Leading, Slipping, Gaining, Lagging Analysis:
Assessing Finance and Insurance Earnings Growth
Across North Carolina Counties
Real* Finance and Insurance
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Finance and Insurance
Earnings Growth
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of real finance and insurance earnings growth across all of North Carolina's 100 counties. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this North Carolina Regional Economic Analysis Project report, we adopt this approach to gauge and compare the real finance and insurance earnings growth of North Carolina's 100 counties over the latest available year (2022) against the backdrop of their growth over the long term period (2010-2022). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Real* Finance and Insurance
Earnings Growth
County vs Statewide Average: 2010-2022 and 2022
Real* Finance and Insurance
Earnings Growth
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
This figure displays the 100 counties of North Carolina as dots on a scattergram, with the vertical axis representing the average annual real finance and insurance earnings growth rate over the long-term period (2010-2022), and the horizontal axis representing the real finance and insurance earnings growth rate for the near-term (2022).
This figure sets apart those counties whose long-term real finance and insurance earnings growth exceeded the statewide average of 2.87%, by portraying them in the top two quadrants demarcated at 2.87% on the vertical axis. County whose long-term average annual real finance and insurance earnings growth rate trailed the statewide average (2.87%) are distributed in the bottom two quadrants. In all, 31 counties surpassed the statewide average over 2010-2022, while 61 counties fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 46 counties whose most recent (2022) real finance and insurance earnings growth rate exceeded the statewide average (8.65%). The two quadrants on the left feature those 46 counties whose real finance and insurance earnings growth over 2022 trailed the statewide average.
Accordingly, each quadrant portrays the performance of all 100 counties corresponding with their long-term (2010-2022) and near-term (2022) performance relative to their respective statewide averages of 2.87% over 2010-2022 and 8.65% over 2022:
Leading counties () (top-right quadrant)...are counties whose average annual real finance and insurance earnings growth rate surpassed the statewide average both long-term (2.87%) and near-term (8.65%).
Slipping counties () (top-left quadrant)...are counties whose long-term average annual real finance and insurance earnings growth rate exceeded the statewide average (2.87%), but whose near-term growth has "slipped" by falling below the North Carolina average (8.65%).
Gaining counties () (bottom-right quadrant)...are counties whose long-term average annual real finance and insurance earnings growth rate fell below the statewide average (2.87%), but whose near-term growth has "gained" by registering above the average (8.65%) statewide.
Lagging counties () (bottom-left quadrant)...are counties whose average annual real finance and insurance earnings growth rate fell under the statewide average both long-term (2.87%) and near-term (8.65%).
   
 
Summary of North Carolina's 100 County Totals
 
Short Term Average
 
 
Below
(8.65%)
Above
(8.65%)
 
Long
Term
Average
Above
(2.87%)
12
19
31
Below
(2.87%)
34
27
61
 
46
46
92
 
   
Leading Counties
2022 vs. 2010-2022 Averages
Leading Counties
white dot
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the North Carolina counties classified as Leading. These counties surpassed North Carolina's average annual real finance and insurance earnings growth both long-term (2010-2022 = 2.87%) as well as near-term (2022 = 8.65%). Each is identified by its corresponding ranking based on it's average annual real finance and insurance earnings growth rate over 2010-2022.
Of North Carolina's 100 counties, 19 (19%) are classified within the Leading () category. Those counties ranked by their long-term average include:
Slipping Counties
2022 vs. 2010-2022 Averages
Slipping Counties
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
This figure depicts the distribution of the 12 North Carolina counties classified as Slipping (top-left quadrant), in that their long-term average annual real finance and insurance earnings growth rate outpaced the average statewide (2010-2022 = 2.87%), while they trailed the statewide average near-term (2022 = 8.65%). Again, each county is identified by it's corresponding ranking based on its average annual real finance and insurance earnings growth rate over 2010-2022.
Only 12 (12%) of North Carolina's 100 counties are classified as Slipping (). Those counties ranked by their long-term average include:
Gaining Counties
2022 vs. 2010-2022 Averages
Gaining Counties
white dot
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
This figure shows the distribution of the 27 North Carolina counties classified as Gaining (bottom-right quadrant), in that their long-term average annual real finance and insurance earnings growth rate posted below the average statewide (2010-2022 = 2.87%), while they outpaced North Carolina's average near-term (2022 = 8.65%). Again, each county is identified by its corresponding ranking based on its average annual real finance and insurance earnings growth rate over 2010-2022.
Of North Carolina's 100 counties, 27% (27) are featured as Gaining (). Those counties ranked by their long-term average include:
Lagging Counties
2022 vs. 2010-2022 Averages
Lagging Counties
white dot
North Carolina:
2010-2022 = 2.87%
2022 = 8.65%
This figure depicts the distributions of the 34 North Carolina counties classified as Lagging (bottom-left quadrant). These counties trailed the statewide average annual real finance and insurance earnings growth both long-term (2010-2022 = 2.87%) as well as near-term (2022 = 8.65%). Again, each county is identified by its corresponding ranking based on it's average annual real finance and insurance earnings growth rate over 2010-2022.
34% of North Carolina's counties, 34 of 100, are characterized here as Lagging (). Those counties ranked by their long-term average include:
   
 
North Carolina
Real* Finance and Insurance Earnings Growth
County vs. Statewide Average
 
