Friday, November 12, 2010

Charlotte USA unemployment continues downward trend

Unemployment has continued to fall steadily since June, as every one
of the 16 counties in the Charlotte region experienced a drop in its
unemployment rate from August to September. The Charlotte Regional
Partnership's October By the Numbers reports that as a region, the
rate fell to 10.9 percent from 11.6 percent with initial unemployment
claims across Charlotte USA decreasing a whopping 27 percent from
September 2009.

However, the labor force continued to shrink slightly, dipping .7
percent, which might indicate residents are still experiencing
frustration with job searches, and no longer are categorized as
actively looking for work. The U.S. Consumer Confidence Index, which
had declined in September, increased slightly in October. While
slightly improved from September levels, the index is still hovering
at historically low levels.

The Federal Reserve's Fifth District Survey of Manufacturing Activity
in the central Atlantic region, which includes the Charlotte region,
advanced modestly in October, following a slight pullback in
September. Shipments and employment edged back into positive territory
while the volume of new orders posted solid gains. The Federal
Reserve's Carolinas Survey of business activity index increased in
October although it remained in negative territory.

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. View the full October report at

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.