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State unemployment rate ticks back up

Trickledown economic theory and the three years of state budget and tax cuts to which it has given rise continues to work wonders for the North Carolina economy…not.

This just in from the state Department of Commerce:

“RALEIGH — The state’s seasonally adjusted July unemployment rate was 8.9 percent, increasing 0.1 of a percentage point from June’s revised rate. The national rate declined to 7.4 percent from June’s 7.6 percent.”

Of course, in fairness, the notion that state policies can have any kind of significant near-term impact on the overall employment rate is as misplaced now as it was when conservatives were lambasting the Perdue administration. Save for the actual jobs it creates through public employment, the main impact state leaders can have is on: a) the long-term picture (where investments in education and infrastructure are key) and b) easing the suffering of the jobless and their families.

That said, the performance of conservative state leaders in both of these latter two areas has been truly abysmal so prospects seem likely to remain relatively dim for the foreseeable future.

 

6 Comments

  1. Alex

    August 19, 2013 at 1:05 pm

    Obama is now into his fifth year of trickle down economics which is extraordinarily funny because they always blame the Republicans for this economic theory. During Obama’s tenure, the ultra rich have gotten much richer, and the rich have made out like bandits while the middle class has fallen significantly and the poor have gotten much poorer. He’s put a third of the country on food assistance, and the only job growth has been low paid part-time positions. I call the whole thing an “unrecovery”, and it has been an unmitigated disaster that will get no better as time goes on. States will also do no better than the national economy which is completely stagnant. At the end of 2016, things will be no better than they are now, and we’ll be over $20 trillion in debt. It’s just the way it is folks

  2. Kdog WNC

    August 19, 2013 at 1:46 pm

    To Alex – it should be noted that unemployment nationwide is indeed falling, while the article is about unemployment in North Carolina on the rise. For that, we can thank the Radical Republicans who took over Raleigh and have focused on everything from vaginas to voters to teachers, while completely ignoring jobs.

  3. david esmay

    August 19, 2013 at 5:48 pm

    Funny Alex, only the Red southern states, with the exception of New Mexico are suffering high unemployment, and they are carrying the highest credit card debt, lowest spending on education, and take in far more federal dollars than they contribute to support retrogressive right-wing ideology.

  4. Alex

    August 19, 2013 at 6:29 pm

    There are 12 million people unemployed in this country , and I don’t think they’re all in the Red states david. We have the lowest percentage of people working in this country in our history. Clinton and the Unions destroyed manufacturing in this country with NAFTA, and NC has never recovered.

  5. david esmay

    August 19, 2013 at 7:51 pm

    Wrong, real wages peaked in 1973, and nosed dived once Reagan took office. Corporate greed destroyed manufacturing in this country, unions make up a small percentage of the work force. Labor comprises just 7% of the cost of manufacturing, so labor isn’t the problem. Where manufacturing goes, so does the high tech/ design and engineering and small businesses that supported the 60,000 factories that closed during the Bush administration.

    Over 80% of my business is tied manufacturing and we’ve been busy, over seas labor cost are rising while the quality is below what is produced in the U.S.. A lot of those jobs are moving back because of this, I’m busier now than I have been since 2007.

  6. Alex

    August 20, 2013 at 7:50 am

    As usual david , your numbers are completely wrong. The rise in middle class income was one of the largest in our history during the Reagan years, and 26 million jobs were created.We’ve lost at least 6 million manufacturing jobs since NAFTA , and very few have ever come back. You really need to go back and check your facts.