counties experiencing a drop in the unemployment rate from July. As a
region, the overall unemployment rate dropped to 11.5 percent from
11.8 percent. However, the Charlotte USA labor force continues to
decline, which may indicate residents are still frustrated with their
job searches and no longer are categorized as actively looking for work.
Initial unemployment claims also declined slightly from July to
August, down a dramatic 21 percent from a year ago, according to the
Charlotte Regional Partnership's August By the Numbers at http://www.charlotteusa.com/documents/charlotteusa_by_the_numbers_9-30-2009.pdf
Total taxable sales reported throughout the region are 10 percent
higher, or nearly $240 million more, than sales reported a year ago.
These are all indicators that Charlotte USA's economy is heading in
the right direction.
Nationally, the U.S. Consumer Confidence Index, which improved
slightly in August, lost ground in September. The Conference Board
explained that the pull-back was most likely due to less favorable
business and labor market conditions, in addition to a more
pessimistic short-term outlook. The Federal Reserve's Fifth District
Survey of Manufacturing Activity that includes our region slowed in
September as shipments and employment declined. Yet, despite the
decline, companies surveyed were more optimistic about their future
prospects, as they anticipate a rapid increase in shipments, new
orders, backlog of orders and the average workweek in the months ahead.
The Charlotte Regional Partnership's monthly By the Numbers 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.
