Rocky Mount, NC

Rocky Mount Metro Area industry wages have increased by 3.5% percent since 2001

2007-03-19T01:40:00.000-07:00

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Since 2001, industry wages increased in the Rocky Mount Metro Area by a total of 3.5%. This is less than the growth in industry wages for North Carolina and less than the growth in average industry wages for the United States.

About: These facts are part of the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW). Private Sector Employment Only.

Rocky Mount, NC Area Real Estate Market Report for January 2007

2007-02-15T16:35:00.000-08:00

The following report is provided as a public service by David C. Recker, Realtor, RE/MAX Point East, Rocky Mount, North Carolina. The following are indicators of the Greater Rocky Mount Area Real Estate Market.These statistics were gathered from data contained in the local MLS system.

Active residential listings totaled 966 properties. This is an increase of 44 properties, or 5%, from 922 in December. This housing increase is typical for this time of year as sellers prepare for the Spring market.

Newly listed properties totaled 274. This is an increase of 122 new listings, or 45%, from 152 last month.

Sold properties totaled 102. This is a decrease of 10, or 9%, from last months total of 112 residential properties sold.

Pending sales totaled 150. This is an increase of 48, or 42%, from last months total of 102 properties pending settlement.

The Greater Rocky Mount Area currently has a 9.4 month housing supply. This is up from a 8.2 month supply in December 2006.

What does all this mean? The local housing market is still saturated with available housing. The increases we see in inventory this month are substantial but typical for this time of year. These indicators show that we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allow buyers to obtain concessions from sellers that they would not receive in a balanced market.

If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.

If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.

Feel free to contact me with any questions or comments you may have. Also, please visit my website www.NCRealEstateWeb.com and my Blog NCRealEstateWebBlog.

Rocky Mount Five-Year Industry Employment Change

2007-02-11T14:15:00.000-08:00

The Rocky Mount Metro Area: Five-Year Percentage Growth in Employment

The Other schools and instruction industry has experienced the largest percentage growth, expanding by 106.9 percent from the 2nd quarter of 2001 to the 2nd quarter of 2006. This industry sector in Rocky Mount has grow faster than the industry job growth experienced in North Carolina, where the industry felt a gain of 42.2 percent. The Other schools and instruction industry in Rocky Mount outpaced the nation in terms of industry employment growth . During this period, the nation gained 32.5 percent of the employment in this industry.

Top 5 Industries
1. Other schools and instruction (106.9 percent gain)
2. Electronics and appliance stores (106.9 percent gain)
3. Offices of other health practitioners (43.7 percent gain)
4. Electronic markets and agents and brokers (38.0 percent gain)
5. Home health care services (33.4 percent gain)

The Rocky Mount Metro Area: Five-Year Percentage Decline in Employment

The Depository credit intermediation industry has lost the biggest percent of jobs, losing 63.5 percent of the jobs from 2001 to 2006. These have declined faster than the industry sector has gone through in the North Carolina, where the industry felt a gain of 35.4 percent. The losses in the Depository credit intermediation industry in Rocky Mount outpaced the United States in terms of percentage decline of industry employment. In this period, the United States gained 6 percent in terms of employees in the Depository credit intermediation industry.

Top 5 Industries
1. Depository credit intermediation (63.5 percent decline)
2. Nonresidential building construction (47.2 percent decline)
3. Jewelry, luggage, and leather goods stores (39.9 percent decline)
4. Drycleaning and laundry services (35.9 percent decline)
5. Offices of real estate agents and brokers (33 percent decline)

The total number of jobs has decreased by 6.7 percent since the 2nd Quarter of 2001. This is greater than percent in the State of North Carolina, which saw a gain of 1.9 percent from the 2nd Quarter of 2001. The losses in the area were greater than than the gain reported at the US level of 2.6 percent.

Total Five-Year Employment Growth in the Rocky Mount Metro Area

From the industries (4-digit NAICS) in the area, the Limited-service eating places industry has brought the most jobs with a total of 289 new jobs created in the period. The job growth in the Limited-service eating places industry makes up 19.0 percent of the total growth in Rocky Mount.

Top 5 Industries
1. Limited-service eating places (289 new jobs)
2. Home health care services (231 new jobs)
3. Electronics and appliance stores (170 new jobs)
4. Employment services (165 new jobs)
5. General freight trucking (121 new jobs)

From the 51 4-digit NAICS industries, 31 accounted an for increase in employment during the period and 20 industry sectors reported declines during the time period.

Total Five-Year Employment Decline in the Rocky Mount Metro Area

From of the area's 4-digit NAICS industries, the Depository credit intermediation industry witnessed the largest drop in employment, losing a total of 906 jobs. The declines in the Depository credit intermediation industry make up 31.4 percent of the jobs lost during the period in Rocky Mount, NC.

