Generally I’m an optimistic guy and this time I don’t have to worry about reality being disconnected from my fantastic view of it. The numbers speak for themselves when it comes to a recovering market.
The recent October issue of the Research Triangle Regional Partnership Report was filled with information on job growth for North Carolina and specifically the Triangle region. Among the long list of companies locating or expanding included: EMC Corp., Medicago, Cree, Novo Nordisk, GE, BioCryst, SuperValu, and Siemens. Job growth is especially strong for alternative energy firms. According to the North Carolina Sustainable Energy Association, they forecast a 22% increase in jobs this year, and a projected 20% increase for 2011.
Our area gets great national attention in various publications. Forbes magazine continues to dole out awards to North Carolina, ranking our state as the third best state for business in the US. That is up two spots from last year. Forbes indicated the key reasons to be regulatory environment, labor supply and growth prospects.
According to Federal Bureau of Labor and Statistics, North Carolina is the third best state for declining unemployment and fourth in the nation for job creation. Unemployment is down from 11.1% in January to 9.7% now. No surprise as Manpower recently ranked the Raleigh-Cary metro area as the number one strongest job market in the nation in September.
Are we seeing an end to the recession? The Kiplinger report said yes over a month ago. I remain pragmatically optimistic and look forward to working with you in the future.