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Real Estate News

Triangle jobless rate drops to 5.3 percent

NC Unemployment rates drop

The jobless rate in the Triangle has been on a steady decline since December.  In a report released on Wednesday by the NC Department of Commerce the North Carolina unemployment rate is at the lowest level since August 2008.

In December, the Triangle added 2,500 jobs and 19,300 jobs were added last year. The majority of job growth in North Carolina is in the Triangle and Charlotte metropolitan areas which accounted for 64,500 jobs last year.

Forecast predict that the Triangle will add about 25,000 to 30,000 jobs in 2014, this would lower the unemployment rate close to 5%.

Michael Walden, an N.C. State University economist said, “It could still be stronger, but I think we’re on a path to see better growth in 2014, primarily fueled by two things: the housing market recovery and household finances in better shape.”

“Despite the recent sell-off in the stock market, Mark Vitner stated, “The economic outlook is better today than it’s been at any other time since the recession. … Over the course of the year, I think we’re going to find out that a lot of the surprises are going to be to the upside for a change.”

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About PhilJawny

Award winning mortgage banker with over 14 years of experience.

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