Military community faring better than most in this tough economy

After a volatile day on Wall Street, our weakening economy is certainly something people are talking about, at the dinner table or the water cooler.

By: by Laura Vesco | WNCT-On Your Side
Published: October 07, 2008

After a volatile day on Wall Street, our weakening economy is certainly something people are talking about, at the dinner table or the water cooler.

No one knows for sure, just how the situation will impact them. But at least those in the military community are a step ahead of the rest.

"We are fortunate to have the military base [in Jacksonvill]. They kind of moderate any sort of wild fluctuations in the economy,” said Ralph Leeds, with the North Carolina Employment Commission.

Thanks to our marines and sailors, Leeds says, Onslow County isn't in a bind like other places. That's mainly because our marines jobs are secure.

Marvin Ketchum, manager of Park ‘N Pawn, says our active marine corps helps keep their shop afloat.

When marines deploy, they sell all their belongings. When they come home, they buy everything they need.

But Ketchum has noticed some customers affected by the economy.

Ketchum says he has noticed many private construction workers affected by the slowing economy because there aren't any jobs for them. They pawn their tools for some extra cash.

And even though the military keeps Onslow County going, military families aren't going untouched by the economic downfall.

"We have noticed that some of the military spouses that are arriving in the area are having a more difficult time finding work,” Leeds said.

He adds, that’s because employers are simply holding off on hiring, hoping our lagging economy will soon stabalize.

Leeds said despite the unemployment rate their office is still able to offer a variety of jobs.