Local economy is improving... (Johnson City, Kingsport: sales, home, employment)

[rccrain]

By the Numbers: Local economic stress decreases - Kingsport Times-News Online

It's about time for some good economic news. BUT. Are the jobs seasonal or permanent? It seems a month early (September data) for it to be seasonal, so I'm optimistic.

For Washington County:

Unemployment
AUG: 8.4
SEP: 8.0
Almost a 5% improvement.

[SarahSal]

More good news for the local economy, per the Press via the Times-News.

"Job growth continued in Kingsport, Johnson City and Bristol for the 10th straight month this year during October, and unemployment rates dropped in all three cities. "

JohnsonCityPress.com - Local News - Johnson City, TN

[rccrain]

Yes, it is. Retail sales are up for Washington County and Sullivan County for 4q 2010. 1q 2011 sales are going to be up big, 5-7%.

[Tony1790]

Originally Posted by rccrain

Yes, it is. Retail sales are up for Washington County and Sullivan County for 4q 2010. 1q 2011 sales are going to be up big, 5-7%.

Wouldn't that increase in sales be accounted for by the recent inflation fueled spike in food and fuel prices?? Is that good news?? Great news that the unemployment rate is down, better than the national rate as well

[rccrain]

Inflation might account for 1% of that. I think it's three things.

1. Folks aren't as afraid of collapse, and they are tired of being so frugal.
2. Employment is ssslllooowwwly improving. Fear of layoffs gone.
3. Tax returns being spent, not saved.

[Tony1790]

Originally Posted by rccrain

Inflation might account for 1% of that. I think it's three things.

1. Folks aren't as afraid of collapse, and they are tired of being so frugal.
2. Employment is ssslllooowwwly improving. Fear of layoffs gone.
3. Tax returns being spent, not saved.

1. Yes to both, but "they" would be both incorrect on the first and unwise on the second.
2. Yes to both
3. Yes, but not good news and unwise. I'll give you an example. My own mother received $2000 in tax money back, I advised her to keep half back as an emergency fund and feel free to spend the rest. Instead she spent the entire amount in a week and now doesn't have money for gasoline. She's one of the many affected by false govt figures that deny social security recipients of a cost of living raise, because gasoline at $3.32 a gallon when it was $2.98 a week ago, has no effect on her cost of living, but does make retail sales "appear" to have improved.

I love your optimism, but I personally despise untruths by govt stats, especially when it has real impact on real people, vs just telling gullible people what they want to hear to get elected.

Take care, hopefully lowering unemployment will increase wages some, gas aint getting no cheaper

[Ted Bear]

Originally Posted by Tony1790

1. Yes to both, but "they" would be both incorrect on the first and unwise on the second.
2. Yes to both
3. Yes, but not good news and unwise. I'll give you an example. My own mother received $2000 in tax money back, I advised her to keep half back as an emergency fund and feel free to spend the rest. Instead she spent the entire amount in a week and now doesn't have money for gasoline. She's one of the many affected by false govt figures that deny social security recipients of a cost of living raise, because gasoline at $3.32 a gallon when it was $2.98 a week ago, has no effect on her cost of living, but does make retail sales "appear" to have improved.

I love your optimism, but I personally despise untruths by govt stats, especially when it has real impact on real people, vs just telling gullible people what they want to hear to get elected.

Take care, hopefully lowering unemployment will increase wages some, gas aint getting no cheaper

You throw a couple trillion dollars of printed money into the economy, and i will show you one hell of a party.

We just had it.

Oh, the hangover......

[lostinaurora]

problem with this great area is this: unless you are a professional (doc, lawyer, banker, medical field person, etc) you dont have many options, retail aside. this blows and is sad bc you have such an amazing place there in upper east tennessee that would be home to many more, were there more jobs available.

[dreamofmonterey]

The retail and pink collar jobs are okay when you are a student. When you have a mortgage and kids, you end up moving. my neighbor worked at Bristol Coca-Cola plant in white collar job. They downsized, and he now has to sell his house.

[NorthernLights]

Been discussing the local economy issue with my brother in Greenville SC. We noted that their unemployment figures are slightly higher than here at about 10% where i believe this area is listed more about 9%. The difference in the numbers seems to be that last year their unemployment figures were around 12% where ours was still at 9%. I've spent a good deal of time down there recently and I see a much more vibrant area in many ways. I guess the difference would be that their unemployment figures have dropped by almost two percent while ours have stayed the same. This would indicate simply that they are going back to work and finding new jobs while we here...are stagnant.
They have a much different industry base than we do here and they have a better way of getting their wares to market and they are interconnected within industries within the Greenville/Spartanburg area and are closer to Atlanta and Charlotte and the coast. We have many attractive things for industry but we still remain a bit too far out from the ports and cities like Atlanta to attract industry. Maybe, like they have done we can keep an eye on industries like Volkswagen that came to Chattanooga and try and figure ways we can supply that industry with what it needs to get them to consider us 3 hours up the 81 corridor. My brother, who is an engineer mentioned that there seems to be a "4 hour" barrier that many industries consider with shipping costs that this area seems to just be outside of. It's a shame since we have rail connections and we're right on 81 but we seem to be just out of the area of consideration for most other industry to consider us an area for suppliers.
There is the bedding industry up in the southwest VA area, chemical and coal, locally there are a number of 'call industries' that can be anywhere there are phone lines for phone solicitation and credit/debt harrasment of people behind on their payments throughout the country but the former manufacture of other small parts like for the auto industry seems to have moved away from here. The local industries are just now hiring some of the people they laid off back but no new jobs to speak of. Buildings that used to house those industries seem to be vacant and for lease. The medical fields seem to be the best paying industry for this area. That's just not enough to maintain a vibrant economy on however. We need to attract something new that can be further away than 4 hours from Atlanta and the port cities. We have business 'incubators' that are being funded by the state and the colleges but as yet I haven't heard any good ideas about what people can try to develop for this region. Pity, it has so much going for it in so many ways.