NC unemployment rate 8.9 percent ?, Greensboro News Record AP article quotes Duke University Economics Professor, Labor force participation rate dropped .3 percent, Good news?
“With a 63.7% labor force participation, “conditions in the labor market are considerably worse than indicated” in July’s report”…economist Joshua Shapiro, WSJ August 3, 2012
“Although the numbers are not directly comparable, local labor markets
across much of North Carolina began 2013 no differently than they
began 2012,” said Quinterno. “Simply put, unemployment rates remain
elevated across the state, and twice as many North Carolinians are
jobless and seeking work than was the case five years ago.”…SBN Strategies March 22, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
The Associated Press has always been a problem. A member “news” organization creates a report and it is regurgitated across the nation & world, in most cases without fact checking.
We have another example recently from the Greensboro News Record.
Is this because the Rhino Times just shut down?
Or because John Coleman, an economics professor at the Duke University Fuqua School of Business was quoted?
From the Greensboro News Record May 17, 2013.
“North Carolina unemployment rate drops 8.9 percent”
“North Carolina’s unemployment rate fell to 8.9 percent in April _ the lowest in the state in four years.
The state’s unemployment rate was 9.2 percent in March.
“This is very encouraging for North Carolina,” said John Coleman, economics professor at Duke University’s Fuqua School of Business.
The state Commerce Department said Friday the number of people unemployed fell by 15,259 between March and April. On the downside, nearly 4,200 fewer people held jobs than in March.
The industry with the largest monthly increase: Leisure and hospitality services, which added 6,100 jobs. It was followed by financial activities with 2,000; government with 1,300, and professional and business services with 1,300.
January 2009 was the last time the state’s unemployment rate was at 8.9 percent.”
“ Coleman said the report contained good news about North Carolina’s economy.”
“”What’s encouraging about the report is the large drop in the number of unemployed,” he said. That number seems to have more to do with new jobs than people who are deciding to give up rather than keep competing for work.
He also said the new figures bode well for North Carolina in the future.”
From the Employment Security Commission of NC.
Labor Force Participation Rate
March 2013 62.8 %
April 2013 62.5 %
The Labor Force Participation Rate fell .3 percent in April.
That fully accounts for the drop in the unemployment rate and is certainly not good for the NC public.
Perhaps it is good for lying politicians and newspapers.
Mr. Coleman, did you actually make those statements that were reported???