than the reported median for all households in the area. Black or African American headed households had median income levels that were 14.6 percent less than the overall reported level in 2000, with a reported median of $36,365.

When analyzed against other Metropolitan Statistical Areas in the US, the Raleigh-Cary metro area accounted a medium-low median income for all households of $42,563 (2005 Dollars). This median is 7.7 percent lower than the median in North Carolina of $45,845 and the median household income is 15.4 percent lower than the median in the US, which is $49,133.

Datasource: U.S. Bureau of the Census. 2000 Decennial Census. 2005 American Community Survey.

Higher Education in the Raleigh-Cary, NC Metro Area

2006-12-19T21:57:00.000-08:00

From the year 2000, the Raleigh-Cary metro area has increased in the total percent of the over 25 population having a Bachelors Degree or Higher. This population group has grown by 24.0 percent to a total of 41.6 percent in 2005, according to the American Community Survey. The 2005 proportion of highly educated population is greater than the State of North Carolina percent of 25.2 and greater than the United States percent of 27.2.

In the Raleigh-Cary, NC Metro Area as reported in the American Community Survey of the year 2005, 45.2 percent of the White Alone, 26.8 percent of Black or African American, 65 percent of the Asian alone and 17.6 percent of the Hispanic or Latino population, over the age 25, has achieved at least a Bachelors Degree.

Between 2000 and 2005, the percent of the male population that can be understood as highly educated has increased by 23.0 percent. As reported in 2005, 43 percent of area's male population (+25) achieved a BA or Higher. During the same period, the percent of women (+25) that have earned a BA or higher has increased by a total of 25.0 percent. By 2005, a total of 40.4 percent of the women in the population had received a Bachelors Degree or Higher.

Raleigh-Cary, NC Metro Area can be considered to have a very highly-educated 2005 population, with 41.6 percent of the population (+25) having received at least a Bachelors Degree, as reported in the 2005 American Community Survey. The Raleigh-Cary MSA has a higher percent of individuals with higher educations than the State of North Carolina's proportion of 25.2 percent and a higher percent than United States proportion of 27.2 percent.

Reported by the 2005 American Community Survey in the Raleigh-Cary, NC Metro Area, many men in the area have reached the Bachelors Degree or Higher category, with 43 percent achieving this level. The female population in the Raleigh-Cary metro area have achieved a lower level of higher education (Bachelors or Higher) than men -- 43 percent (Men) versus 40.4 percent (Women). A high proportion of the female population in the area has reached the Bachelors Degree or Higher category, with 40.4 percent of the areas female population attaining this level of education.

Datasource: U.S. Bureau of the Census. 2005 American Community Survey.

Demographic Profile for Raleigh-Cary, NC

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The Raleigh-Cary metropolitan statistical area (MSA) has a population that is made of 67.3 percent White, 20 percent African American, 3.5 percent Asian, and 7.8 percent Hispanic. This area can be considered to have a high level of diversity, with 31.3 percent minorities. This is greater than the State of North Carolina percent of 29.6. Since 2000, Raleigh-Cary has increased in diversity when 28.3 percent of the total population were minorities.

The Raleigh-Cary metro area had a population of 949,681 for the year 2005. The total population has increased very sharply, since the population in 2000 of 804,139. This growth shows an increase of 18.1 percent. Raleigh-Cary ranks 2 of 14 MSAs when calculating total change in population for North Carolina and the metro area ranks 22 of 361 metro areas when analyzing total MSA population change across the nation.

Estimated since the year 2000, a very high number of individuals have migrated into the Raleigh-Cary metro area, with 27,150 people migrating in from outside the country. The immigration into Raleigh-Cary totals 17.2 percent of the total migration into the State of North Carolina. This level of international migration can be considered very high when analyzed against immigration per population in 2005.

When calculating the total land area, the Raleigh-Cary metro area extends a total area of 2116 square miles. The MSA has a medium-high density of 449 persons per square mile. Similar metro areas in the US, in terms of density, include: -- more densely populated -- Holland-Grand Haven (452 per sq. mile ), Pittsburgh (452 per sq. mile ), York-Hanover (452 per sq. mile ), -- less densely populated -- Deltona-Daytona Beach-Ormond Beach (444 per sq. mile ), McAllen-Edinburg-Pharr (432 per sq. mile ), Oxnard-Thousand Oaks-Ventura (431 per sq. mile ).

Datasource: Population Estimates Program, U.S. Bureau of the Census.

Housing Report for Raleigh-Cary

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In the State of North Carolina, Raleigh-Cary ranks 2 of the 14 metro areas by percentage growth in residential real estate. The metro area is positioned 20 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

Raleigh-Cary can be understood as having a medium proportion of high-valued homes. For the year 2005, the American Community Survey accounted that 4.5 percent of the houses were valued over a half a million dollars.

In Raleigh-Cary, there were a total of 395,806 homes in the year 2005. This MSA has gone through a medium-high growth level in the number housing units, adding in all 48,980 housing units since the year 2001, or 14.1 percent.

It can be understood that there is a fair amount of affordable housing in Raleigh-Cary, North Carolina. In 2005, 28.1 percent of owner-occupied dwellings were valued under $125k.

Raleigh-Cary had a median home value in the year 2005 of $170,000, according to the American Community Survey. This is greater than the State of North Carolina 2005 median owner-occupied dwelling value of $127,600 and greater than median home value of $167,500 across the United States during the same year.

Data Source: U.S. Census Bureau

Employment Report for Raleigh, North Carolina -- Annual 2005 Industry Summary

2006-11-05T02:17:00.000-08:00

In Raleigh, Retail Trade, Accommodation and food services, and the Health care and social assistance industries have the largest percent of jobs of all industries. The Retail Trade provides the most jobs and contributes 14.8 percent of total employment in the Metro Area, making up 54,908 jobs. The Accommodation and food services and Health care and social assistance industries make up 9.8 and 9.6 percent of industry employment.

A high-wage industry in Raleigh is the information industry with an average annual wage of $65,681. Locally, since the year 2001, the industry annual average wages have grown by 13.7 percent or $7,925. The State of North Carolina shows a similar economic condition in the information sector, placing near the top of industries in term of the average annual pay of 2004.

In Raleigh, Information, Construction and Administrative and waste services industries have the highest United States location quotient (LQ). The Information industry has an LQ of 1.68. The level of employment in the Information industry is 1.68 times greater than the national average, signifying that Raleigh may specialize, or be an exporter of Information.

Utilities is the industry with the largest establishments in Raleigh MSA, with the industry averaging 87 employees per business. This is greater than the industry's national average of 34 and greater than the North Carolina typical size of 37 for the Utilities industry.

Real estate and rental and leasing has had the highest level of job growth from 2001-2005 in Raleigh, moving a total of 12.6 percent. This is greater than the industry employment change in the United States of 4.3 percent. The State of North Carolina faced a industry job change of 5.1 percent, in the recent period of 2001-2005.

Manufacturing saw the largest loss of employment between the years 2001-2005 in the Raleigh MSA. The sector faced a loss of 5,733 total jobs during the period, accounting for 15.6 percent of employment in the sector. These losses made up 81.5 percent of the total loss in employment during the period.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).