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Missing Workers, NC Budget and Tax Center, Uncategorized

The official unemployment rate ticked up in August to 6.8 percent but if you count those missing workers who would be in the labor market if job opportunities were stronger that rate would be 12. 6 percent.

Our update to the number of missing workers in North Carolina reflects the ongoing challenge for workers when there are too few jobs for those who want to work. It also demonstrates the failure of the unemployment rate alone to tell the story of what is happening in the state’s labor market.

The number of missing workers at Missing Workers August 2014the state level is calculated based on expected labor force participation rates while accounting for demographic trends like an aging population. As an indicator, the number of missing workers and an unemployment rate that accounts for them provides information about how far the current labor market is from meeting all the needs of workers in the economy.

North Carolina’s recovery will continue to struggle to deliver benefits broadly as long as so many workers remain missing from the labor force because there are too few jobs.

 

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The McCrory administration is looking to bolster North Carolina’s economy as it undergoes major changes in how it will recruit new employers to the state.

In a final meeting for the state’s economic development board, N.C. Commerce Sec. Sharon Decker told members Wednesday that she’s hoping to figure out a way to continue to attract businesses, even as the legislature declined to fund some of her priorities.

The state legislature ended its session earlier this month without funding a $20 million “closing fund” that Decker and Gov. Pat McCrory had asked for. But it did give its blessing to moving the state’s marketing and recruiting efforts to a public-private partnership, a setup that has had mixed results in other states.

The board for the new public-private economic development partnership is expected to meet this afternoon. The group hopes to be operational by early October.

State lawmakers also let a tax credit program for the film industry, which offered credits of approximately 25 cents for every $1 spent on big projects, to sunset at the end of the year. Lawmakers instead allocated $10 million for a modified grant program.

Decker said Wednesday that she’s already heard that several shows and film projects may be backing out of North Carolina because of the changes.

“The risk is significant,” Decker said, about the possibility of losing North Carolina film jobs.

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These come from a recent University of California Alumni Association profile of economist Emmanuel Saez and his work that was linked to by the excellent online newsletter Too Much:

The top 1 percenters in the United States, for example, have seen their share of national income rise from under 8 percent in 1970 to just under 20 percent in 2010. A similar pattern is seen in Canada, which also adopted the same esprit de laissez-faire that made Reaganomics the hallmark of United States fiscal policy in the 1980s.

In contrast, over the same period, the top 1 percenters in Japan saw their share of national income inch up from 8 to 9.5 percent. French and Swedish plutocrats were similarly deprived. (Emphasis supplied).

Meanwhile, check out the following amazing graph of Census data that also comes from the folks at Too Much: Read More

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In case you missed it, North Carolina is about to release yet another person who spent two decades in state prison for crimes he did not commit — thus further highlighting the absurdity of the death penalty in the 21st Century. This is from a post on the N.C. Innocence Project blog:

On Monday, a Superior Court judge in North Carolina dismissed all charges and vacated the convictions of Michael Parker who was convicted of multiple sex crimes against his three children. Parker spent more than 20 years behind bars and is expected to be released from Craggy Correctional Center today.

In January 1994, Parker was convicted of eight counts of first-degree sex offense and four counts of taking indecent liberties with a minor. He was sentenced to eight consecutive terms of life imprisonment for the first-degree sex offenses and an additional 40 years on the indecent liberties convictions.

Asheville attorney Sean Devereux brought the case to the Duke Law School Wrongful Conviction Clinic in 2011, about a decade after he was approached by Parker. Devereux told the Citizen-Times that Parker was convicted during the satanic ritual abuse frenzy of the late 1980s and early 1990s. According to the Citizen-Times, Devereux said that not a single one of those satanic ritual sexual abuse accusations has proven to be true. He said that all of the defendants have seen their convictions overturned.

According to the judge’s ruling, advances in child medical examinations and forensic interviewing techniques warranted granting Parker’s petition for relief and that most of the evidence presented at trial was unreliable. The motion also listed ineffective assistance of trial counsel and recantation of one of the children’s testimony, among other vital factors to grant relief.

Devereux said that last year Parker was offered a deal to plead guilty, which would have vacated his convictions and allowed him to leave prison based on time served, but Parker refused to take the deal.

Click here to read more details on the Asheville Citizen-Times website.