NC unemployment rate drops due to labor force exodus, Greensboro News Record accurate report, November 22, 2013, 8 percent unemployment rate, Labor force participation rate plummets 2 percent this year
“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013
“In the Triad, a number of studies have ranked the area among the nation’s worst in terms of poverty and food hardship.”
““You have the people that were barely making it with 40 hours. Now, they’re below 30 hours and have the same household bills,” Sturdivant said. “And at the end of the day, if they go out and get another part-time job, they still won’t have insurance.””...Greensboro News Record September 2, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
I heard a radio report yesterday misportray the drop in the NC unemployment rate to 8 percent as good news.
I was pleased to read that the Greensboro News Record provided an accurate report of the dismal jobs situation in NC.
From the News Record November 22, 2013.
“Unemployment rate drops, but fewer N.C. residents are working than a year ago”
“North Carolina’s unemployment rate fell to an even 8 percent in October, which makes for a positive headline.
But there’s a gloomier underside.
Total employment, according to “smoothed seasonally adjusted” numbers, was down from a year earlier, when the unemployment rate was 9.4 percent.
How could that be? Our labor force keeps shrinking. It’s smaller by 77,429, the N.C. Department of Commerce reports.”
“Addendum: “The state’s labor force participation rate — a key measure of labor utilization — fell steadily over that time to the lowest monthly figure recorded at any point since 1976,” John Quinterno says.”
The labor force participation rate has fallen 2 percent this year!
The unemployment rate has dropped 1.5 percent.
You do the math.