Our Area hardest Hit by Recession
News, Wilkes, Wilkes County, Wilkesboro
He said October was a particularly difficult month for the region. Wilkes and North Carolina’s 24 other westernmost counties lost about 12,000 jobs since January, with 2,700 of the losses in October. Western North Carolina economic activity, as measured by the index, fell 0.9 percent in October. Regional activity also fell at an annual rate of 2.8 percent in the third quarter of 2008, according to the report. Preliminary numbers indicate the national economy dropped at an annual rate of 0.5 percent in this period, Cherry told the Winston-Salem Journal. Twenty-two of the 25 western North Carolina counties experienced a net job loss in October. Alleghany and Watauga counties had the largest job losses (7.39 and 4.89 percent).
All 25 counties have higher unemployment rates than 12 months ago. Wilkes County’s jobless rate fell from 8.1 percent in September to 7.7 percent in October, but it was still among highest in the region. Seasonally adjusted initial claims for unemployment insurance in the region, a leading indicator of unemployment, increased 0.8 percent in October.
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Wilkes County News @ December 9, 2008
