Asheville Metro May 2020 Employment Figures

July 10, 2020

Employment figures for May 2020 show the Asheville metro (Buncombe, Henderson, Haywood, and Madison counties) has begun to gain back some of the jobs lost in April. According to a survey of businesses conducted by the North Carolina Department of Commerce and US Bureau of Labor Statistics the metro added 4,300 net new jobs from April to May (see chart below). This follows a loss of 36,000 jobs in the previous month.

 

Asheville Metro
2020 Month to Month Employment Change

Asheville Metro 2020 Month to Month Employment Change - JPS CPA - Asheville Metro May 2020 Employment Figures

Source: N.C. Department of Commerce

 

Compared to all fifteen metros in the state, Asheville’s April to May employment growth rate of 2.7 percent place it seventh in the state (see chart below). Only the Durham-Chapel Hill metro showed continual losses. The state and nation grew by 2.1 and 2.4 percent respectively over the same period.

 

North Carolina Metros
April to May 2020 Employment Growth Rates

North Carolina Metros April to May 2020 Employment Growth Rates - JPS CPA

Source: N.C. Department of Commerce

 

The job gains were led by the Leisure & Hospitality sector, which added 2,800 net new jobs in May, this follows a loss of 18,800 positions in April (see chart below). Only the Professional & Business Services and Government sectors experienced growing losses.

 

Asheville Metro
March to April and April to May 2020
Employment Change by Industry Sectors

Asheville Metro Employment Change By Sectors March to April and April to May 2020
Source: N.C. Department of Commerce

 

Despite the moderate job gains in May, unemployment rates in the Asheville metro remained stubbornly high at 16.1 percent, a touch below April’s rate of 16.2 percent (see chart below). The rate is above both the state and nation. Unemployment rates are derived from a survey of individuals.

 

2020 Unemployment Rates

2020 Unemployment Rates - JPS CPA - Asheville Metro May 2020 Employment Figures
Source: N.C. Department of Commerce

 

Asheville’s May unemployment rate is highest compared to all metros in the state (see chart below). This marks a striking reversal after having experienced fifty-eight consecutive months with the lowest unemployment rates in the state.

 

North Carolina Metros
May 2020 Unemployment Rates

North Carolina Metros May 2020 Unemployment Rates
Source: N.C. Department of Commerce

 

To read other JPS COVID-related articles, click here.

 

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