Charlotte GDP Projected to Grow Further by 5.1% by the End of 2021

Charlotte’s GDP is projected to grow by an additional 5.1% by the end of this year, according to a report from the Charlotte Observer. This can be attributed to several factors, but the most notable reason would be the increase in job opportunities in different industries such as transportation, manufacturing, health care, finance, and technology. This could be attributed to the investment of new companies such as USAA, E & J Gallow Winery, Masonite International Corp. More notable companies have also decided to invest and increase job opportunities in the area like the opening of Amazon’s fulfillment and delivery centers, and the expansion of operations from companies like Apple, Blum, Credit Karma, and Polkemi AB.

4,900 jobs were created in Charlotte at the end of the second quarter this year, with June 2021 showing to have added the most jobs since October 2020, according to the data collected by the Charlotte Region Business Alliance. North Carolina as a state is expected to have steady growth until the end of this year moving into 2022. John Connaughton, director of the Barings/UNC Charlotte Economic Forecast, said that “2021 represents the first full year of an economic comeback.”

The end of June 2021 saw more than 12,00 jobs available under the manufacturing sector in Charlotte according to EMSI. The top 5 in-demand jobs for this sectors are Marketing Managers (needing over 600 employees), First-Line Supervisors of Production and Operations Workers (over 500 employees needed), Industrial engineers (a little over 500), General Maintenance and Repair Workers for Appliances and Equipment (almost 400), and Sales Managers (more than 300). The sector has an average hourly rate of $15.70, which is based on factors like education, experience, and certifications.

This sector brought in 12,288 unique job postings by the end of June 2021. The sector needs more than 350 workers as Light Truck Drivers, more than 300 Passenger Drivers and Laborers and Freight Stock and Material Mover, a little over 200 jobs for Automotive repairs, and more than 150 workers for First-Line Supervisors of Transportation and Material Moving Workers. Truck drivers earn an average of $61,000 per year as per Zippia.com, while a transportation manager typically earns $94,682 according to Salary.com.

The demand for healthcare professionals has increased, with a shift of emphasis from in-patient care to out-patient-oriented care. Burnout in this sector has resulted in higher demand and reduced supply. Additionally, people have also resumed visiting specialists and doctors for checkups. There are currently more than 13,000 unique job postings in this sector, with a need for more than 2,500 Registered Nurses and about 1,500 Home and Heath Personal Care Aids and Nursing Assistants. The average hourly rate for nurses in Charlotte rounds out to around $30/hr. That tops off at about $43/hr.

Other sectors like Finance and technology also require manpower, combining for unique job postings of over 22,000 for this year’s second quarter. With all the jobs that need to be filled, it’s a great idea to jump on the available opportunities and take advantage of the projected growth of Charlotte’s economy.