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May 27, 2010
Is North Carolina's economy improving?
With spring often comes hope, and we certainly need hope for our economy. There is no question that our North Carolina economy took a big battering during the recession. As we move toward the middle of the year, are we finally seeing some improvement?
Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:
"I think so. ... An index of factory output in our state shows that our factories are producing more. Home prices in our state actually moved a little higher in the last reporting period, whereas they moved lower at the national level.
"And very importantly for most people, we have seen, I think, a turnaround in the job market. One survey shows that employment in the job market is up for four straight months; another survey shows that it is up for four out of the last six months. I think that by this summer we should start to see significant reductions in the state unemployment rate.
"We have a long way to go. This was a devastating recession, but I do think we've seen a turn in our North Carolina economy for the better."
Posted by deeshore at May 27, 2010 08:19 AM