NC Budget and Tax Center

North Carolina’s job creation struggles to keep up

Last week’s report that North Carolina’s unemployment rate increased to 9.6 percent last month is just the tip of the iceberg. Not only has the state’s labor market struggled over the past three years to replace all the jobs lost to the Great Recession, the rate of job creation is being outpaced by population growth, driving North Carolina’s jobs deficit higher last month.  See this week’s Prosperity Watch for details.

5 Comments

  1. Alex

    August 22, 2012 at 7:37 pm

    Grim economic report issued by the CBO today ! This is not a pretty picture.

  2. david esmay

    August 23, 2012 at 8:42 am

    Republican policies in action!

  3. Alex

    August 23, 2012 at 1:35 pm

    Duh ……david ! Who’s supposed to be in charge now ?

  4. david esmay

    August 23, 2012 at 3:27 pm

    Duh… Alex! The GOP controls the NC GA.

  5. Allan Freyer

    August 23, 2012 at 3:56 pm

    It may be difficult to pin North Carolina’s growing jobs deficit on national-level macro-economic policy, given that the state is lagging significantly behind the rest of the nation in terms of employment growth. See the BTC brief on this subject here: http://www.ncjustice.org/?q=budget-and-tax/btc-brief-greater-fall-tougher-climb-north-carolina-struggles-replace-jobs-lost-great

    Also note that the CBO report that Alex mentions does not focus on current economic conditions, but rather analyzes the likely economic impacts of the sequester and expiration of Bush- and Obama-era tax cuts (in their entirety) in the first half of 2013. If Congress and President and Obama wish to avoid these impacts, they just need to come to an agreement over the details of how to a) eliminate the sequester, and b) extend the tax cuts.

    And it’s also worth remembering why exactly we have a sequester in the first place, and why the tax cuts have sunsets.