Charlotte Regional economy shows slight gains

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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 workers.

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:
http://charlotteusa.com/documents/charlotteusa_by_the_numbers_7-31-2010.pdf

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.
www.charlotteusa.com

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