Top 5 Industries
1. Depository credit intermediation (906 jobs lost)
2. Nonresidential building construction (416 jobs lost)
3. Full-service restaurants (238 jobs lost)
4. Services to buildings and dwellings (165 jobs lost)
5. Drycleaning and laundry services (122 jobs lost)

In the Rocky Mount, NC metro area, the entire sum of jobs in all of the industries has decreased by 3,743 jobs from mid-2001 to mid-2006.

1-Year Industry Employment Change in Rocky Mount, NC

2007-01-24T17:19:00.000-08:00

Total 1-Year Employment Decline in the Rocky Mount Metro Area

From of the area's 4-digit NAICS industries, the Depository credit intermediation industry faced the greatest employment loss with a total loss of 1,034 jobs in that time period. The declines in the Depository credit intermediation industry make up 44.3 percent of the total employment decline in Rocky Mount, NC.

Top 5 Industries
1. Depository credit intermediation (1,034 jobs lost)
2. Nonresidential building construction (255 jobs lost)
3. Home health care services (231 jobs lost)
4. Nursing care facilities (169 jobs lost)
5. Full-service restaurants (127 jobs lost)

From the 69 industries with industry data reported by the BLS in each quarter, 36 described an expansion of jobs throughout the time period, while 33 industry sectors accounting for employment declines during that time period.

In the Rocky Mount, NC metro area, the aggregate employment for all industry sectors has increased by 209 jobs from mid-2005 to mid-2006.

Total 1-Year Employment Growth in the Rocky Mount Metro Area

From the industries (4-digit NAICS) in the area, the Building equipment contractors industry has accounted the most employment growth with a total of 140 new jobs created in the period. The job growth in the Building equipment contractors industry makes up 15.3 percent of the growth in Rocky Mount.

Top 5 Industries
1. Building equipment contractors (140 new jobs)
2. Limited-service eating places (120 new jobs)
3. Electronic markets and agents and brokers (95 new jobs)
4. Other schools and instruction (67 new jobs)
5. Vegetable and melon farming (67 new jobs)

The Rocky Mount Metro Area: 1-Year Percentage Growth in Employment

The Other schools and instruction industry has experienced the largest percentage growth, expanding by 301.5 percent from the 2005 (Q2) to the 2006 (Q2). This industry in Rocky Mount has added employment faster than the overall industry growth seen in the State of North Carolina, where this industry saw a gain of 14.3 percent. The Other schools and instruction industry in Rocky Mount outpaced the US in terms of percent growth of industry employment. During this period, the US gained 5.7 percent of the employment in this industry.

Top 5 Industries
1. Other schools and instruction (301.5 percent gain)
2. Other residential care facilities (63.2 percent gain)
3. Electronic markets and agents and brokers (45.8 percent gain)
4. Business support services (24.4 percent gain)
5. Activities related to real estate (23.0 percent gain)

The Rocky Mount Metro Area: 1-Year Percentage Decline in Employment

The Depository credit intermediation industry has seen the largest percentage drop in employment, losing 66.5 percent of the jobs from 2005 to 2006. These have declined faster than the industry sector has gone through in the North Carolina, where the industry sector experienced a gain of 3.4 percent. The losses in the Depository credit intermediation industry in Rocky Mount outpaced the United States industry losses overall. During this period, the United States gained 2 percent in terms of employment in the Depository credit intermediation industry.

Top 5 Industries
1. Depository credit intermediation (66.5 percent decline)
2. Nonresidential building construction (35.4 percent decline)
3. Motor vehicle and parts merchant wholesalers (33.5 percent decline)
4. Jewelry, luggage, and leather goods stores (30.4 percent decline)
5. Offices of real estate agents and brokers (26.3 percent decline)

Total industry employment has increased by 0.4 percent from 2005 (2nd Quarter). These figures are less than percent in the State of North Carolina, which saw a gain of 2.7 percent from the 2nd Quarter of 2005. The gains in the area were less than than the gain felt at the national level of 2 percent.

About: This report is part 1 of 6 in the eCanned.com Industry Analysis Series.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).

Income and Poverty in Rocky Mount, NC

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Compared to Metro Areas across the United States, the Rocky Mount metro area reported a relatively low household income of $40,710 (Adjusted to 2005 Dollars). This is 12.6 percent lower than the median in State of North Carolina of $45,845 and the median is 20.7 percent lower than the median in the US, which is $49,133.

The median household income has declined from the 2000 values (inflation adjusted). The median income has decreased to $33,870, posting a 16.8 percent decline. The Rocky Mount, NC MSA, when comparing total percent of decline, ranks 3 of 10 metro area in percent of decline for household income in North Carolina. Rocky Mount ranks 16 of 233 metro area in terms of the decline in household income across the nation.

