New Unemployment Numbers are not good (Charlotte, Washington: sales, 2009, receptions)

[chicagocubs]

Charlotte's unemployment rate hit 10.5% in January | CharlotteObserver.com

If you have a job, treasure it. If you don't...might better think about relocating somewhere else!

[SunnyKayak]

I told my partner who has had stressful days at work that no matter how rough your job or employer is you better turn the other cheek. I informed that your employer is even under more stress from their higher ups so be grateful and appreciate working.

[mullman]

I think [hope] things will get better shortly.
I am a bit worried about the Quadrillion Derivative ( you can Google it ), but am hoping for the best.
My business has seen an uptick but we are cut to the bone...

FWIW NO local banks [big or small, bailout or not] are lending.

I've called Washington and have actually gotten several calls back.
They are absolutely FURIOUS that bailouts are not leading to new lending.
Watch the news (if you dare, you'll see it soon).

Tried to get a loan on $5M in property (tax value - completely paid for) for a peasly 10% of value from multiple local sources - DENIED 2x
I have been in business many years and have never seen it quite like this.
Glad I have savings, otherwise many people would be out of work, including myself.

I have personal friends in banking (college and HS) that tell me that the FED shut down their commercial lending as of December 2008 or they risk losing FDIC insurance.

I have very little reason to doubt friends that I have known 25-40 years, so if you know different please let me know.

[Carolina_Stud]

Originally Posted by chicagocubs

Charlotte's unemployment rate hit 10.5% in January | CharlotteObserver.com

If you have a job, treasure it. If you don't...might better think about relocating somewhere else!

You think 10.5% unemployment is bad now wait another year or so!!!!! Also wait till peoples unemployment starts running out.

[chicagocubs]

Originally Posted by Carolina_Stud

You think 10.5% unemployment is bad now wait another year or so!!!!! Also wait till peoples unemployment starts running out.

Let's just hope & pray it doesn't get much worse!

[mullman]

Originally Posted by Carolina_Stud

You think 10.5% unemployment is bad now wait another year or so!!!!! Also wait till peoples unemployment starts running out.

I have cash, but do not think that will matter if things get incredibly worse.
Have you seen the articles in the global papers calling for a one world currency or the end of the dollar's reign?
Our 'money' [paper] will not matter...

My street has several bankers and lawyers [who support the banks] and no-one feels safe from the economy.
3 have already lost their jobs, the rest are hanging in the balance...

[BrianH1970]

Don't pack your bags just yet...


WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-UNC Charlotte Economist: NC economy could improve in the second half of 2009

"The expectation is that the North Carolina economy should begin a modest recovery during the second half of 2009," Connaughton said. "The recession, which began in January 2008, is expected to last at least six quarters. This would make the 2008-2009 recession the longest recession since the recession of 1982, which lasted 16 months.

WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-Is the economy turning around?

Bank of America CEO Ken Lewis' comments are causing the stock market to surge. The bank is posting a profit for January and February, and Lewis says he expects it to make $50 billion this year.

Even Citigroup seems to be doing better. "The other thing is Citi made money in January and February which is even better news because Citi is much weaker," Plath says.

"Signs that are beginning to emerge that we're not in a free-fall," Plath says. "We're beginning, underline the word beginning, to sort of bottom out here.

And it's amazing how fast good news trickles down.

Blue is an upscale restaurant and bar at the bottom of the Bank of America tower. Blue's owner, Alex Myrick, says sales are up, and so are his customers. "There's no question about it," Myrick says. "If you start to see a cocktail hour that's increasing, or people standing around and actually having positive conversations, yes, that's wonderful and we're seeing a lot of that. We're seeing more people booking parties now, we're seeing more cocktail receptions, which is exciting, and we've seen a small uptick in our 5:00pm to 7:00pm time period."

Could happy hour be here again?

"Let's not break out the Champaign and declare that the recession is over," says Plath. "But having said that, there's more good news this week than there is bad news.

[rackley]

Well, in light of other areas, 10% isn't too bad. I just moved here from the Detroit area, which had this headline today:

Detroit’s unemployment rate jumps to 22.2% in January

[BrianH1970]

Originally Posted by rackley

Well, in light of other areas, 10% isn't too bad. I just moved here from the Detroit area, which had this headline today:

Detroit’s unemployment rate jumps to 22.2% in January

Or 24 New Jersey cities posting double digit unemployment rates, certainly higher than Charlotte's...


24 NJ cities post double-digit jobless rates -- Newsday.com

[NCgirl]

Another poster runninginheels posted this in a different thread. I found it interesting, although not surprising.

Charlotte's popularity hurting job market