Not that it’s at all surprising, but new analysis from experts confirms that Gov. McCrory and his allies are dead wrong once again with their latest crowing about the drop in North Carolina’s official unemployment rate. Put simply, thee Guv is confusing a labor market collapse for good news. This is from the wonks at the N.C. Budget and Tax Center:
“RALEIGH (January 28, 2013) — North Carolina’s unemployment picture is much worse than it appears on the surface, according to new numbers released by the N.C. Division of Employment Security today. Although the unemployment rate dropped to 6.9 percent in December, this is due almost entirely to a historic collapse in the state’s labor force, not to genuine gains in employment.
Over the last year, the labor force shrunk by 110,930 workers—more than 2.5 percent—to the lowest levels in three years. Read More