| 115th Year, 20th Issue | Thursday, December 25th, 2003 | Sparta, North Carolina |
BOONE — Western North Carolina's economy grew at a modest 0.1 percent in October, but has grown a strong 2.9 percent over the past five months, according to the Western North Carolina Economic Index.
The index, which is compiled at Appalachian State University, tracks economic activity in 25 Western North Carolina counties, was 126.2 in October.
Todd Cherry, an author of the report and an economist at Appalachian, says the most recent data shows the regional economy continues to improve.
"For the first time in more than two years, the region has had two
consecutive months of job growth. And a significant drop in initial
claims for unemployment indicates the job growth may continue," Cherry
said. "The job numbers look promising, but the labor market still has a
long way to go to recover the jobs lost over the past few years."
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