Missing Workers, NC Budget and Tax Center, Uncategorized

Missing Workers Update for August 2014

The official unemployment rate ticked up in August to 6.8 percent but if you count those missing workers who would be in the labor market if job opportunities were stronger that rate would be 12. 6 percent.

Our update to the number of missing workers in North Carolina reflects the ongoing challenge for workers when there are too few jobs for those who want to work. It also demonstrates the failure of the unemployment rate alone to tell the story of what is happening in the state’s labor market.

The number of missing workers at Missing Workers August 2014the state level is calculated based on expected labor force participation rates while accounting for demographic trends like an aging population. As an indicator, the number of missing workers and an unemployment rate that accounts for them provides information about how far the current labor market is from meeting all the needs of workers in the economy.

North Carolina’s recovery will continue to struggle to deliver benefits broadly as long as so many workers remain missing from the labor force because there are too few jobs.

 

Check Also

North Carolina’s cuts to higher education are shortchanging future generations

North Carolina’s inadequate public investment in higher education ...

Top Stories from NCPW

  • News
  • Commentary

Chief US District Judge Terrence Boyle, a New Jersey-born jurist known for his bristly disposition a [...]

More than two dozen people crowded into a conference room at the North Carolina Judicial Center Wedn [...]

If North Carolina goes forward with the recommendation to allow a private charter operator to take c [...]

Early voting starts today, which means North Carolinians will finally get to decide on six proposed [...]

There are a lot of strange – even downright bizarre – aspects to the ongoing effort by North Carolin [...]

The power of the vote extends beyond any single electoral outcome. It has the potential to lift up i [...]

The post Nix all Six appeared first on NC Policy Watch. [...]

When lawmakers convene next week for a second special session of the North Carolina General Assembly [...]