One Step Forward, Two Steps Back
Economists greeted a dip in the state’s May unemployment rate, which ticked down to 10.3 percent, with an overwhelming blah, pointing out that most of the decline was attributed to temporary government hiring for the U.S. census.
That and more than 42,300 folks didn’t so much find a job, as they simply exhausted their unemployment benefits and are no longer counted among the masses of jobless. Look for that trend to continue, according to the N.C. Employment Security Commission, which forecasts the state will find upwards of 120,000 more folks in the same boat over the next six weeks, if Congress doesn’t again extend unemployment benefits.
The Winston-Salem Journal breaks it down here.
At this rate, North Carolina might see another dip in its unemployment rate but still have just as many, if not more, people, well, unemployed. How’s that for taking one step forward, and two back.
Almost as convoluted as averaging a net gain of nearly 13,000, but actually losing jobs. That’s what happened last month, when the state “added” 16,100 government jobs, mostly census workers, but lost about 3,200 “real” jobs, including 2,900 in manufacturing and 2,700 in leisure and hospitality services.
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