As state leaders deride the unemployed as lazy good-for-nothings and slash their insurance benefits, the news about finding a job job remains discouraging for a large swath of North Carolinians. Here’s the latest sobering news about the “Carolina Comeback” from economist Patrick McHugh:
“Unemployment is still a major problem in North Carolina. The headline unemployment rate has inched up from 5.3% to 5.9% since the beginning of the year, but that still doesn’t tell the whole story. When people who have been forced out of the job market since the Great Recession by a lack of job openings are included, the actual unemployment rate is still in double digits, almost twice what is commonly reported. This gap between the official unemployment rate and the reality on the ground can skew the policy conversation, making it look like the good times are back when that’s not really the case.
The US economy has improved since facing down the prospect of complete collapse a few years ago, which has buoyed employment prospects in North Carolina. However, any talk of a complete recovery is grossly overstated. There are likely more than 230,000 North Carolinians who would like to work, but don’t show up in the official figures. When those “missing workers” are included, the total tally of North Carolinians who can’t find a job rises past half a million. Read More