Economy grows in region

Western North Carolina’s economy continued strong positive growth during May, as measured by the Western North Carolina Economic Index compiled at Appalachian State University. The regional economy increased .2 percent in May, said the report.

The index, which tracks the level of economic activity in 25 western North Carolina counties, has increased 5.2 percent over the past 12 months.

“The regional economy continues on a trend of strong growth, generally outpacing the national economy over the past 12 months,” said Todd Cherry, an author of the report. Cherry is the Harlan E. Boyles Professor in Appalachian’s Walker College of Business. “Things look good. Employment is up, unemployment is down and initial claims for unemployment insurance are down,” Cherry said. “Wages, however, are flat. This is a lingering effect of the past weaknesses and structural changes in our labor market.

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