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Economic index again finds growth in Western N.C.
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Published: April 17, 2008
BOONE -- The economy in Western North Carolina picked up momentum for the second consecutive month in February, according to an index that measures business activity in the 25-county region.
But one of the authors of the Western N.C. Economic Index said yesterday that the region's economy is still struggling for job growth. The index was at 118.2, which was up 0.5 percentage points from January. The index includes Alleghany, Ashe, Watauga and Wilkes counties.
"The latest numbers provide some hope that the region may not tip into a recession; however, we are still on the tipping point," said Todd Cherry, an economics professor at Appalachian State University.
"Job growth in the region has been essentially nonexistent for more than a year, but this is not unique to the region. Statewide job growth during this period has also been flat."
The index found that 21 of the 25 counties had higher unemployment rates than in February 2007.
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