About how the Charlotte economy is going to suffer for some time to come:
“The recovery will take considerable time to build momentum,” said Mark Vitner, senior economist at Wachovia. With unemployment not expected to drop below 10 percent until late 2012 and 7 percent in 2014, Vitner called his latest outlook “very sobering.”
Unemployment regionally projected to be above 10 percent for another 3 1/2 years? Ouch.
