Charlotte, North Carolina - The Economy is Booming

Post a job now and SAVE $55

The biggest city in the US state of North Carolina would be Charlotte – which incidentally is also the 20th biggest city in the country. Charlotte also has the distinction of posting the fastest economic growth rates in the US East Coast, with economic growth that allows the city to rank as the fifth among major US cities with the fastest economic growth rates.

Under the Charlotte MSA jurisdiction, the 2006 population may have grown up to the level of 1,583,016 Charlotteans (the official term for a Charlotte resident.) Its fast population growth has helped Charlotte, NC, rank as the seventh-top area among US areas that posed the fastest population-growth rates (including only areas that have at least 1 million residents.) Charlotte gained this ranking because it posted a 14.6% population change between years 2000 to 2006.

Among Southern US cities (which have a population ranging from 400,000 to 1,000,000), Charlotte is considered the city with the lowest cost of living all-items index stats, with a total score of just 88.2. Thus, Charlotte made it to the #1 slot on that list, as of the 2nd Quarter of 2007.

On the other hand, the Bureau of Labor Statistics noted that the average wage for all Charlotte occupations stood at US$39,710 (according to its area wage and salary survey for 2007.) Entry level wage for a chemical process operator (level 1) was posted at US$14.20 while the median wage was listed at $16.46. A CNC/NC machining center operator stands to earn US$16.82 as entry level wages while the median wage equals US$18.43. An extruder operator can earn entry level wages of US$13.50 with median wage set at US$14.41. There is no entry level wage for a filler, just a median wage set at US$11.85. For the position of injection/molding operator, one can earn US$12.10 in entry level wages, with the median wage posted at US$14.11.

Various corporations have seen the business of Charlotte to be conducive enough for their business that nine out of the 500 biggest companies in the US have chosen to establish their headquarters in the city (based on data from FORTUNE magazine.) At present, Charlotte is also home to 931 companies that earn more than $10 million in annual revenues, and another 22 companies that rake in over $1 billion in sales revenues. Out of those 931, 420 have chosen Charlotte as the base for their headquarters.

A major factor behind the expansion of the city is the inward migration of individuals from other places, believed to be lured to Charlotte by the higher quality of life offered in the city. Of those currently employed, Charlotte data from the University of North Carolina shows that 30% of their numbers think that they are underemployed. These people who perceive that they are underemployed may possibly be hired for new jobs created later on. Other Charlotte data reveals that 38% of employees in the 18-34 age bracket believe that they too are underemployed; and another 29% of people who had some college training also think they are underemployed.

So consider expansion into Charlotte, NC, if you want to take advantage of the booming economy in that city. You may not find a lot of other cities who can present such a great option to you around.

Post a job now and SAVE $55

Article Custom Written/compiled for Job Service Help by Mabelle Sese of The Filipino Worker Company. Updated October 22, 2007