Charlotte is expected to add jobs at a faster pace than the U.S. as a whole next year, according to an economic forecast from PNC Financial Services Group.
The bank's economists said Charlotte's employment should grow 2.1 percent in 2013, more than the 1.4 percent they predict for the country overall and more than the 1.3 percent the city is slated to record this year.
"Over the long term, low business costs and a young, growing, educated population will enable Charlotte to outperform the U.S.," the economists write
Charlotte should see "strong gains" in professional services and consumer industries in the coming year, according to the forecast. Manufacturing growth should slow, but retail will increase based on expected population growth. The bank says finance and government employment should get its footing back as well.
The unemployment rate will decline, but stay stuck higher than the national average as population increases partially counteract job growth.
Monday, December 31, 2012
PNC: Charlotte job growth will be faster than U.S.
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4 comments:
It's all dependent on demand from consumers. Currently demand is down, so Charlotte will follow the national trends. The banking industry is not increasing employment but decreasing employment.
Southernboy JJ
It's all dependent on demand from consumers. Currently demand is down, so Charlotte will follow the national trends. The banking industry is not increasing employment but decreasing employment.
Southernboy JJ
Why then is PNC calling many of its local business loans early and forcing them into trouble? Seems the only ones they are willing to loan money to right now are churches and government.
But what will happen when the government defaults? It's inevitable and easy to see if you have an elementary understanding of math. It will happen, best to take action to prevent the harsh realities it will create.
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