The Economic Perspective: “Under the Hood of North Carolina’s Economic Rebound”

Mary:  This is Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program goes under the hood of North Carolina’s economic rebound. Mike, like most states, North Carolina’s economy had been improving in recent months since being absolutely devastated in April. Please give us some details of the gains.

 

Mike:  Summary Answer

  • Consumer spending down 35% in April from March, now down 12%
  • Grocery sales are actually up; entertainment spending still down 60%
  • But rent payments made by first week of the month continue to trend downward – likely due to reduction of extra unemployment compensation
  • Almost 270,000 more jobs in August than April, but still 350,000 less than in February
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics