The Asheville metro area has set another job record, according to data released Wednesday by North Carolina’s Department of Commerce.
August marked the 11th consecutive month with the highest level of nonfarm payroll employment ever for that month in Asheville, said James F. Smith, chief economist for Asheville-based Parsec Financial Inc., a wealth management advising company.
Buncombe, Haywood, Henderson and Madison counties — the federally designated Asheville Metro Statistical Area — attained a record 181,800 jobs in August, according to state commerce data.
Of that total, 28,500 jobs were in leisure and hospitality, or 15.7 percent, and 25,400, or 14 percent, were in retail trade. Those are the Asheville economy’s two largest sectors by people employed.
Figures are estimates and not seasonally adjusted, which means government officials have not accounted for hiring fluctuations that occur depending on the season.
“Having an 11-month trend of each month being better than ever before means that Asheville is growing and thus providing new opportunities for all qualified workers,” said Smith, who also has served as a senior economist at the Board of Governors of the Federal Reserve System and as a consultant to the U.S. Council of Economic Advisers.
“For people with a good work ethic and at least a high school degree, it means there are likely to be good options for them to find a job in whatever field they want,” he said.
But many Asheville-area residents lament the dominance by the retail and tourism sectors of the local economy. They say those industries’ relatively low pay make affording to live here challenging.
Average annual wages last year for retail trade jobs in the Asheville metro area were $24,758, according to U.S. Bureau of Labor Statistics data.
Average annual wages last year for leisure and hospitality jobs in the Asheville metro area were $17,602, according to U.S. Bureau of Labor Statistics data.
The federal government defines the leisure and hospitality sector as employment in arts, entertainment, recreation, accommodation and food services.
Of the complaints targeting Asheville’s economy, Smith said “everyone has to start some place” and “very few people stay in the same job for a lifetime these days.”
Smith added “Asheville is not perfect nor is any other place on Earth.” But, he said, the region does “offer plenty of opportunities to find satisfying employment in a most lovely environment” — not a bad value proposition and many people are getting that.”
August also marked the 61st-straight month of year-over-year job growth, said Tom Tveidt, an Asheville-based research economist.
A range of public policymakers and business analysts rely on figures compiled by Tveidt, owner of SYNEVA Economics LLC, a consulting firm that focuses on local and regional analysis.
“At just over five years, this is the longest streak of unbroken employment growth we experienced since the 1990s,” said Tveidt, who also is past chair of the Virginia-based Council for Community and Economic Research.
“The numbers are a clear testament to the economy’s stability and steady expansion,” he said.
Smith also pointed good news on the wage front, at least in Buncombe County.
“Buncombe ranked well below the national average for weekly wages in the fourth quarter of 2014 but 50th among all 3,144 counties in the U.S. with its 4.9 percent increase over the fourth quarter of 2014,” Smith said. “That news should attract more people here.”
Bureau of Labor Statistics data show Buncombe’s 2014 fourth-quarter weekly wages remained at $797. North Carolina’s was $890, and the country’s was $1,035.
Buncombe and Henderson counties ranked first and third, respectively, in August unemployment rates, according to Wednesday’s North Carolina Department of Commerce data.
As usual, the Asheville metro recorded the state’s lowest metro unemployment rate.
The Buncombe County unemployment rate was 4.6 percent, and Henderson’s was 4.8 percent. Henderson tied with Wake County for third-lowest in North Carolina. The metro figure was 4.8 percent. Statewide, unemployment was 6.1 percent. The U.S. unemployment rate was 5.1 percent.
All figures improved over August last year.
Commerce officials plan to release North Carolina September county and metro-area employment and unemployment data on Oct. 28, said spokesman Larry Parker.
Unemployment figures
Buncombe County
August: 4.6 percent
August 2014: 4.9 percent
Haywood County
August: 5.3 percent
August 2014: 5.7 percent
Henderson County
August: 5 percent
August 2014: 5.1 percent
Madison County
August: 5.9 percent
August 2014: 6.2 percent
Transylvania
August: 5.6
August 2014: 5.9 percent
Asheville metro area
August: 4.8 percent
August 2014: 5.1 percent
North Carolina
August: 6.1 percent
August 2014: 6.5 percent
United States
August: 5.1 percent
August 2014: 6.1 percent
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