Macon County Economic Snapshot: 2009 & 2010

PRESS RELEASE from the North Carolina Justice Center:

North Carolina ECONOMIC SNAPSHOT: 2009 & 2010 by County

BTC releases county-by-county economic snapshots for North Carolina

Using data from 2009 and 2010, the NC Budget & Tax Center provides a quick-reference resource for journalists in counties throughout the state

WHO: NC Budget & Tax Center

WHAT: Economic snapshots of all North Carolina counties in PDF format

WHEN/WHERE: Available at www.ncjustice.org at 2 p.m., March 28, 2011

RALEIGH (March 28, 2011) – The economic picture of counties throughout North Carolina is clearer today with the release of county-by-county data from the NC Budget & Tax Center.

The “economic snapshot,” a document which provides intriguing economic information about most counties in North Carolina, is now available on the NC Justice Center's website at: http://www.ncjustice.org/?q=node/767

Only counties in North Carolina are included.

Staff of the Budget & Tax Center, including BTC Director Alexandra Forter Sirota, are available for media comment on the economic snapshots.

For more information, contact: Alexandra Forter Sirota, alexandra@ncjustice.org, (919) 861-1468; or (919) 801-0465; Jeff Shaw, Director of Communications, NC Justice Center, jeff@ncjustice.org, (919) 863-2402 (office) (503) 551.3615 (mobile).  

Below is the economic snapshot of Macon County that I've culled from the 201 page report...

ECONOMIC SNAPSHOT 2009 & 2010:

Macon County UNEMPLOYMENT 


Macon County’s unemployment rate was 11.0% in December 2009; the state rate was 11.1%. In December 2010, the county unemployment rate was 10.3%; the state rate was 9.7 %.1 15,332 workers were a part of Macon County’s labor force in December 2010. 1 Since the Third Quarter of 2010, Macon County lost 1,281 jobs on net, a 11% decline. 2


POVERTY 


17.8% of Macon County residents (7,579 people) lived in poverty in 2009; the state rate was 16.2%.3 28.7% of Macon County residents were low-income in 2009, meaning their incomes were less than twice the federal poverty level ($44,100 for a family of four in 2009).4


WAGES & INCOME 


In 2010, the Macon County’s average weekly wage of $567 equaled 74% of the statewide wage of $768. 2 Median household income in the county was $35,595, which equaled 81% of the statewide household income of $43,754. 3 The richest 5% of Macon County households had an average income that was 18.6 times greater than that of the poorest fifth of households and 2.9 times greater than that of the middle fifth of households. 4


HOUSING 


46% of renters were unable to afford the fair market rent for a 2 bedroom housing unit.5 There were 296 foreclosure filings in 2010 representing 1 in 58 housing units in Macon County. 6


HEALTH 


17.4 % of Macon County residents did not have health insurance in 2008-2009, compared to 15.9% of all North Carolinians.7 10.3% of children in Macon County did not have health insurance in 2008-2009. 7 5,560 were eligible for Medicaid in Macon County in December 2010, a 20.9% increase. 8


SUPPORTS FOR WORKING FAMILIES 


From December 2007 to August 2009, $18,678,689 have circulated in Macon County through unemployment insurance benefits.9 In 2009, the state EITC provided refunds of $162,983 to working families in Macon County. 10 In December 2009, 4,935 Macon County residents received assistance from the food and nutrition or food stamp program. In December 2010, the number increased by 30.4% to 6,434 and the share of residents receiving assistance reached 18.3%. 11


THE 2010 LIVING INCOME STANDARD 


A working family in Macon County with 1 adult and 2 children needs to earn, on average, a total of $38,664 annually to afford basic living expenses in the county. This total is 211.2% of the 2009 federal poverty level for a family of three ($18,310). 12


o The county’s living income standard for this family requires an hourly wage of $18.59, which is $11.34 more than the $7.25 per hour earned in a minimum wage job ($15,080 annually). 12 A working family in Macon County with 2 adults and 2 children needs to earn, on average, a total of $45,901 annually to afford basic living expenses in the county. This total is 208.2% of the 2008 federal poverty level for a family of four ($21,200). 12


o The county’s living income standard for this family requires them to earn a combined hourly wage of $22.07, which is $7.57 more than the $14.50 per hour earned through working two minimum wage jobs ($30,160 annually).12


Sources:
1 Local Area Unemployment Statistics (BLS);
2 Quarterly Census of Employment and Wages;
3 U.S. Census Bureau, Small Area Income and Poverty Estimates, 2009;
4 U.S. Census Bureau, American Community Survey, 2007-2009;
5 Out of Reach, 2010
6 N.C. Administration of the Courts;
7 N.C. Institute of Medicine, 2008-2009;
8 N.C. Division of Medical Assistance;
9 Employment Security Commission of N.C., 2007-2010;
10 N.C. Department of Revenue, 2009;
11 N.C. Division of Social Services;
12 N.C. Budget & Tax Center’s 2010 Living Income Standard report, forthcoming.




Source: North Carolina Justice Center 
Download PDF of entire report