NC unemployment rate June 15, 2012, May rate 9.4, Dropping rates due to people leaving workforce, Labor force participation rate, Charlotte Observer
“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.
“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011
“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″
Just in 10:01 AM, the May NC unemployment rate remained at 9.4 %.
The NC unemployment rate for May will be released in a few minutes. The dropping rate in NC and the nation has been largely due to the Labor Force Participation rate falling to historical lows. That is, droves of people leaving the work force.
I was pleased to see the Charlotte Observer reporting the facts from the AP.
From the Charlotte Observer June 15, 2012.
“NC unemployment rate for May to be released”
“RALEIGH, N.C. North Carolina’s unemployment rate is being released.
The state Division of Employment Security is scheduled to release the rate for May on Friday. The rate dropped to 9.4 percent in April, down from 9.7 a month earlier. But the main reason for the drop was the number of people leaving the workforce.
Only 1,400 more people had jobs in April. More than 11,000 people left the labor force in April compared to May, the figures show. More than 21,000 people had joined the North Carolina labor force since April a year ago.
North Carolina’s unemployment was higher than the national rate, which fell slightly to 8.1 percent in April.”