2010-2022
 
2022
 
 
Leading Counties
 
21
3.97
 
24
14.54
367,225
 
11
6.08
 
10
20.53
140,886
 
23
3.50
 
25
14.07
38,323
 
14
5.37
 
23
14.66
11,612
 
30
2.95
 
35
12.46
1,660,565
 
7
6.93
 
13
19.58
26,391
 
27
3.03
 
12
19.91
44,113
 
1
19.19
 
33
12.72
6,425
 
28
3.03
 
6
31.99
19,281
 
9
6.31
 
2
84.39
63,157
 
3
11.59
 
5
33.82
119,465
 
29
2.97
 
40
10.48
17,665,522
 
8
6.36
 
16
18.33
12,854
 
26
3.11
 
44
9.60
93,232
 
5
9.59
 
1
123.60
32,795
 
2
11.68
 
4
40.86
263,009
 
6
8.81
 
27
13.79
4,899,956
 
24
3.44
 
26
14.04
117,774
 
31
2.95
 
9
23.34
6,209
Slipping Counties
 
18
4.91
 
54
6.90
226,319
 
25
3.12
 
79
1.05
44,037
 
10
6.10
 
97
-14.55
1,835,849
 
15
5.35
 
68
4.46
195,410
 
17
4.94
 
51
7.42
102,268
 
20
4.19
 
50
7.60
21,849
 
19
4.54
 
57
6.38
13,940
 
22
3.84
 
96
-11.69
14,501
 
13
5.98
 
58
6.27
580,040
 
12
6.05
 
67
4.79
333,222
 
16
5.27
 
72
4.20
31,120
 
4
9.84
 
93
-7.27
220,909
Gaining Counties
 
45
1.84
 
47
8.82
15,266
 
87
-2.24
 
31
13.07
6,264
 
61
0.49
 
45
9.12
7,538
 
57
0.87
 
41
10.05
34,163
 
44
1.92
 
36
12.00
159,728
 
51
1.38
 
8
24.44
42,793
 
32
2.59
 
3
44.18
17,857
 
54
1.04
 
46
8.99
83,135
 
48
1.49
 
21
15.98
69,400
 
75
-0.69
 
38
10.72
17,192
 
39
2.14
 
20
16.04
125,548
 
72
-0.53
 
15
19.39
4,914
 
33
2.54
 
29
13.37
56,932
 
40
2.14
 
28
13.41
28,597
 
88
-2.26
 
19
16.07
3,474
 
80
-1.36
 
7
31.19
3,588
 
60
0.68
 
30
13.27
74,064
 
58
0.70
 
34
12.61
58,626
 
65
0.02
 
14
19.45
16,452
 
76
-0.71
 
43
9.72
34,520
 
35
2.42
 
37
11.38
14,164
 
37
2.20
 
22
15.62
24,629
 
85
-2.02
 
42
9.91
15,509
 
84
-1.76
 
17
17.26
3,994
 
42
2.09
 
39
10.64
43,065
 
73
-0.59
 
32
12.83
37,437
 
86
-2.09
 
18
16.45
16,008
Lagging Counties
 
62
0.39
 
62
5.17
6,343
 
56
0.91
 
85
-0.50
17,559
 
92
-5.14
 
87
-1.58
4,307
 
90
-3.33
 
64
4.88
6,764
 
41
2.14
 
59
5.86
87,852
 
63
0.18
 
52
7.29
36,394
 
50
1.45
 
91
-3.57
61,795
 
78
-0.78
 
70
4.26
9,431
 
43
1.94
 
53
7.27
4,661
 
67
-0.09
 
90
-3.04
54,341
 
46
1.63
 
73
3.24
237,422
 
70
-0.44
 
75
1.77
42,043
 
38
2.18
 
66
4.80
28,025
 
77
-0.75
 
80
0.92
16,044
 
55
1.00
 
92
-5.80
16,396
 
34
2.44
 
74
2.82
1,704,918
 
71
-0.48
 
63
4.92
23,827
 
81
-1.59
 
98
-15.91
40,937
 
74
-0.64
 
71
4.23
69,268
 
59
0.69
 
86
-0.83
12,237
 
83
-1.74
 
95
-11.10
4,629
 
68
-0.12
 
94
-8.75
96,421
 
36
2.38
 
83
0.57
96,635
 
89
-2.86
 
61
5.46
28,448
 
79
-1.26
 
76
1.46
15,592
 
47
1.62
 
78
1.10
178,270
 
91
-3.95
 
55
6.76
10,389
 
53
1.16
 
49
8.02
13,029
 
52
1.16
 
77
1.22
65,707
 
82
-1.66
 
65
4.88
35,489
 
49
1.49
 
69
4.43
21,102
 
69
-0.31
 
56
6.46
44,454
 
64
0.14
 
88
-1.67
4,118
 
66
-0.07
 
60
5.55
2,967
Undefined/Suppressed Counties
 
U
U
 
81
0.73
1,945
 
U
U
 
S
S
S
 
U
U
 
89
-1.99
2,904
 
U
U
 
48
8.28
5,977
 
U
U
 
82
0.69
1,466
 
U
U
 
11
20.30
1,345
 
U
U
 
84
-0.29
2,035
 
U
U
 
S
S
S
 
 
 
 
 
 
 
 
 
2.87
 
8.65
33,342,828
 
 
 
 
 
 
 
 
 
4.33
 
3.00
1,078,856,000
November 2023
REAP_PI_CA1600N_611000_LSGL
 
   
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