The N.C. economy has begun its long, slow turnaround, but it could take years before job and spending figures bounce back to the levels of better times, a UNC Charlotte economist said Thursday.
John Connaughton’s projections, delivered in front of a packed room at UNC Charlotte uptown, were part of his quarterly economic report. He predicted that next year, the state’s economy will grow 2.8 percent, following this year’s 3.6 percent decline.
“After about six of these (quarterly reports) in a row … we now have some good things to talk about,” Connaughton said.
North Carolina lost about 124,000 jobs in 2009 due to major cuts in the construction, mining and finance sectors, he said. The state’s unemployment rate has climbed to 11 percent, higher than the national average and up from 9.7 percent as the year began.
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