NC Unemployment

Assistant Secretary for the Division of Employment Security celebrated the state's unemployment trust fund surplus, on Thursday. Governor McCrory stood over his left should, while Secretary of Commerce John Skvarla looked on as well.
Jeff Tiberii

State officials are celebrating a $1 billion surplus in the North Carolina unemployment trust fund. The Wednesday announcement represents a significant swing from just two and a half years ago when the state owed the federal government $2.8 billion. This past May, the state paid down its debt a year before the due date. The savings have continued.

"Today I am very proud to announce the following - that we have built up our unemployment reserve fund to more than $1 billion," said Governor Pat McCrory before a crowd at the Employment Security Commission.

Image of sticky notes with one titled find job / Flickr Creative Commons

New economic numbers out this month show workers in the Triangle are finding fewer jobs, and those who do have employment are making less money. 

The latest unemployment figures are the highest the Triangle has seen since August of last year. 

Host Frank Stasio talks with Triangle Business Journal reporter Jason deBruyn about the latest figures. 

A U.S. Dept. of Commerce report says high-wage jobs are on the decline in North Carolina.
Andrew Magill / Flickr Creative Commons

New numbers from the U.S. Department of Commerce show personal income in North Carolina is lower than the national average.

The state ranks 38th in average annual income. And North Carolina’s unemployment numbers are improving but does that show the full picture? High-wage jobs are vanishing and North Carolinians are taking low-wage positions.

Unemployment lines

The North Carolina Senate has approved a proposal that would change a panel that hears appeals for unemployment insurance, but Governor Pat McCrory vetoed a similar bill last year.

The plan would shorten the amount of time board members serve on the panel and stagger the terms between each member. It would also require people getting unemployment benefits to contact five instead of three potential employers every week.

Unemployment Rate
NC Commerce

The North Carolina legislature is back in session this week.  The Republican-led body is touting a strong economy and an unemployment rate that hasn’t been this low since the start of the Great Recession.

So, bust out the Moscato! The unemployment rate in North Carolina is 5.8 percent.  Governor Pat McCrory says it hasn’t been that low since 2008.

resume and glasses
Flazingo Photos / Flickr/Creative Commons

The state Commerce Department is behind a major jump in the number of weekly job searches claimants must have to collect benefits.

Dale Folwell is Assistant Commerce Secretary for Employment Security and he supports increasing weekly documented job searches from two to five.

“So we think this will increase the velocity of people getting off the unemployment rolls and looking for work," said Folwell.

Folwell says the current system was confusing for some people.  He says his office decided to cut the confusion and add searches at the same time.

Economic Forecast

All economic indicators show continued growth across North Carolina in 2015.

Mike Walden is the William Neal Reynolds Distinguished Professor and Extension Economist at NC State.  He predicts payroll job growth across the state could top 125,000 jobs in 2015 – that's a lot more growth than in 2014. 

Walden says the economy has finally began to “hit a stride” with modest housing recovery and labor market improvements.

Unemployment lines

The U.S. Department of Labor has waived an anticipated federal unemployment tax increase on North Carolina businesses, as the state continues to pay millions it borrowed from the federal government to pay for state insurance benefits. 

The waiver reduces employers’ tax hike for the 2014 tax year up to $65 per employee, or about $180 million collectively for employers across the state, officials said.

Pelican's Snoball
Leoneda Inge

Economists and politicians say it’s becoming easier for most adults to get a job these days. But if you are a “young” adult, your story may be different.

Years into the economic recovery, there are still a lot of unemployed and underemployed people, which is slowing the recovery for young adults.

And in North Carolina, the jobless rate for that group is especially high. 

Thinglass /

North Carolina’s unemployment rate hasn’t moved much in the past several months as the state continues its slow trek towards job growth.

The North Carolina Department of Commerce reports a July jobless rate of 6.5 percent.  That’s one-tenth higher than the month before, but 1.6 percentage points lower than a year ago.