Economist: Charlotte's job outlook, economy should improve in 2012
CHARLOTTE, N.C. —
Economists say 2012 should be a better year for Charlotte's economy.
Mark Vitner, Managing Director and Senior Economist at Wells Fargo, said the Charlotte area should gain around 12,000 jobs this year. The gain is due in part because of major announcements made last year about businesses relocating or expanding here, including Chiquita, Electrolux, and Time Warner Cable.
The Democratic National Convention also helps.
Vitner said it will not bring a large number of jobs for the convention itself, but it will bring plenty of attention.
"I think it has gotten Charlotte's name out in the national media a lot. That helps in recruiting new businesses to town and we haven't even held the convention yet," Vitner said.
At the Employment Security Commission there was a line of people looking for work. The economic outlook sounds like good news for many there, but so far the jobs are not materializing as fast as they want.
Claudia Thorne and her husband are unemployed, searching for jobs as they raise their two kids, and they are not having much luck. Thorne, who was a server in the hotel industry, rarely hears back from potential employers.
"They don't call me because there's so many people looking for a job, so it's hard because bills never stop," she said.
Vitner said while the outlook for this year is improving, it will still be a long time before the unemployment rate gets better.
The rate in Charlotte is around 10 percent, about twice what it should be.