While it is true that the number of people employed last month is slightly above pre-recession levels, John Quinterno with South By North Strategies in Chapel Hill says that’s not the whole story, “Just because we have the same number of payroll jobs that we did almost seven years ago is not the same thing as recovery and in no way, shape or form should be taken as a sign that we won the battle against unemployment in North Carolina.”
Quinterno said a healthy economy needs to add jobs to support population growth. Analysts estimate more than 280-thousand workers are not counted in the unemployment data because they have given up on finding a job. If they were included, the unemployment rate would be 12.5%, versus the 6.3%.
Quinterno says North Carolina has more than 400,000 jobs to add to accommodate the 11% rate of population growth the state has experienced since 2007, “Replacing the number of jobs lost during the recession is not enough. You have to replace those jobs and you need to be creating jobs each month to accommodate the growth and the size of the workforce.”
According to South by North Strategies, the state has more than 28% more unemployed residents than it did seven years ago.