Economic faltering continues

Western North Carolina economic activity, as measured by the Western North Carolina Economic Index, fell .1 percent in June 2010—the second consecutive monthly decline.

The index, which tracks the level of economic activity in 25 western North Carolina counties, increased at an annual rate of .4 percent in the second quarter—down significantly from the 4 percent rate for the first quarter of 2010.

As a comparison, the national economy grew at 2.4 percent in the second quarter and 3.7 percent in the first quarter. Locally, unemployment was at 10.73 percent in June, up one full point from the 9.74 percent rate reported the month prior. Alleghany ranked near the middle of the pack for unemployment rate at 13th of the 25 counties. However, the current rate was still better than the 12.68 percent rate reported in June 2009 and closely matched the rate reported in April 2010, which was 10.72 percent.

As for the surrounding counties, Wilkes County had an unemployment rate of 12.76, ranking 20th in the region, up from 12.61 the month prior. Wilkes' rate in June 2009 was 13.12 percent.

Meanwhile, Ashe County posted an unemployment rate of 11.57 for a ranking of 15th in the region.