Signs are accumulating that the national economy, and
particularly the real estate market, may be bottoming out. But
things are still tough all over, and coastal markets are no
exception. North Carolina coastal counties are experiencing
uncharacteristically high unemployment rates, the Hampton
Roads, Virginia, Virginian-Pilot reported in early January
("
Unemployment rises sharply in coastal N.C.," by Jeff
Hampton).
Employment in the Carolina Outer Banks is always subject to
seasonal rises and falls, with the slack time occurring in
winter. "But in this economy, unemployment was worse this
summer than it was in the winter a few years ago," reports the
Virginian-Pilot. Winter rates are now hitting painful highs: In
Dare County, unemployment this month is at 11%, up from 8.6% in
October.