Brunswick County Economic Forecast
The Brunswick County Economy
William W. (Woody) Hall, Jr.
Senior Economist
Center for Business and Economics Services
Cameron School of Business
UNC Wilmington
hall@uncw.edu
u http://www.csb.uncw.edu/centers/cbesindex.stm
– Brunswick County Economic Climate 2007
Coastal Region
Brunswick, New Hanover & Pender Counties
2006 Economic Growth 9-10%
2007 Projected Economic Growth 8%
County Income/SAT Scores
|
|
Brunswick |
New Hanover |
Pender |
|||
|
|
|
State Rank |
|
State Rank |
|
State Rank |
|
1Q06 Wages |
$588 |
27 |
$664 |
11 |
$494 |
76 |
|
2000 Income |
$22,416 |
58 |
$28,599 |
12 |
$21,244 |
68 |
|
2004 Income |
$24,805 |
50 |
$30,466 |
12 |
$22,288 |
79 |
|
2004 HH Income |
$37,598 |
34 |
$40,405 |
19 |
$35,631 |
44 |
|
2003 % Poverty |
13.3 |
64 |
13.4 |
63 |
14.1 |
54 |
|
2006 SAT |
1,467 |
46 |
1,516 |
20 |
1,441 |
59 |
County Population
|
|
Brunswick |
New Hanover |
Pender |
|||
|
|
|
State Rank |
|
State Rank |
|
State Rank |
|
July 2006 |
92,686 |
28 |
185,222 |
9 |
47,833 |
52 |
|
2000 |
73,143 |
34 |
160,327 |
9 |
41,082 |
58 |
|
1990 |
50,985 |
50 |
120,284 |
11 |
28,855 |
62 |
|
% Change 1990-2000 |
30.3 |
5 |
25.0 |
9 |
29.8 |
6 |
|
% Change 2000-2006 |
26.7 |
5 |
15.5 |
17 |
16.4 |
15 |
Population Forecasts
Median Age
Selected Services
|
|
Brunswick |
New Hanover |
Pender |
|
2005 MDs |
81 |
591 |
17 |
|
2005 Pop/MD |
1,104 |
305 |
2,738 |
|
2005 Pop/Nurse |
210 |
70 |
304 |
|
2005 Pop/Dentist |
3,441 |
1,443 |
4,654 |
|
Child Care Facilities |
52 |
173 |
53 |
|
Child Care Capacity |
1,960 |
8,057 |
1,890 |
2004 Business Size
1Q06 Employment Distribution
1Q06 Payroll Distribution
1Q06 Payroll Distribution
1Q06 Average Weekly Wages
Unemployment Rates
Retail Sales Tax Collections
($M)
Employment Seasonal Indexes
Unemployment Seasonal Indexes
Retail Sales Tax Seasonal Indexes
New Vehicle Sales
Trucks/Cars
The North Carolina Economy
u Economic growth of less than 2% over 2007 due mainly to continued “restructuring” in manufacturing
– Continued reductions in manufacturing employment
u N. C. has lost 200,000 manufacturing jobs since 2000.
u In contrast, N. C. manufacturing output has increased.
The United States Economy
u Growth will slow to around 2% over 2007.
– Most of this slowdown will be due to housing “adjustments.”
– Consumer spending will grow less rapidly.
– In contrast, business investment and exports should show strong growth.
u The outlook for interest rates
– Many analysts believe that the Fed will raise the target for the federal funds rate.
u Currently at 5.25%
– Many Fed officials believe there is no need to raise the target as the economy is slowing down and it is likely that unemployment will rise.
