Answered

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How have banking and finance affected the economy of North Carolina

Sagot :

SmartJosh

Answer:

  • Employment opportunities in banking and finance have increased.
  • Since the 1990s, wages for banking and finance employees have doubled.

Explanation:

North Carolina has a rich history in the financial industry, The development of the state’s banking capital can be outlined to several advantages, some of which were structural and some of which were the results of the actions of individual firms.

The banking and finance business remains an important segment of North Carolina's economy, showing a steady increase in the number of corporations, employment, and earnings figures from 1992 to 2002.

The banking and finance industry remains a significant component of North Carolina's economy, posting consistent growth in the number of establishments, employment and wage figures from 1992 to 2002 and then from 2002 to 2012.

A number of businesses closed.

Bank runs resulted in bank closures.

Many workers lost their jobs.

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Answer:

The banking and finance industry in North Carolina has experienced a skyrocketing growth rate in the last decade, growing by 25.5% since 2002 and at an average of more than 9% per year since 1997.

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