Charlotte, NC Job Trends

As you know, we must seek information to assist us in our efforts to rebrand and reinvent in 2010. We should also not concentrate on national data but focus on local markets or metro areas. In this economy, it is rare to see a metro area mirror the national averages. Remember not to compare data on month to month or year to year. This analysis and subsequent reporting provides a false sense of reality.

It is troublesome to me that experts are given a national forum to espouse their opinions on what may happen with the economy. The experts are typically wrong in their forecasting. Thus it is important to analyze local conditions and evaluate trends. Based on the analysis, your rebranding and reinventing should dynamically change and be proactive rather than reactive. As an example, the unemployment rate in Charlotte, NC over the past 6-months has been:

September ’09             11.8%
October                       12.0%
November                    11.9%
December                    12.1%
January ’10                  12.8%
February                      12.8%

This is a trend. And this percentage is low. I also believe the first time home buyer federal credit initiative has run its course. In my opinion, the local market is going to drop off the table due to an increase in foreclosures, higher unemployment, and mortgage rates on the increase. It is time to rebrand and reinvent based on these trends – at least in Charlotte. If you are in California, it has been reported that 50% of all existing homes sold last year were short sales. What about your market? I heard today, if you can't flee it, can't fight it, then go with the flow. Your business plan should be dynamic matching trends.