According to the recently released Western North Carolina Economic Index, the region's economy remained flat for the first quarter of the year.
"We had some positive movement during the first two months of the year, but that was wiped out by the losses in March," said Todd Cherry, an Appalachian State University economics professor and author of the report. "The regional economy continues to teeter on the edge of a recession, but the main story is the magnitude and persistence of the economic weaknesses."
The region isn't holding up as well as the rest of the state, Cherry said. Western North Carolina lost nearly 3,000 jobs during the first quarter.
Thirteen of the 25 Western North Carolina counties experienced a net job loss in March, but Catawba County was third in job gains.
Regional unemployment exceeds national and state averages. Unemployment increased throughout the region in 24 of the 25 counties. The seasonally adjusted rate for the Hickory metro -- Alexander, Burke, Caldwell and Catawba counties -- rose 0.3 points to 6.7 percent. Approximately 11,000 people are out of work in the counties.
In Catawba County, recent layoff announcements include two in the furniture industry.
Clayton Marcus will lay off 232 people beginning late this year. Progressive Furniture started cutting more than 300 jobs in December.
Overall, unemployment has hovered around 6 percent for about three years in Catawba County. While still higher than state and national averages, it's an improvement from the 8 percent or more earlier this decade when furniture, textiles and cable manufacturing industries bled thousands of jobs.
Officials expect positive news in the Hickory area to affect the rate later this year.
Last month, furniture manufacturer Williams Sonoma announced 820 new jobs during the next three years. The company already has begun hiring people.
The Target distribution plant near Newton will open in summer 2009, bringing at least 400 jobs and likely hundreds more. Company officials expect hiring to start later this year.
Finally, dozens of people are being hired in Caldwell County at a new Google data center set to open soon.
"With these new announcements, we're loading a lot of employment for later in the year," said Allan Mackie of the North Carolina Employment Security Commission's Newton office. "There is a lot of positive activity in that arena."
UNEMPLOYMENT
Catawba County
2007 average -- 5.5
Jan. -- 6.1
Feb. -- 6.2
March -- 6.3
Hickory Metro
2007 average -- 5.9
Jan. -- 6.6
Feb. -- 6.6
March -- 6.4
NEW JOBS
The following is a list of some of the new business projects coming to the Hickory region.
Project Location Jobs Hiring date
Target Distribution Center Newton 400 Late 2008
Google data center Lenoir 200 Current
Williams Sonoma Hickory 800 Current
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