| 118th Year, 23rd Issue | Thursday, January 18, 2007 | Sparta, North Carolina |
BOONE-Western North Carolina's economy grew a modest .2 percent in November, continuing the pattern of slow growth that has plagued the region for the past six months.
According to the current Western North Carolina Economic Index compiled at Appalachian State University, the regional economy has slowed to an annual growth rate of 1.2 percent over the past four months. The national economy grew 1.6 percent during the third quarter of 2006.
"While the regional economy slowed considerably in the second half of the year, it is still moving forward, albeit at a weak pace," said Todd Cherry, a professor of economics in Appalachian's Walker College of Business and coauthor of the index.
While 19 of the 25 WNC counties had positive job growth in November, the largest gains in employment were in the central-west area of the region. "The employment gains were not felt by everyone. Hickory, in particular, had a rough month," Cherry said.
Seasonally adjusted employment for WNC increased .24 percent in November, the fifth monthly gain in the last six months. Statewide employment increased .30 percent for the month.
The seasonally adjusted rate of unemployment for the WNC region
increased .2 percentage point in November to 4.9 percent. The
national and statewide adjusted unemployment rates also increased .2
point to 4.9 percent. WNC's November unemployment rate is .3 point
lower than 12 months ago.
|
Get the rest of this article in this week's issue of the Alleghany News! Back |