SECTION 3: PLANNING AREA PROFILE
3.8 EMPLOYMENT AND INDUSTRY Wake County is best known as being home of the capital of North Carolina, Raleigh, and is home to many government agencies and functions. Many state agencies are located in Wake County as are many federal agencies. Wake County is also one of three counties that comprise the Research Triangle metropolitan region, named for the Research Triangle Park (RTP) which encompasses the three major metropolitan areas of Chapel-Hill, Durham, and Raleigh. Each of these metropolitan areas is home to a major research university (UNC-Chapel Hill, Duke, and NC State University, respectively) and RTP draws on these universities for its workforce. The Research Triangle Park is a hub of high-tech and biotech research and is a defining feature of the economy in Wake County. As of 2024, it is reportedly home to over 375 companies and 60,000 employees. The early modern economy Wake County was built around agriculture and government, as the state capital of Raleigh was established in 1793. Since that time, much of the growth and economic well-being of the county has been linked to the county’s status as a hub of government. While the county’s position as home to the state capital remains important, in recent decades, the county’s economic focus has shifted closer towards the rapidly developing fields of information technology and healthcare. Specifically, the four target industries currently highlighted by Wake County Economic Development include life sciences, IT/technology, clean tech/smart grid, and advanced manufacturing 4 . 3.8.1 WAGES AND EMPLOYMENT As per the 2018-2022 American Community Survey 5-Year Estimates, the median household income for the Wake County was $96,734 which is over 46 percent higher than the state’s median household income ($66,186). However, approximately 8.2 percent of the population is reported as living below the poverty level. Moreover, approximately 9.6 percent of people under 18 years of age are living below the poverty level. Table 3.8 shows employment statistics for all participating jurisdictions. Table 3.9 shows occupation statistics for all participating jurisdictions. Table 3.8 – Employment Statistics for Wake County
Population in Labor Force
Percent Employed* (%)
Percent Unemployed* (%)
Percent Not in Labor Force* (%)
Unemployment Rate (%)
Jurisdiction
Wake County
628,298 35,845 96,589
66.9 70.6 67.7 65.5 65.1 70.7 72.5 71.7 66.6 65.2 66.8 71.9
2.9 3.0 2.4 2.3 4.0 2.6 4.5 2.7 3.2 2.5 3.0 0.3
30.1 26.3 29.9 31.9 30.8 26.4 23.0 25.4 30.2 32.3 29.9 27.6
4.2 4.1 3.4 3.4 5.8 3.5 5.9 3.6 4.5 3.7 4.3 0.4
Apex Cary
Fuquay-Varina
17,820 17,849 21,786 14,647
Garner
Holly Springs Knightdale
Morrisville
17,611
Raleigh
267,849
Rolesville
4,566 25,523
Wake Forest
Wendell
6,111
4 Wake County Economic Development. (2024). https://raleigh-wake.org/target-industries
Wake County, NC Multi-Jurisdictional Hazard Mitigation Plan
WSP June 2024 Page 49
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