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July 20, 2010

North Carolina economic leaders

Several measures suggest the economy has turned the corner. When we look at North Carolina, which sectors and regions have done the best?

Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:

"Since last winter North Carolina has actually added jobs -- about 66,000 jobs -- and if we look at where those jobs have been created, we see a couple sectors really account for most of them: in particular, professional and business services; trade -- that would be wholesale and retail trade -- and a category that economists call information, which can include communications as well as some computer work.

"All of those have gained at fast rates in North Carolina and actually have gained jobs faster than at the national level.

"We do want to mention that the government sector also has increased in jobs. Most of that, though, in North Carolina -- and, in fact, the predominant part of that -- is in teachers.

"Now, in terms of regions in the state, again we have seen a turnaround in the economy. If you look at jobs in most of our state's regions, the Triangle though goes at the top, growing much, much faster than any other region, followed by Charlotte and Hickory.

"And at the bottom of the list, interestingly, Wilmington: Wilmington has gained jobs at a very slow pace, and I think that's because of issues still with the tourist industry and perhaps real estate on the coast."

Posted by deeshore at July 20, 2010 09:00 AM