Friday, July 19, 2013

North Carolina employment stuck in neutral

The latest estimates from the U.S. Department of Labor (DOL) show that North Carolina's employment situation remains stuck in neutral.

The DOL's establishment figures indicate that the state added just under 6,000 payroll jobs in June on a seasonally-adjusted basis. While this reverses the last three months of job declines, it's hardly cause for celebration, as the total number of payroll jobs in June remained lower than the levels from February and March.

The DOL's household figures were worse. The estimated number of unemployed people was essentially unchanged, but the estimated size of the labor force shrank by 10,000.

The state's employment trends stand in sharp contrast to the national trends, which have been pretty solid for several months running.

Two years ago Republicans promised that tax cuts and government downsizing would accelerate the economy. Instead, they appear to have broken the clutch.