From 2022 to 2024, several trends have emerged and shifted within our region, impacting the local economy and workforce. The information below can help you, your local government or your business plan for current circumstances and for future needs.
Education Is Rising, But So Is the Need for Skilled Trades
Education is on the rise across our region, especially in Cabarrus and Iredell counties where more residents are earning degrees than ever before. This growth reflects a strong investment in education and a community adapting to change. At the same time, the demand for technical and skilled trades is increasing across the region as fewer jobs now require a bachelor’s degree. This is especially true in counties like Cabarrus and Gaston. Together, these trends point to a shift in the local workforce where hands-on skills and trade certifications are becoming just as valuable as traditional four-year degrees.
Why Are Young Workers Struggling to Find Jobs?
Labor force participation has remained steady across the region, with rural areas like Anson seeing slight increases as more people engage in the workforce. However, not all trends are positive. Youth unemployment is rising, particularly in places like Mecklenburg and Anson. Urban Mecklenburg experienced a modest increase, but rural Anson saw a more dramatic spike, pointing to growing challenges for younger workers trying to enter or stay in the job market. These trends suggest that while participation holds steady, younger residents in rural communities may need more support to find meaningful employment.
Is Rising Income Enough to Keep Up with Housing Costs?
Median household income is growing across the region, with counties like Lincoln and Union seeing some of the largest gains. These increases show positive momentum in economic mobility and financial stability. However, in urban areas like Mecklenburg, the cost of housing continues to rise faster than income. This growing gap presents a challenge. While more families are earning more, it may not be enough to keep pace with the cost of living, especially in high-demand urban markets.
Are We Rethinking What Jobs Really Require?
The demand for college degrees in the workforce is starting to decline, particularly in counties that blend urban and suburban communities. At the same time, new job opportunities are growing in skilled trades, logistics and manufacturing. These shifts suggest that traditional four-year degrees may no longer be the only path to a successful career. As industries evolve, there is a growing need to expand workforce training programs that prepare residents for high demand, hands-on roles that are shaping the future of our regional economy.
What’s Next for Our Region?
As the Centralina region continues to grow and change, staying ahead of workforce and economic trends is essential. To support long-term stability, we must expand access to technical and vocational training that matches the evolving job market. Addressing rising housing costs in urban areas is also key to keeping communities safe and affordable. In rural communities, we need to strengthen and develop workforce programs that support youth employment. By tracking these trends, we can shape smarter policies and initiatives that create a more resilient and prosperous future for all.
Want to Learn More?
The Centralina Economic Development District provides a Comprehensive Economic Development Strategy and Prosperity Profiles which offer a data-driven view of a community’s economic health, offering both regional and urban/rural perspectives. They track key factors like education, employment, income, housing and mobility to give policymakers, businesses and community leaders valuable insights for strategic decision making.
The latest 2022–2024 Prosperity Profile comparison highlights important shifts across urban, mixed urban and rural communities in the Centralina region. The data reveals both opportunities and challenges, helping us better understand how counties compare and where to focus efforts for long-term growth and development.
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