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Jobs recovery still mostly out of reach in many NC metros

jobseconomy [1]This is new from the experts at the N.C. Budget and Tax Center:

Labor force decline still driving drop in unemployment for many metro areas

RALEIGH (April 29, 2014) — Despite falling unemployment rates, most of North Carolina’s metro areas are still waiting for meaningful job creation, according to new jobless numbers released by the Division of Employment Security this morning. Nine out of the state’s 14 metros saw weaker job creation over the last year than they did over the same period in previous years. In 7 of 14 of the state’s metro areas, the drop in the unemployment rate between March 2013 and March 2014 was driven by a shrinking labor force and not by large-scale employment growth.

“Too many of North Carolina’s metro areas are waiting for a jobs recovery. The labor force is continuing to shrink and job creation remains anemic across the state,” said Allan Freyer, Public Policy Analyst with the Budget & Tax Center, a project of the NC Justice Center. “If we were truly seeing a robust recovery, every metro area would be creating more jobs each year than they did the year before, but this is just not the case. Too many metros have yet to recover the jobs they lost during the recession.”

Several examples include:

The data released by the Division of Employment Security is subject to revision and should be interpreted with great caution.