Economy

Common indicators of a city’s economy are the employment rate, income and poverty levels.

Economy - Unemployment

High Point’s unemployment rate peaked at 11.4% in 2009 following the Great Recession, but then steadily decreased back down to its lowest levels in 20 years before the impact of COVID-19 caused a spike to 9.3% in 2020. This compares to a state-wide unemployment rate that peaked at 11% in 2009 and jumped to 7.3% in 2020.

The median household income, which is the income level that creates an equal distribution above and below it, was $43,594 for High Point in 2010. This was less than the $45,570 median income level for the state, but higher than both Greensboro ($41,530) and Winston-Salem ($41,483). The percentage of households by income category for the three Triad cities is shown in the following chart.

Economy - Household Income
Economy - Poverty

Between 2000 and 2010, there was a 70.9% increase in the number of individuals living below the poverty level, which was more than triple the increase in the total population over the same time.  This resulted in 19.3% of the total population living below the poverty level for all age groups in 2010, compared to just 13.2% in 2000 and 12.7% in 1990.

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