The Rural Economy

The North Carolina economy has gone through significant changes over the past several years. While some of these changes are a result of the recession that began in 2001, others are structural changes. These structural changes have led to a dramatic decline in many of the industries that have been important to the state's economy including textiles, apparel and furniture. While there have been significant increases in other sectors, especially in services, the increases haven't been enough to make up for the tremendous losses.

Source: NC Employment Security Commission

This period of economic change is creating significant challenges for the state and its citizens. As traditional industries in North Carolina disappear, many people are having a difficult time finding new jobs or transitioning to new careers in this changed economy. The state's unemployment rate has risen dramatically from one of the lowest rates in the country to one of the highest. High unemployment and job losses are affecting other parts of the economy as well; retail stores are closing, bankruptcies are up, and people are losing their homes.

Source: NC Employment Security Commission