Triangle Business Today

NC unemployment drops; Wake County building permits rise

Posted November 16, 2012

Triangle Housing continues to be the beneficiary of some stronger than expected economic and housing news from here in North Carolina.

The overall Unemployment Rate for North Carolina declined in October to 9.3% according to the latest report out from the North Carolina Department of Commerce. The October number is down from September’s 9.6% reading.

October data for Wake County Home Building Permits was released this week as well, indicating some significant percentage gains in year over year data from January-October of 2011 to 2012. Here are some of the improving areas in the Triangle.

  1. Apex increased 56%
  2. Fuquay-Varina increased 54%
  3. Garner increased 175%
  4. Raleigh increased 26%
  5.  Rolesville increased 144%

More homes being built translates into more jobs for the industries associated with housing. A trend that we’re certainly welcoming here in the Triangle.

Mortgage Rates continue their journey lower due to European economic concerns, Middle East unrest and the continuation of domestic economic headwinds.

Have a great weekend everyone!

1 Comment

This story is closed for comments. Comments on WRAL.com news stories are accepted and moderated between the hours of 8 a.m. and 8 p.m. Monday through Friday.

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  • joeguard72 Nov 17, 1:08 a.m.

    On the same page, WRAL says 2 Krogers are closing in Raleigh. Seems to me that would off-set this supposed decline in unemployment.
    :-(

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.