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srs-unemployment3While it is positive news that fewer North Carolinians were unemployed in 2014 than in 2013, the reality is that we are still far from pre-recession employment rates.

As the Budget and Tax Center pointed out a in a release today:

Despite the decline in metro area unemployment year over year, there were still more unemployed North Carolinians in nearly all metro areas in December 2014 than there were in December 2007.

The latest data from the BTC’s County Labor Market Watch and Recession Watch shows that:

Many counties were better off in December 2007 than December 2014. There are still 24 North Carolina counties with unemployment rates higher than what they had in December 2007. There are 60 counties that had more unemployed workers in December 2014 than they did in December 2007, and 72 counties had fewer people in the labor force this past December than in December 2007.

Based on the data, slightly over half of North Carolina counties have an unemployment rate that is higher than the statewide 5.5 percent unemployment rate. Graham County at 12.3 percent has the highest unemployment rate in the state. These numbers are evidence that while the employment situation is improving in some counties, others are clearly not getting the help they need to recover from the recession.

“Any approach to badly needed economic development must consider this uneven recovery,” said Alexandra Forter Sirota, director of the BTC. “Lawmakers must pursue tools that deliver targeted support to grow opportunity in communities that continue to struggle now seven years after the start of the Great Recession.”

NC Budget and Tax Center

Yesterday, the Labor and Economic Division released October labor market data for all 100 counties.  The headline of the release was that the unemployment rate had dropped in 98 counties, or nearly all, in the past month.  It sounds like good news, and it is, but the new data also show that many parts of the state are still struggling mightily. As the Budget and Tax Center has noted before, you have to look deeper than the headline unemployment number to know whether employment prospects are actually improving.

Such a look behind the unemployment rate does show signs of labor markets improving year-over-year, primarily along the lines seen at the state and national level.  The number of unemployed people has declined since October 2013 in all counties and a majority of counties have seen gains in employment.

But it is not “mission accomplished” time yet. The October county data contain worrying signs that should not be glossed over.

The majority of counties have not caught up to pre-recession levels of employment. Employment prospects are still slow to emerge in many counties, particularly in the rural parts of the state. Sixty six counties have more unemployed people in October 2014 than they did in December 2007.

Even more concerning, roughly one-third of the counties registered declines in employment from October 2013 through October of this year. Beyond not having caught up to pre-recession employment, many parts of our state have taken a step back over the last year. Again, this troubling trend is most concentrated in rural counties. Read More

NC Budget and Tax Center

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:

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NC Budget and Tax Center

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.

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