ECONOMIC DEVELOPMENT

Labor Climate

Well-Educated and Growing
Cary's labor force has increased 162% from 1980 to 1993 and is among one of the most well educated in the state. Nearly 95% of Cary residents 25 or older possess at least a high school degree and almost half have completed at least four years of college. The highly educated labor pool and unemployment rates are consistently among the lowest in the state (between 1.4 and 2.6 in the 1990s) and indicate a strong business environment for both employees and businesses.
Occupations
Residents of Cary have concentrated in managerial and technical occupations with more than 43% employed in professional specialty jobs and executive, administrative, and managerial positions. An additional 39% of Cary residents were employed in sales, administrative and clerical positions, and technical and related support positions. Almost four-fifths of Cary residents worked inside Wake County in 1990, and the average commuting time to work was 18.8 minutes. Further, 80% of Cary residents traveled less than 30 minutes to get to work.
A "Right-toWork" State
North Carolina is one of 20 states with a "right-to-work" law. Closed shop and union shop agreements are not permitted. An employer may not require an employee to join a union, nor may an employer require an employee to refrain from joining a union. The membership rate in unions in North Carolina is among the lowest in the nation, at 4.8% of employed residents.
Workers Compensation
North Carolina workers compensation legislation and insurance rates are generally more fiscally responsible and cost employers less money than in other states, according to the National Council on Compensation Insurance. Workers compensation legislation in North Carolina includes the following provisions that could contribute to substantial labor cost savings for employers:
Self-insurance is permitted
Insurance rates lower than the standard industry rates are permitted for firms that qualify.

For additional information, contact the following agencies:

NC Industrial Commission

430 N. Salisbury St.

Raleigh, NC 27611

(919) 733-4820

NC Rate Bureau

1700 Hillsborough St.

Raleigh, NC 27605

(919) 783-9790