MarketWatch.com and NC Governor Pat McCrory fail to present true employment in North Carolina, January unemployment rate 9.5 percent, Fewer employed in November, Labor force participation rate plummeted
“You can’t fix a problem unless you acknowledge and understand it.”…Citizen Wells
“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
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
The unemployment rate in North Carolina in January was 9.5 percent.
There were more people employed in NC in January than November.
From MarketWatch.com January 8, 2014.
“What happens when jobless benefits are cut? North Carolina may offer clues”
“Last summer, North Carolina slashed the amount of cash it gave to people after they lost their jobs and the state also reduced the number of weeks they could receive benefits. Within several months, the unemployment rate fell a few ticks and by November it fell to a five-year low.”
“As a result, some 70,000 North Carolinians lost out on extra federal benefits at the end of last June.
So what happened? North Carolina’s jobless rate rose a notch to 8.9% in July and then began a steady descent: 8.7% in August, 8.3% in September, 8.0% in October and a preliminary 7.4% in November, according to U.S. Labor Department figures.
That’s the lowest rate since late 2008, though monthly numbers are prone to sharp revisions.
Government data also shows that more than 22,000 North Carolinians found work since the cutoff and the number of unemployed sank by nearly 73,000 to 344,000.
What the data doesn’t tell us, however, is what happened to all the people no longer classified as unemployed. While some found a job, others may have retired, ended up on welfare, moved in with family members, sought disability payments or fled to a nearby state with better benefits. We just don’t know.”
From the Greensboro News Record January 7, 2014.
““We had the highest tax rates in the Southeast,” McCrory said. “… We think this tax reform, which lowered your corporate tax rates and lowered your income tax rate, will help existing businesses grow and help in the recruitment of new businesses and we’re already seeing a very positive impact.””
“McCrory cited the 2 percentage point drop in the state’s unemployment rate since he took office last January as evidence of the success of his administration’s agenda.”
From Citizen Wells December 22, 2013.
“I expect orwellian employment reporting from the Obama controlled US Government. I am less inclined to expect the same from the state of NC.
The unemployment rate fell from 9.5 percent in January to 7.4 percent in November. Yet there were fewer people employed in November than January.”
Why is the following not being reported?
In January of 2013 there were 4,322,922 people employed.
In November of 2013 there were 4,314,502 people employed.
The labor force participation rate plummeted from 63.4 percent to 61.3 percent in the same period.