All too often, we hear the comforting notion that when it comes to economic growth, a “rising tide lifts all boats”–that a growing economy benefits everyone through rising incomes. As the latest issue of Prosperity Watch makes clear, however, the reality of North Carolina’s economic growth has exploded this myth for far too many families in the state. Despite steady growth in Gross State Product–the total value of all the goods and services produced in North Carolina–median household income has actually declined since 2004, suggesting that the rising tide of growth is leaving too many families alone to sink. See the latest issue of Prosperity Watch for details.
In the latest issue of Prosperity Watch, Alexandra Sirota takes a look at food insecurity in North Carolina, and finds that far too many of our state’s residents don’t have enough food to eat. As a result, recent decisions by state government to temporarily halt critical food assistance programs due to the federal government shutdown placed thousands of families at risk of hunger–especially those living in rural North Carolina. See the latest Prosperity Watch for details.
While rumors swirl about a deal to re-open the federal government, the impact of the shutdown on North Carolina is becoming ever more apparent. In this week’s issue of Prosperity Watch, Tazra Mitchell looks at the consequences of the federal government shutdown on children, the most vulnerable residents of our state, and specifically at the suspension of child care subsidies that are hurting kids and forcing their parents to choose between caring for their kids and going to work. For more, see the latest issue of Prosperity Watch.
Despite a superficial improvement in North Carolina’s unemployment rate over the past three months, the state’s jobs picture remains extremely troubling, especially for the 70,000 Tarheel workers likely to lose federal extended unemployment benefits on June 30th. There are just not enough job openings available in order to meaningfully bring down unemployment rate, and as a result, thousands of the state’s workers are simply giving up on the job search and dropping out of the labor force altogether. See the latest issue of Prosperity Watch for details.
We keep hearing how North Carolina’s unemployment rate keeps lagging behind the national average. And although this trend is certainly real—the Tarheel State’s unemployment remains mired above 9 percent while the national average is below 8 percent—the latest issue of Prosperity Watch provides a surprising explanation for North Carolina’s weaker performance. See Prosperity Watch for details.