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Weak job growth slows down recovery across many North Carolina metros
Posted By Allan Freyer On May 28, 2014 @ 1:40 pm In NC Budget and Tax Center | Comments Disabled
An important measure of a positive jobs report is whether progress is being made in creating enough jobs to recover all the jobs that were lost during the Great Recession. By this measure, however, today’s jobs report  from the Division of Employment Security reveals that too many of the state’s metro areas are falling behind.
Despite falling unemployment rates, most of North Carolina’s metro areas are not creating jobs fast enough to fill this jobs hole. Five years into the current recovery, ten out of the state’s 14 metro areas have yet to reclaim the jobs lost during the recession, and it will take six of them more than a decade to create enough jobs to return to pre-recession levels at the current rate of employment growth. In one metro—Rocky Mount—it will take almost a century to get back to pre-recession employment levels at the current pace of job creation.
As long as some metros continue to lag behind, the state’s overall economic recovery will continue to struggle, despite a falling unemployment rate.
Follow me below the fold for a summary of each metro’s job creation record over the last year:
We are just not seeing robust job creation across the entire state. Five years into the current recovery, only a handful of metros are creating jobs fast enough to completely replace to the jobs they lost during the Great Recession.
Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org
URL to article: http://pulse.ncpolicywatch.org/2014/05/28/weak-job-growth-slows-down-recovery-across-many-north-carolina-metros/
URLs in this post:
 today’s jobs report: http://www.ncesc1.com/PMI/rates/ratesmain.asp#county
 North Carolina’s counties remain in poverty’s tight grip : http://pulse.ncpolicywatch.org/2014/09/23/north-carolinas-counties-remain-in-povertys-tight-grip-2/
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