The poverty rate in the Rocky Mount, NC Metro has increased by 5.9 percent since the amount published in 2000, moving from 15.8 percent to 21.7 percent.

When compared to other Metro Areas across the United States, the Rocky Mount metro area can be recognized as having a relatively high poverty rate amid the residents with a poverty rate of 15.8 percent with a family income under the 1999 poverty level. The Hispanic race/ethnicity population cohort, has the uppermost poverty rate with 33.8 percent of the population in 2000 living in poverty. Individuals aged 5 years are experiencing most percent people in poverty in Rocky Mount, with 24.1 percent of this demographic group living with incomes under poverty.

Hispanic Householders in Rocky Mount, NC , according to the 2000 census, had a median household income of $31,427, this median household income is 22.8 percent less than the reported median household income for all households in the area. According to the 2000 Census, the Asian headed households in the area have median household incomes of $50,997. This median is 25.3 percent greater than the reported median household income, in the area, for all households. The American Indian and Alaska Native households in Rocky Mount reported an income level of $44,606, this level was 9.6 percent greater than the median income level in this area. In Rocky Mount, NC White householders had a median income (2005 Dollars) of $48,975 as reported by the Decennial Census of 2000, which was 20.3 percent greater than the median income in 2000. Black or African American householders reported a median household income that was 24.4 percent less than the overall reported level in 2000, with a reported median of $30,790.

As the median household income witnessed a decline since 2000 in the Rocky Mount, NC metro area, the Race/Ethnicity category that felt the biggest decline in median income was the Hispanic category. This category saw a decline of 14.1 percent since the year 2000. The Hispanic Race/Ethnicity category has been least effected by the income level decline in Rocky Mount, encountering a 14.1 percent decline in median income, since the values reporting the 2000 Decennial Census.

Datasource: U.S. Bureau of the Census. 2000 Decennial Census. 2005 American Community Survey.

Higher Education in the Rocky Mount, NC Metro Area

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The American Community Survey reported that in the Rocky Mount, NC Metro Area, the most common level of education achieved in the area for the male population is the High School Diploma category, with 35.4 percent obtaining this level of education. The women in the Rocky Mount metro area have achieved a lower level of higher education (Bachelors Degree or Higher) than the male population-- 15.8 percent (Men) versus 14 percent (Women). A high proportion of the female population in the area has reached the High School Diploma category, with 33 percent of women in the area reaching this education level.

In the Rocky Mount, NC Metro Area according to the American Community Survey of 2005, 19.2 percent of the White Alone, 9 percent of Black or African American, . percent of the Asian alone and . percent of the Hispanic or Latino population, over the age 25, has achieved a Bachelors Degree or Higher.

From 2000 to 2005, the percent of male population that is highly educated has increased by 0.8 percent. By 2005, 15.8 percent of area's male population (+25) achieved a BA or Higher. During the same period, the percent of women (+25) that have earned a BA or higher has increased by a total of 0.8 percent. By 2005, a total of 14 percent of the female population having received at least a Bachelors Degree.

Rocky Mount, NC Metro Area may to understood as having a less-educated population, with 14.8 percent of the population (+25) having received a BA or higher, as reported in American Community Survey of 2005. The Rocky Mount MSA is reported having a lower percent of individuals with higher educations than the State of North Carolina's proportion of 25.2 percent and a lower percent than the national average of 27.2 percent.

From the year 2000, the Rocky Mount metro area has increased in the percent of the population that is over the age of 25 with a BA or Higher. This population cohort has grown by 1.0 percent to a total of 14.8 percent in 2005. The American Community Survey reports that the proportion of the 2005 population that is highly educated is less than the 2005 State of North Carolina percent of 25.2 and less than the US percent of 27.2.

Datasource: U.S. Bureau of the Census. 2000 Decennial Census. 2005 American Community Survey.

Demographic Profile for Rocky Mount, NC

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The Rocky Mount metro area had a population of 145,507 for the year 2005. The total population has increased, since its 2000 population of 143,044. This growth denotes an increase of 1.7 percent. Rocky Mount ranks 12 of 14 MSAs in terms of population growth in North Carolina and the metro area ranks 278 of 361 metro areas when analyzing total MSA population change across the nation.

Since the year 2000, a medium-high number of individuals have migrated into the Rocky Mount metro area, with 1,142 people migrating in internationally. The migration from outside the US into Rocky Mount makes up 0.7 percent of the total migration into the State of North Carolina. This percent of international migration is medium-high when compared to international migration per 2005 population.

When measuring the total land area, the Rocky Mount metro area covers a total land area of 1045 square miles. The MSA has a medium-low average population density of 139 persons per square mile. Other metro areas with similar densities in the US include: -- more densely populated -- Odessa (139 per sq. mile ), Ames (140 per sq. mile ), Jackson (140 per sq. mile ), -- less densely populated -- Hot Springs (138 per sq. mile ), Fond du Lac (137 per sq. mile ), Midland (135 per sq. mile ).

