NC unemployment rate drops while labor force plummets, Participation rate drops 4 % since Obama took office, 1.7 % since McCrory took office, NC losing jobs and workers
“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
“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.
Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
We have the Obama administration touting job creation.
Governor Pat McCrory of NC is pleased with the improvement in the jobs situation.
The truth has stayed mostly hidden or under reported.
To fix a problem it is important to:
A) Acknowledgement the problem.
B) Understand the problem.
It appears that neither A or B is the case.
The Labor Force Participation Rate in NC has dropped 4 percent since Obama took office in January 2009 and 1.7 percent since Pat McCrory took office in January 2013.
The real unemployent rate in the US and NC?
Well over 10 percent.
The following article at least attempts to present the truth.
From WRAL March 28, 2014.
“NC employers shed thousands of jobs in February; unemployment rate dips”
“North Carolina’s unemployment rate fell again in February, but employers in the state continued to shed jobs, according to data released Friday by the state Department of Commerce.
A survey calculating nonfarm payrolls recorded 11,300 fewer jobs in the month after a decline of more than 7,000 jobs in January.
Despite the drop in jobs, the state’s unemployment rate dipped to 6.4 percent, marking the eighth straight month of steady decline. North Carolina’s unemployment rate is down 2.2 percentage points from February 2013 and is now better than the national unemployment rate, which was 6.7 percent last month.
The state’s labor force in February was 4,659,236, down 7,349 since January. The labor force is down more than 60,000 since February 2013, evidence of many people, some of them the long-term unemployed, are dropping out of the job market and are no longer counted in the unemployment rate calculation.
“If North Carolina is going to see a healthy long-term recovery in employment growth, we need to see all jobless workers moving into jobs, rather than out of the labor force. And we’re not seeing that because job creation remains anemic,” said Allan Freyer, an analyst with the NC Justice Center.
The number of people unemployed – those who are looking for jobs – fell sharply, from 310,974 in January to 296,226 in February.
Employers continue to shed jobs
Employers in North Carolina shed more than 11,000 jobs in February, and only three nonfarm sectors saw growth during the month.
NC Department of Commerce.”
“Gov. Pat McCrory said Friday that he’s pleased to see more people getting back to work.”
By the way, the labor force in NC was 4,728,203 when McCrory took office. It was 4,659,236 in February 2014.