January 7, 2009...10:07 pm

Jobless rates spike in WNC

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ASHEVILLE – Western North Carolina’s jobs situation deteriorated significantly in November, according to state figures released Tuesday.

The region’s unemployment rate was 7.2 percent, up from a revised 6 percent in October and dramatically higher than the 3.9 percent 18 WNC counties recorded in November 2007.

The numbers reflect the generally poor health of the local and national economies.

“It just kind of confirms what people were thinking, which is this is a serious situation,” said Todd Cherry, a professor of economics at Appalachian State University.

Jobless rates in WNC typically rise from October to November because of seasonal factors, but increases were much larger than usual this year.

“The labor market is deteriorating fairly dramatically and you just wonder how far it can go,” Cherry said.

Three counties in the region had jobless rates greater than 10 percent in November, compared to none in October.

Cherokee County’s 12 percent jobless rate was the worst in the region and the third-highest statewide.

“It all started with construction. The housing slump hit us and I think that has had an adverse impact on other sectors,” said Chip Wood, manager of the state Employment Security Commission office in Murphy.

Read full article from the Asheville Citizen Times

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