Charlotte, NC, February 7, 2026
Charlotte, NC is witnessing significant economic changes, including layoffs and growth in the entrepreneurial sector. While recent layoffs highlight challenges, the city’s diverse business landscape and strong GDP growth showcase resilience and adaptability. Local small businesses reveal a positive outlook, making contributions to job creation. Community initiatives aimed at workforce development are also crucial as North Carolina projects substantial job growth in the coming years. Charlotte remains an embodiment of opportunity, encouraging innovation amidst economic fluctuations.
Charlotte, NC
Charlotte’s Evolving Workforce: Navigating Economic Shifts
Recent news of corporate adjustments in North Carolina brings the evolving nature of our economy into focus. While challenging for those directly affected, such shifts also highlight the enduring strength of Charlotte NC business and the resilience fueled by our city’s entrepreneurial spirit and diverse economic landscape. This is a moment to appreciate the adaptability that defines our local economy and the role of innovation in sustaining growth.
The ability of a community to absorb and adapt to economic changes speaks volumes about its underlying vitality. Charlotte has long been a beacon of opportunity, a place where individuals and businesses strive for personal achievement and contribute to collective prosperity. These moments underscore the critical importance of a dynamic market that, while sometimes requiring difficult corporate decisions, simultaneously fosters new ventures and opportunities for North Carolina entrepreneurs.
Understanding Corporate Adjustments in North Carolina
A major bank is planning to lay off 112 workers in North Carolina. Such decisions are a facet of the ongoing adaptation within the corporate sector, often reflecting broader strategies to respond to market demands or technological advancements. These specific workforce adjustments, while impactful for the individuals involved, represent a localized event within the larger, continually evolving North Carolina job market. In the first five months of this year, 27 businesses announced layoffs, resulting in the loss of 2,678 jobs in North Carolina. However, only four of these layoffs involved more than 300 workers. Overall, North Carolina had slightly more than 5.1 million employed workers in April, a decrease of 10,602 from the previous year. Despite this, the unemployment rate in North Carolina has remained below 4% since December 2021, closing April at 3.4%.
The Strength of Charlotte’s Economic Landscape
Charlotte’s economy demonstrates considerable robustness and diversification. Between 2022 and 2023, the real Gross Domestic Product (GDP) for the Charlotte Metropolitan Statistical Area (MSA) increased by 4.7 percent, a growth rate higher than that of the state and the nation, which grew at 3.0 percent and 2.9 percent respectively over the same period. The Charlotte MSA also saw nonfarm employment increase by 2.8 percent in July 2025, accounting for approximately 44.3 percent of the state’s total job growth in the preceding 12 months. From 2019 to 2023, Charlotte ranked 10th among large U.S. cities for economic growth, experiencing a 38% GDP surge and a 1% drop in unemployment, one of the largest decreases nationally. The Charlotte region continues to be an attractive destination for firms, with 45 announced projects, nearly 6,000 announced jobs, and more than $2.5 billion in capital investment through the first three quarters of 2022.
Entrepreneurship and Small Business Resilience
The spirit of entrepreneurship is a cornerstone of Charlotte’s economic strength. Local Charlotte small business owners exhibit a strong sense of optimism and growth. Surveys from the second half of 2023 indicated that 85% of business owners expected revenue to continue rising in 2024, projecting an average growth of 7.65%. Furthermore, 80% of these businesses planned to hire in 2025, particularly for roles in customer service, sales, business development, and marketing. In Charlotte, 95% of small business owners reported growth over the past year, compared to 73% of owners nationwide, and 99% in the Queen City felt optimistic about the future, against 87% nationally. This demonstrates the significant role small businesses play as engines for job creation and economic stability, particularly as the broader economy navigates various shifts.
Fostering a Pro-Growth Environment
A business-friendly environment is crucial for sustained economic growth and job creation. North Carolina has been attractive to investors due to its low tax rates, stable regulatory environment, and growing population. These factors encourage private investment and allow businesses, both large and small, to thrive and expand. This supportive ecosystem empowers North Carolina entrepreneurs to innovate and take calculated risks, contributing to the region’s economic dynamism. Streamlined regulations and policies that reduce barriers to entry and operation can further amplify the capacity of businesses to generate employment opportunities and drive prosperity.
Community Support and Workforce Development
In times of corporate restructuring, the Charlotte community’s commitment to its workforce becomes especially important. Programs and initiatives focused on skill development and job placement are vital in helping individuals transition to new opportunities. For instance, between 2022 and 2032, North Carolina is projected to add over 500,000 jobs, a 10% increase in total employment, with an average annual growth rate of about 0.96%. The state is forecast to add 80,800 net jobs in 2026, with all 14 nonagricultural sectors expected to see job growth. This indicates a strong pipeline of future employment, and investing in workforce development ensures that individuals possess the skills needed for these emerging roles, reinforcing the overall strength of the Charlotte NC business landscape.
Charlotte’s fundamental economic strength and dynamic entrepreneurial spirit position it well to navigate changes and continue its trajectory of growth. While corporate adjustments are a natural part of a responsive economy, the city’s diverse sectors and resilient small businesses provide a robust foundation. We encourage all residents to support our local businesses and remain engaged in fostering a vibrant and prosperous future for our community. This collective effort ensures that Charlotte continues to be a place where innovation, opportunity, and personal achievement flourish.
Frequently Asked Questions
How many workers is a major bank planning to lay off in North Carolina?
A major bank is planning to lay off 112 workers in North Carolina.
What was the real GDP growth rate for the Charlotte Metropolitan Statistical Area between 2022 and 2023?
Between 2022 and 2023, the real Gross Domestic Product (GDP) for the Charlotte Metropolitan Statistical Area (MSA) increased by 4.7 percent.
What is the projected job growth for North Carolina between 2022 and 2032?
Between 2022 and 2032, North Carolina is projected to add over 500,000 jobs, a 10% increase in total employment.
What percentage of Charlotte small business owners expected revenue to rise in 2024?
In surveys from the second half of 2023, 85% of Charlotte small business owners expected revenue to continue rising in 2024, projecting an average growth of 7.65%.
What is North Carolina’s forecast for net job additions in 2026?
North Carolina is forecast to add 80,800 net jobs in 2026, with all 14 nonagricultural sectors expected to see job growth.
Key Economic Features of Charlotte and North Carolina
| Feature | Detail | Scope |
|---|---|---|
| Planned Bank Layoffs | 112 workers by a major bank | State-level |
| Charlotte MSA Real GDP Growth (2022-2023) | 4.7% increase, higher than state and nation | Local |
| Projected NC Job Growth (2022-2032) | Over 500,000 new jobs (10% increase) | State-level |
| Charlotte Small Business Revenue Outlook (2024) | 85% of owners expected revenue to rise (avg. 7.65%) | Local |
| North Carolina Net Job Additions Forecast (2026) | 80,800 net jobs across all 14 nonagricultural sectors | State-level |
| North Carolina Unemployment Rate (April) | 3.4% (below 4% since Dec 2021) | State-level |
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Author: HERE Charlotte
The CHARLOTTE STAFF WRITER represents the experienced team at HERECharlotte.com, your go-to source for actionable local news and information in Charlotte, Mecklenburg County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Lovin' Life Music Festival, Charlotte Pride festival, and major sporting tournaments at Bank of America Stadium. Our coverage extends to key organizations like the Charlotte Regional Business Alliance and Foundation for the Carolinas, plus leading businesses in finance and entertainment that power the local economy such as Bank of America and NASCAR. As part of the broader HERE network, including HEREAsheville.com, HEREGreensboro.com, HERERaleigh.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
