Monday, August 16, 2010

Charlotte Regional economy shows slight gains

Recent regional employment figures were a good news/bad news scenario,
according to the Charlotte Regional Partnership. The regional
unemployment rate went down marginally between May and June, falling
from 11.7 percent to 11.6 percent, with nearly all counties' rates
declining from the beginning of 2010. However, the total labor force
also decreased slightly from a year ago, which may indicate that
discouraged workers are still dropping out of the workforce.

The Carolinas Survey of Business Activity indicates July activity
remained flat, a reflection of national trends. The Institute for
Supply Management's Report on Business reflects growth during July in
the manufacturing sector, although it continues at a slow pace.

July also saw fewer reported layoffs and closings than earlier in the
year. However, there also were fewer new jobs reported, although there
were promising signs as several existing firms expanded and recalled

See the full By the Numbers July report for a breakdown of the
unemployment and employment numbers, as well as housing statistics and
comparisons with how Charlotte USA stacks up with other regions, at:

The Charlotte Regional Partnership's By the Numbers, released monthly,
is the only report of its kind. Easy-to-read charts not only compare
employment numbers in the current and prior years for each of our 16
counties, the report breaks down employment changes by industry. It
compares the Charlotte region with the other six partnership areas in
North Carolina and other major Southeast regions. Charts show at a
glance year-to-year comparisons of the national unemployment rate,
consumer confidence and home sales indices. The report also summarizes
Charlotte USA locations, expansions, closings and layoffs for each
month fiscal year-to-date. And there are extras, such as taxable sales
within the region.

A nonprofit, public/private economic development organization, the
Charlotte Regional Partnership allocates and leverages regional
economic development resources to sustain and enhance the economic
growth, vitality and global competitiveness of the Charlotte region.
The 16-county region encompasses Alexander, Anson, Cabarrus, Catawba,
Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and
Union counties in North Carolina and Chester, Chesterfield, Lancaster
and York counties in South Carolina.