How the Republicans saved North Carolina’s economy

Or not.  NC Republicans like to claim that it’s there elimination of pesky environmental regulations, tax cut for the wealthy, cuts to education, etc., that are lowering the states unemployment.  Or, just maybe, we’re following the national cycle (from WSJ)

Hmmm.  Yes, we recovered faster than most states for a while, but that’s because there was more to gain.  But the worst part is we’re not actually creating jobs.  Just people who’ve given up looking for work:

North Carolina led the U.S. in job losses last month, a sign of stress for a state scaling back its support for its jobless residents.

The Tar Heel State shed a seasonally adjusted 11,300 jobs in February from the prior month as it continues to grapple with the decline of its traditional manufacturing, tobacco and textile industries, according to new Labor Department figures released Friday.

Employment increased in 33 states, while it decreased in 17 states and the District of Columbia. Nationwide, payrolls rose 175,000 in February.

North Carolina’s unemployment rate fell 0.3 percentage point to 6.4%, one the nation’s largest declines, though the fall was primarily the result of a shrinking labor force. The number of people either working or looking for work declined by 64,000 people from February 2013, according to data from the North Carolina Department of Commerce.

Spin all you want, but less North Carolinians working– regardless of the unemployment rate– is not a good thing for the state economy.

 

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Photo of the day

Really loved the gallery I linked to yesterday.  Here’s another:

The courtship of white storks on their nest near Biebesheim am Rhein, western Germany
The courtship of white storks on their nest near Biebesheim am Rhein, western GermanyPicture: AFP/GETTY
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