Saturday, May 28, 2011

"Latest figures show [Greensboro-High Point metro area] sluggish job growth"

"April unemployment rate fell to 9.9 percent — only the second dip below 10 percent since the beginning of 2009.

...since the recession began, the number of people without jobs in the area has increased by nearly 100 percent, growing from 17,839 in December 2007 to 35,447 last month.

...officials at the Employment Security Commission of North Carolina put a more positive spin on the latest numbers.

...the area labor force has contracted by 2.2 percent in the past year, suggesting that some of those have become discouraged and quit looking for work.

If the labor force fell 2.2% by not counting discouraged workers,
is the unemployment rate really much higher?

Since the recession began, North Carolina has lost 6.7 percent of its employment base, or nearly 279,000 positions, and has seen its unadjusted unemployment rate climb from 4.7 percent to 9.5 percent.

If the labor force fell 6.7%,
and the 279,000 still live in North Carolina,
is the unemployment rate really much higher?

In April, the state gained 2,900 more jobs than it lost.

Over the past year...employers have added 24,100 more jobs than they cut for an average monthly gain of just more than 2,000 jobs.

How many North Carolina based college recent graduates are now looking for work?

“We are just not gaining jobs at a rate fast enough to replace those lost during the recession or to keep pace with population growth...”

Donald W. Patterson

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