MONITORING THE ECONOMIC PULSE OF THE TRIAD | BY JORDANGREEN
Triad employment picture remains sluggish
Unemployment rates rose in all but one metro area in May, according to a report released by the state’s Labor and Economic Analysis Division, while over-the-year changes in unemployment continue to trend downwards in almost all of North Carolina’s cities. Unemployment rose from 8.5 percent to 8.9 percent from April to May in Winston- Salem, and from 9.4 percent to 9.7 percent in the Greensboro-High Point metro area.
Economists tend to focus on over-the-year changes rather than monthly changes because of seasonal fluctuations in employment.
John Quinterno, an economist with South by North Strategies, said any meaningful recovery will hinge on the state’s three major urban regions.
“Although local unemployment rates fell across much of the state over the past year, local labor markets remain far from healthy,” Quinterno said. “Unemployment rates remain elevated, and sizable numbers of North Carolinians remain jobless. The past year has witnessed noticeable drops in the sizes of local labor forces — drops that suggest that unemployment rates are declining due to people leaving the labor force rather than obtaining jobs.”
Life insurance company opens High Point office
New York Life Insurance Co. opened a new office in High Point last week. Located at 816 N. Elm St., the office will accommodate three agents, along with administrative support staff. The company expressed pride in joining the city’s business community, serving local customers and contributing to “the area’s economic and civic vibrancy.”
Clothing store interv iews for job openings
Altar’d State, a retail-clothing store slated to open this summer at Friendly Center in Greensboro, holds open employment interviews on Wednesday and Thursday at the Auditorium, located at 3110 Kathleen Ave. The company seeks energetic people with retail experience who have a desire to give back to their communities.
Urban market crops up in High Point on Saturday
The Uptowne Market offers fresh produce and art among other retail items on Saturday from 8 a.m. to 1 p.m. The market is located at 819 N. Main St. in High Point. Call 336.207.6216 for more information.