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The economy is bouncing back from COVID-19 faster, stronger than expected, data shows

Jobless claims actually fell short of what was expected. It means more and more people are going back to work this fall heading into the holiday shopping season.

CHARLOTTE, N.C. — New data shows the American economy is coming back from the COVID-19 pandemic stronger and faster than anticipated. 

Jobs are also coming back quickly. Jobless claims for the week of October 24 were 751,000, lower than expectations, which is good news. They're also down 40,000 from the week before, which means people are going back to work. 

“The last three weeks we have seen more jobs than we saw since COVID started in March” said Sue Johnson, President of TalentBridge Network, which connects businesses with job seekers.

“So I would say nationally, it’s pretty consistent across the board.  Charlotte is a great market, but there are other markets that are just as strong” said Heide Bray, VP of National Delivery for TalentBridge Network. 

So what industries are hiring? Anything customer service related and anything in shipping, moving goods from one place to another.  Those industries remain strong with Amazon leading the way

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Just this week, three companies announced plans to relocate or expand in the Charlotte market.

Lightstone, a real estate company bought a distribution center in Charlotte to expand. 

“With our acquisition of the Lightstone Logistics Center, we are continuing our expansion in logistics and e-commerce across the country,” said Mitchell Hochberg, President of Lightstone. “Our strategy is to increase our industrial platform and look for investments in growing markets where we feel we can achieve substantial risk-adjusted returns over a long-term hold.”

Credit: Lightstone

Continental Tire the Americas, which says it makes premium tires, invested $20 million in their Lancaster County South Carolina operation with plans to expand.

“Lancaster County has been home to our tire operations for the Americas Region since 2009. We are excited to invest in our campus and bring our team together in a new, fresh space that includes modern features and design to support the future work environment," said Continental Tire the Americas Chief Executive Officer Dr. Jochen Etzel.

And the Eastern Wholesale Fence company, LLC, chose Rowan County to expand. Eastern Fence said they plan to add 142 jobs over four years for manufacturing and distribution. It’s a $17.5 million investment in equipment and facility upgrades.

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So, if you still need work, and many do, re-invent yourself and get comfortable with remote working and zoom interviews. People are hiring and the numbers and data prove it.

“Don’t sit back and wait, be aggressive, more so than you normally would be” said Bray with TalentBridge Network.

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