The Wilmington metropolitan area’s economy has experienced significant growth over the last four years.

As of April, it now boasts 16,000 more jobs than in the same month of 2019.

While almost all sectors have benefited from this growth, the health care sector was not only central to this transformation but is now the largest sector with 25,600 jobs and represents 17.1% of total employment.

While most people associate the area with the ocean and all its related activities, the economy has become considerably more diversified, and health care is leading the charge.

This growth comes amidst significant migration towards the region that now puts the share of people over the age of 65 at 19.1% in New Hanover County, 18.6% in Pender County and 35% in Brunswick County.

The aging of the population and continued population growth will translate into additional demand for health care services from residents.

Additionally, Wilmington’s health care sector provides important services to neighboring areas, and that role will continue to grow as the state continues to age.

From an economic perspective, the fact that the health care sector provides services to not just residents but also individuals living in neighboring regions means that it serves as a basic sector that stimulates economic activity locally.

That is because the income generated by the sector exceeds local demand and can, therefore, create more economic activity through the multiplier effect in the form of jobs, and added income.

Another important dimension of health care’s growth is in its contribution to the area’s employment diversification and gradual shift from lower-paying jobs to higher-paying ones.

At the state level, for example, the average hourly wage for the leisure and hospitality sector is $19 but $33 in health care.

At the local level, this is particularly important as the availability of higher-paying jobs will be important for continued economic growth and prosperity especially given the increase in housing costs.

From a supply/demand market perspective, the health care market is still a very tight market with only 0.6 job seekers for every job opening, which compares favorably to the 0.9 job seekers for every opening for the average job at the state level.

While this is attractive to job seekers, it also points to challenges in filling health care occupations, especially lower-paying ones.

The Wilmington region’s economy is bound to continue growing and attracting migrants from all over the country.

This population growth will mean continued demand for health care services, which means it will be important to map the sector’s growth to the changing demographics of the region to make sure there are enough skilled professionals in the area.

Mouhcine Guettabi is a regional economist with UNCW’s Swain Center and an associate professor of economics at UNCW’s Cameron School of Business.