The Charlotte Regional Business Alliance’s Economic Indicators Dashboard is a tool initially created by a joint collaboration between the CLT Alliance Economic Research Team and a coalition of local researchers. Formed during the pandemic, the dashboard measures economic impact and recovery trends.
As the economy now experiences significant fluctuations caused by new economic drivers, this revamped tool serves as an essential source of information for the business community, public and nonprofit organizations, as well as individuals seeking information on the economic performance of our region.
The Economic Indicators Dashboard covers six key areas in determining regional economic health and vibrancy:
- Employment
- Unemployment
- Job Postings
- Consumer Confidence
- Real Estate
- Tourism and Air Travel
Through these six key indicators, many key questions can be answered including, but not limited to: What is the trajectory for economic recovery after the pandemic? What is the current state of employment across key industries? Where does inflation stand? Such key questions will contribute to laying the groundwork in positioning the Charlotte Region as a premier destination for business.
The Charlotte Region has seen significant growth since the onset of the pandemic in 2020. The region is now facing its own set of new and unprecedented challenges as it heads into 2023. Factors like inflation, supply chain strains, and more will test the resiliency of the region going forward.
The region has seen employment growth for 12 consecutive months, routinely outperforming North and South Carolina and the U.S. However, signs of economic contraction are on the horizon.
Despite recession concerns, there remains cause for optimism in the Charlotte Region. On the real estate front, vacancy rates in quarter three were lower when compared to the end of 2021. The Charlotte Region continues to be an attractive destination for firms looking to do business. Furthermore, hotel occupancy rates and enplanements proved strong in 2022.
A key pillar of the Charlotte Regional Business Alliance® is to grow the economy. Through the first three quarters of 2022 that mission was further realized. The region saw 45 announced projects, nearly 6,000 announced jobs, and more than $2.5 billion in capital investment.
Tracking these key economic indicators will further assist economic development leaders in growing the economy through an understanding of needs brought on by current economic conditions.
The Charlotte Regional Business Alliance® Economic Indicators dashboard will be updated monthly in 2023, accompanied by an analytical blog post of the data. The CLT Alliance research team will share important trends as they emerge in relation to their effect on the regional economy.
A live look at the complete and most up-to-date Economic Indicators Dashboard can be found here. And for more insight, please visit the Charlotte Regional Business Alliance’s Get the Data webpage.
