The August labor market data released this morning show North Carolina is failing to hit key markers of a strong economic recovery.
The unemployment rate remained steady at 5.9 percent in August, 0.1 percentage points below where the state unemployment rate was one year ago. The state experienced a slower decline than the nation, with a 0.4 percentage point drop.
Importantly, the unemployment rate does not capture the people remaining outside of the labor market due to a lack of employment opportunities. The state’s unemployment rate would be higher than 10 percent if one considers these missing workers.
A deeper assessment of the labor market trends beyond the unemployment rate in the August data include: Read more