Greensboro continues to struggle
with the ongoing ramifications of the national recession
particularly regarding the region’s significant job losses
and high poverty rate.
"...one in five people live in poverty;
and median earnings and per capita income have declined significantly.
A 2010 poverty rate that remained painfully high at 20.1 percent...
...for a family of four with two children under the age of 18,
the household is considered poor
if total household income is below $22,113 in 2010.
...county tax base that remained stagnant,
increasing a modest 0.5 percent from $36.6 billion in 2009-2010
to $36.8 billion in 2010-2011...
MEDIAN EARNINGS AND PER CAPITA INCOME DECLINED MARKEDLY
Per capita income levels continued a three-year decline
from a high of $25,560 in 2008 to $23,832 in 2010.
"...The substantive decline in dividend investment capital
due to the financial crisis and national recession of the late 2000s
may have negatively impacted per capita income."
From 2009 to 2010,
Greensboro [-4.6%] experienced the second most significant decline
in per capita income relative to Charlotte (-7.6%),
Durham (-2.5%), Raleigh (-2.5%), and Winston Salem (+3.6%).
Median earnings that fell to less than $24,000 in 2010,
a drop of 8.6 percent...
"...median earnings in Greensboro declined significantly (-8.6%)
from $26,205 in 2009 to $23,953 in 2010
– the lowest median earnings
since ...the Survey began reporting Greensboro data back in 2005.
Retail jobs on the whole paid poorly
offering an average wage of just $25,933 in 2009 and $26,491 in 2010.
Only the arts and entertainment/accommodation and food industry
generated lower average wage rates.
That compares to increases of 3.7 percent in Winston-Salem
and 2.6 percent in Charlotte...
Donald W. Patterson
TRANSPORTATION LOGISTICS CONTINUES TO LOSE MARKET SHARE...
...the transportation-related industry continues to lose market share
in terms of the percentage of jobs generated.
the percentage of all jobs in this industry noticeably decreased
from a 4.8% share of the market in 2009 to 3.4% in 2010.
this represents the second largest relative decline
of any industry in Greensboro for the same time period.
...the proportion of the population that is 65 years of age or older
has continued to rise from 11.4% in 2007 to 12.2% in 2010.
...as the population of a city ages,
there will be a much greater demand for medical services
which can lead to significant demands on scarce public resources...
Such a trend poses major human resource challenges
for both public and private sector employers in the city.
...growth in the County tax base has begun to stagnate in recent years.
Homeownership in Greensboro decreased
from 54.1% of the housing stock in owner-occupied units in 2009
to 53.4% in 2010 – a decline of 0.7 percentage points.