banner
Business

Unemployment drops to 8 percent in Triangle

Posted August 27, 2010

Map Marker  Find News Near Me

— Unemployment in the Triangle dropped slightly in July to 8 percent from 8.2 percent in June, the state Employment Security Commission reported Friday.

Across the state, jobless rates fell in 86 of North Carolina’s 100 counties. Still, more than half of the counties have rates at or above 10 percent.

The statewide unemployment rate is 9.9 percent.

The ESC data shows 813,063 people were working in the Triangle in July, while 70,963 were out of work and seeking employment.

As some companies continue to cut operations or shut down altogether, those that are hiring are doing so in small numbers.

IEM, an emergency management consulting firm, plans to add 50 people over the next year following its move from Baton Rouge, La., to Research Triangle Park. Most IEM employees will transfer from Louisiana, but general counsel Greg Latham said that would still boost the Triangle's economy.

"We're buying houses. We're renting houses. We're buying cars. We're paying for day care," Latham said.

Mike Walden, an economist with North Carolina State University, said the economic recovery will be slow and frustrating.

"There's no question the Triangle felt the impact of the recession. We lost about 30,000 jobs in this market," Walden said.

Economic recovery slow, frustrating

He predicted that the Triangle region would recover within two to three years, but it could take as long as five years for North Carolina to rebound from the recession.

Despite slow job growth and an expected record number of foreclosures in North Carolina this year, some segments of the economy are showing signs of life.

"There is a strong demand for both business and leisure travel," said Andrew Sawyer, a spokesman for Raleigh-Durham International Airport.

Delta Airlines announced this week that it would add 14 flights to its daily schedule at RDU, including service to five new cities.

"Pretty much every seat leaving the airport that is available is going to be full," Sawyer said. "We think Delta is recognizing that, as well as the strength of the region economically, and is deciding to invest here."

Across North Carolina, unemployment rates in the metropolitan statistical areas fell:

• Asheville — 8 percent, down from 8.5 percent in June.
• Burlington — 10.8 percent, down from 11.2 percent.
• Charlotte-Gastonia-Rock Hill NC-SC — 11.2 percent, down from 11.4 percent.
• Durham-Chapel Hill — 7.3 percent, down from 7.6 percent.
• Fayetteville — 9 percent, down from 9.1 percent.
• Goldsboro — 8.4 percent, down from 8.8 percent.
• Greensboro-High Point — 10.6 percent, down from 10.9 percent.
• Greenville — 9.9 percent, down from 10.1 percent.
• Hickory-Lenoir-Morganton — 12.7 percent, down from 13.1 percent.
• Jacksonville — 8 percent, down from 8.1 percent
• Raleigh-Cary — 8.2 percent, down from 8.5 percent.
• Rocky Mount — 12.8 percent, down from 13.2 percent..
• Wilmington — 9.5 percent, down from 9.8 percent.
• Winston-Salem — 9.4 percent, down from 9.7 percent.

115 Comments

This story is closed for comments.

Oldest First
View all
  • working for deadbeats Aug 27, 2010

    Mondays headline: "Unemployment up in Triangle"

  • djofraleigh Aug 27, 2010

    Not what I am seeing with my eyes, but good news to hear.

  • ykm Aug 27, 2010

    bac it didn't sound good did it. Well NC has a chance to break the chains of federal control and create a state that allows people to keep what they earn and corporations the same. Use nothing more than a sales tax, no income tax, no deductions, no property taxes, nothing but a sales tax. That way you only get taxed on what you spend. Think about it.

  • ykm Aug 27, 2010

    Arm chair economists. Nice little poke in the eye. Well let me say this with my feet up on the old lazy man. I can tell the truth from a lie and can add and subtract. And that's about all ya need. If I balance my budget every day, week and year. So should all. If ya can't, thanks for comin. The idea of the fed buying debt will not create any consumer demand. The man who said that below is correct. And boys, girls and old vets that's all that is important, nothing else matters. Consumer demand creates wealth and pays off debt. Anything added is just fluff. Keep it simple stupid.

  • bacchianm Aug 27, 2010

    In the Triangle Business Journal today was an article from the Feds saying the business climate has darkened considerably in North and south carolina. Two companies here in the triangle have just announced large layoffs. The dental practice that I work has a very large patient base and people are opting to have their teeth pulled pulled instead of restored due to bad finances.The Demoncrat controlled agencies can say all they want about how things are looking much better, I for one dont see it.

  • foamballforex Aug 27, 2010

    I don't believe in this article. :-/

  • MakoII Aug 27, 2010

    I kind of remember the same conservative defense of unemployment when it was at 4.5%, saying how if it was too low it would be an employee's market.

    Well, guess what my friends, it's NOT an EMPLOYERS market.

    I don't see companies who WISH to hire have a problem getting well-skilled employees at any price they wish.

    No matter what the economy is, it's good for SOME people. Rejoice!

  • mtnmama Aug 27, 2010

    And furthermore, too many folks out there believe that 99 weeks of Unemployment is the standard. It is NOT. The unemployed get benefits of "x" dollars, for "x" weeks. Those specific numbers are calculated individually based on the person's past employment history. VERY FEW qualify for the max of 99 weeks. Most are much less than that, & the weekly amt is only a FRACTION of what the person earned while employed...hardly enough to get lazy & take a longterm vacation, while risking their credit rating & losing their homes, cars, helath insurance, etc. It's easy when you have a job, to sit back & judge other's situations when you do not understand the true picture & worse, believe the hype & media. Trust me, it's a very slanted picture, so don't be fooled. This country's economy is collapsing...that has not & will not change until voters & politicians get their heads outta the sand!

  • Peace Love and Cold Meds Aug 27, 2010

    and the Fed saying they'll act if it gets bad enough, WHAT? is this not bad enough you retards!

  • rargos Aug 27, 2010

    Everyone knows the economy is bad and going back down instead of up. Playing games with unemployment numbers, etc. doesn't change that fact.

More...