The Rocky Mount metropolitan statistical area (MSA) has a population that is comprised of 50.7 percent White, 43.9 percent African American, 0.5 percent Asian, and 4 percent Hispanic. The area population base can be described as having a very high level of diversity in terms of race and ethnicity, with 48.4 percent minorities. This is greater than the State of North Carolina percent of 29.6. Since 2000, Rocky Mount has increased the level of diversity when 46.4 percent of the total population were minorities.

The Census Bureau estimates in 2005 the median age in the Rocky Mount metro area to be 37.5 years old. The median age in Rocky Mount is greater than the median age in the State of North Carolina of 36.2. From 2000, the area has seen an increase in the median age, when it was 36.4 years of age. With 75.3 percent of the population in 2005 being comprised of children and youth younger than 18, Rocky Mount can be described as being made up of a medium-high proportion of youths. The 18 to 64 years old population group has a medium-high presence of the population, with 62.6 percent of the population within the age group. People 65 and older make up 13 percent of the population in the area. When compared to other metro areas throughout the United States, this represents a medium-low proportion of the area population base.

Datasource: Population Estimates Program, U.S. Bureau of the Census.

Housing Report for Rocky Mount

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Rocky Mount recorded median owner-occupied home value in the year 2005 of $93,300, accounted by the American Community Survey. This home value is less than the State of North Carolina 2005 median home value of $127,600 and less than median home value of $167,500 across the nation during that year.

In the State of North Carolina, Rocky Mount ranks 13 of the 14 metro areas in terms of percentage growth in new housing structures. The metropolitan statistical area (msa) ranks 226 of 361, compared to percent change of residential structures in other metropolitan areas throughout the United States.

The residential housing values in Rocky Mount, North Carolina have seen small increases since the Census values accounted for in the year 2000. The values have increased by $6,700, or 7.7 percent, since 2000 when their medians were reported to be $86,600.

Rocky Mount has a small, but present proportion of high-valued homes. For the year 2005, the American Community Survey reported that 0.7 percent of the areas residential property was valued over $500k.

In Rocky Mount, the U.S. Census Bureau, Population Division accounted for a total of 65,068 housing structures in 2005. The metro area has seen a medium level of growth in the number housing units, adding a sum of 2,714 residential units since 2001, or 4.4 percent.

It can be understood that there is a large amount of real estate that is affordable in Rocky Mount, North Carolina. In 2005, 68.5 percent of owner-occupied dwellings were valued under $125k.

Data Source: U.S. Census Bureau

Employment Report for Rocky Mount, North Carolina -- Annual 2005 Industry Summary

2006-11-05T02:29:00.000-08:00

Manufacturing since the year 2001 was faced with the largest loss in employment in the Rocky Mount Metro Area. The industry lost a total of 2,868 employees during the period, or 19 percent of jobs in the industry. The losses in this industry made up 53.4 percent of all employment losses in the Metro Area.

In Rocky Mount, Manufacturing, Retail Trade, and the Wholesale trade sectors, in terms of total employment, are the largest. Manufacturing provides the most jobs and contributes 23.5 percent of all the jobs in the Metropolitain Area. This makes up 12,214 jobs. The Retail Trade and Wholesale trade industries total 13.6 and 8.3 percent of the total jobs, respectively.

A well-paying sector in Rocky Mount is the finance and insurance sector with an annual pay of $63,160. Locally, since the year 2001, the industry annual average wages have declined by 23.1 percent or $19,015. The State of North Carolina has a similar employment climate in the finance and insurance sector, placing near the top of sectors by 2004 industry pay.

In Rocky Mount, Agriculture, forestry, fishing and hunting, Manufacturing and Wholesale trade industries have the highest United States location quotient (LQ). The Agriculture, forestry, fishing and hunting industry has an LQ of 2.86. In other words, the percent of total jobs in the Agriculture, forestry, fishing and hunting industry is 2.86 times greater than the national average, signifying that Rocky Mount produces more than its local requirement of products and/or services of Agriculture, forestry, fishing and hunting.

Manufacturing has a largest number of employees per establishment in Rocky Mount Metro Area. The industry averages 78 jobs per place of business. This is greater than the industry's average in the United States of 39 and greater than the State of North Carolina typical size of 53 for the Manufacturing industry.

Wholesale trade in the period of 2001 to 2005 had the largest increase in employment in Rocky Mount, changing a total of 44.6 percent. This is greater than the change in industry employment in the United States of 0.4 percent. The State of North Carolina experienced a sector employment shift of 6.1 percent, during the period of 2001 to 2005.

The Rocky Mount Metropolitain Area is ranked number 243 of 363 throughout the US in terms of total 2005 employment. The regions employment ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 226 of 363 Counties.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).