Employers
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Labor Market Trends: Employers |
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What is a Labor Market? Labor markets, or job markets, are local areas in which individuals seek employment and employers recruit and hire workers. These activities usually take place in a specific geographic region called a labor market area. Generally, the boundaries of labor market areas are based on the commuting patterns of workers. The major labor market areas in a given state are defined by the U.S. Department of Labor as Metropolitan Statistical Areas (MSAs). The following MSAs are defined in North Carolina:
Employers in North Carolina In the first quarter of 2006, there were more than 223,000 employers in North Carolina, ranging from small firms with one or two workers to large companies that employ thousands. About 74 percent of all firms in the state employ fewer than 10 workers. Nevertheless, a relatively large share of workers are employed by the larger firms in North Carolina. For example, firms employing 500 or more represent less than 0.2 percent of all employers in North Carolina, but actually employ about 14.9 percent of the state’s workforce. The figure below shows the percentage of employment by firms of different sizes. You can also view North Carolina's largest employers by different categories:
Figure 1
Data source: Reporting Units and Employment by Industry, LMI, ESC. NOTE: Prepared by the Labor Market Information Division, NC ESC. A similar treatment of "Trends" nationally, prepared by the US Bureau of Labor Statistics, can be viewed as part of their Occupational Outlook Handbook.
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