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No matter how many times you talk about RBC and Progress Energy, the unemployment rate in Charlotte is still significantly higher than the Triangle. Plus, these two employers were not the core of the Triangle's employment landscape.
That is simply because Charlotte has a much higher city population. Charlotte unemployment rate is around 10.5% while raleigh is around 9%. Also banking/finance only accounts for only 10% of jobs in the Charlotte region!!
That is simply because Charlotte has a much higher city population. Charlotte unemployment rate is around 10.5% while raleigh is around 9%. Also banking/finance only accounts for only 10% of jobs in the Charlotte region!!
Raleigh is in much better shape economically. They have barely even had a recession compared to Charlotte. Charlotte was hit extremely hard and I think the unemployment rate here is hovering around 12% still, with no sign of immediate improvement. The banks are still laying off en masse so its more than likely going to get much worse before it gets better. The problem is Charlotte's entire economy is dependent on just a few companies. This is getting better than it was a few years ago, but Charlotte has a long ways to go in terms of diversifying its economy. If BofA were to go the way of Lehman, Charlotte would become Detroit overnight.
Raleigh is in much better shape economically. They have barely even had a recession compared to Charlotte. Charlotte was hit extremely hard and I think the unemployment rate here is hovering around 12% still, with no sign of immediate improvement. The banks are still laying off en masse so its more than likely going to get much worse before it gets better. The problem is Charlotte's entire economy is dependent on just a few companies. This is getting better than it was a few years ago, but Charlotte has a long ways to go in terms of diversifying its economy. If BofA were to go the way of Lehman, Charlotte would become Detroit overnight.
Banking makes up ONLY 10% of Charlottes economy. Our unemployment rate is 10% compared to 9% in Raleigh! The only reason our rate is higher is because we a much higher city population. I work in Raleigh, trust me Charlottes economy is Alot more diverse then Raleigh! I.e. tourism, logistics, manufacturing, etc...
Banking makes up ONLY 10% of Charlottes economy. Our unemployment rate is 10% compared to 9% in Raleigh! The only reason our rate is higher is because we a much higher city population. I work in Raleigh, trust me Charlottes economy is Alot more diverse then Raleigh! I.e. tourism, logistics, manufacturing, etc...
Wake county's unemployment is 8.5% vs Mecklenburg which is at 11%. 3% of the workforce is a big and noticeable difference if you are a job seeker.
All of that said, I do believe Charlotte is the superior city in terms of urban amenities, quality of life, etc despite the fact Raleigh has the clear economic advantage at this time.
I'll take the Triangle over Charlotte any day, lived in Raleigh 8 years, loved it. More pine trees, less billboard mess, better managed (Raleigh and Cary at least), 3 major universities within 20 miles. Raleigh feels more "balanced" demographically...
Many good responses, thanks everyone! More welcome of course...
In all honesty, this is a dead horse that has been beaten too many times. Whatever questions you might have, you'll probably find the answers in the following thread. //www.city-data.com/forum/north...-barred-2.html
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Charlotte vs Raleigh
