| 117th Year, 41st Issue | Thursday, May 18, 2006 | Sparta, North Carolina |
Western North Carolina's economy increased .8 percent in March, the largest monthly increase in 10 months. The regional economy grew at an annual rate of 3.6 percent during the first quarter of 2006, according to data complied in the Western North Carolina Economic Index prepared at Appalachian State University.
"The regional numbers rebounded strongly in March," said Todd Cherry, author of the report. Cherry is an economist and the Harlan E. Boyles Professor in Appalachian's Walker College of Business.
"The strong numbers in March counter the weakness observed in January and put us back on a trend of solid growth," he said.
Seasonally adjusted employment for the region increased .48 percent in March, the highest level of employment in recent years. Statewide employment increased .3 percent.
Eighteen of the region's 25 counties had positive job growth, with the largest gains in employment occurring in the foothill counties. The largest job losses occurred in Alleghany, Ashe and Watauga counties.
"Job creation and unemployment declines were widespread throughout the
region," Cherry said. "Employment numbers for the region reached the
highest level in many years. This is a welcome outcome in the foothill
counties, which have often struggled with the region's highest
unemployment."
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