Another month, another underwhelming jobs report for North Carolina. The Tar Heel state created fewer jobs and saw a smaller percentage of unemployed workers find employment than the rest of the nation over the last year, according to the February jobs report released by Division of Employment Security this morning.
The numbers tell a clear story: 2013 was a rough year for the state’s labor market. While the state saw its payrolls expand by 65,000 new jobs (1.6 percent) since March 2013, this represents slower job growth than the 1.7 percent rate of job creation in the nation as a whole. Even more troubling, this represents a reversal from the previous year (March 2012 to March 2013), during which North Carolina outpaced the nation in job creation 1.6 percent to 1.5 percent.
Not only did North Carolina underperform the rest of the nation over the last year, the state’s performance in 2013 stacks up poorly compared to its performance in previous years. Over the past year (March 2013-2014), the state created 200 fewer jobs than it did over the same period the year before (March 2012-2013), and only created 100 more jobs than were created from March 2011-2012—hardly signs of an increasing job creation trajectory.