WNC region gained 10K jobs in ‘05

BOONE—Despite a slowdown in Western North Carolina’s economy during the fourth quarter of 2005, employment trends remain positive, according to the Western North Carolina Economic Index compiled at Appalachian State University. The region gained about 10,500 jobs during 2005.

Economic activity was flat for December 2005 and remained unchanged from the previous month’s index of 119.5. The slowdown corresponded to similar trends at the national level, according to Todd Cherry, an economist at Appalachian State University and an author of the Western North Carolina Economic Index. Cherry is the Harlan E. Boyles Professor in Appalachian’s Walker College of Business.

“While regional economic activity slowed, the employment picture for the region continued to make gains in December,” Cherry said. “The number of jobs increased, unemployment was lower, and initial claims for unemployment also are lower.”

Trends for the entire year also ended on a positive note. “Regional job growth for 2005 was just under 2 percent, which translated to about 10,500 new jobs,” Cherry said. “There are about 3,500 fewer unemployed people in the WNC workforce than a year ago.”

Seasonally adjusted employment for the region increased .29 percent in December and increased 1.8 percent for the year.

Eighteen of the 25 WNC counties had positive job growth in December with the largest gains occurring in Henderson, Macon and Swain counties. Watauga County recorded the largest decline in employment.

Get the rest of this article in this week's issue of the Alleghany News! Back