Research

Wrong For North Carolina Briefing Book

OBAMANOMICS HAS FAILED NORTH CAROLINA

Jobs: Since Obama Took Office, North Carolina Has Lost 56,800 Jobs And The Unemployment Rate Has Increased From 9.0 Percent To 9.7 Percent. (Bureau of Labor Statistics, Accessed 10/1/12)

  • “North Carolina’s Middle Class Is Starting To Show The Wear And Tear.” “But after more than three years with an unemployment rate higher than the national rate, North Carolina’s middle class is starting to show the wear and tear.” (Craig Jarvis, “North Carolina’s Middle Class Shows The Strain Of Years Of Job Losses,” The Charlotte Observer, 9/2/12)
  • According To The UNC-Chapel Hill Global Research Institute, North Carolina’s Economic Recovery “Is Still Shrouded In Shadows.” “After some very tough sledding, the American economy has been improving over recent months. The unemployment rate has fallen, the manufacturing sector has been picking up, the stock market has headed north and the savings rate is rising, along with consumer confidence… The picture in North Carolina, alas, is still shrouded in shadows. Not surprising, given the fact that the so-called Great Recession of 2007-2008 hit our already economically beleaguered state particularly hard. Borrowing from Robert Frost, we might say that for North Carolina, this recession proved extremely unlovely, dark, and deep.” (Peter A. Coclanis & Daniel P. Gitterman, Op-Ed: “Hardship Lingers In North Carolina,” The Charlotte News Observer, 3/12/12)

North Carolina’s Unemployment Rate “Is More Than Twice Pre-Recession Levels Of 4.7 Percent In December 2007.” “North Carolina ranks sixth in the nation for most jobs lost since the start of the Great Recession in late 2007, the report said. The state’s unemployment rate – 9.6 percent in August – is more than twice pre-recession levels of 4.7 percent in December 2007.” (Richard Craver, “Study Cites Dismal Job Stats In Last Decade In N.C.,” Winston-Salem Journal, 9/3/12)

  • “The State’s Labor Market Will Take At Least Twice As Long To Return To Pre-Recession Employment Levels.” “‘At its current pace, the state’s labor market will take at least twice as long to return to pre-recession employment levels as it did in following previous recessions,’ according to the report. ‘That will leave larger numbers of workers unemployed for longer periods of time than in the past. For example, about 46 percent of North Carolinians who were unemployed in 2011 were in that scenario for at least 26 weeks.’” (Richard Craver, “Study Cites Dismal Job Stats In Last Decade In N.C.,” Winston-Salem Journal, 9/3/12)

The Charlotte Metro Unemployment Rate Is 10 Percent. “And if Democrats were hoping that North Carolina would provide a narrative to support the president’s case that the economy is on the rebound, they must be disappointed. The state has an unemployment rate of 9.6 percent — one of the highest in the country. The Charlotte metro rate is even higher at 10 percent, making it more difficult to portray the city of 750,000 as on the cusp of recovery after its once-soaring banking industry tumbled.” (Gary D. Robertson, “For Some In Party, Charlotte Looking Like Curious Choice,” The Associated Press, 9/1/12)

  • “48,000 People Were Looking For Work In Mecklenburg County In July, The Highest Level Since January.” “More than 48,000 people were looking for work in Mecklenburg County in July, the highest level since January. The local unemployment rate remains higher than the state and national average. Bankruptcy filings have ticked upward. And even a turnaround in Mecklenburg’s housing market hasn’t been enough to bolster consumer confidence amid continued uncertainty in the U.S. and abroad.” (Kristen Valle Pittman, “Despite DNC Boost, Economic Recovery Dragging In Host City Charlotte,” The Charlotte Observer, 9/1/12)

Unemployed: North Carolina Has 451,642 Unemployed Seeking Work. (Bureau of Labor Statistics, Accessed 10/1/12)

  • According To The UNC-Chapel Hill Global Research Institute, Underemployment Averaged 17.9 Percent In 2011. “Other measures of the labor market in North Carolina tell a similar story. For example, the labor underutilization rate -the unemployed, people working part-time but preferring full-time work, as well as individuals marginally attached to the labor force (discouraged workers and ‘conditionally interested’ workers) – averaged 17.9 percent during 2011.” (Peter A. Coclanis & Daniel P. Gitterman, Op-Ed: “Hardship Lingers In North Carolina,” The Charlotte News Observer, 3/12/12)
  • The Percent Of North Carolina’s Working-Age Population Is “Near 35-Year Lows.” “In December [2011] only 55.6 percent of working-age North Carolinians were employed, and the civilian working-age population in the workforce was only slightly higher, at 61.7 percent – near 35-year lows.” (Peter A. Coclanis and Daniel P. Gitterman, Op-Ed, “Hardship Lingers In North Carolina,” The Charlotte News Observer, 3/12/12)
  • According To The N.C. Justice Center, There Were 356,000 More Working-Age Adults Employed In North Carolina In 2001 Than In 2010. “The nonprofit group determined there were 356,000 more working-age adults employed in the state in 2001 than in 2010, with manufacturing taking the brunt of the job decline.” (Richard Craver, “Study Cites Dismal Job Stats In Last Decade In N.C.,” Winston-Salem Journal, 9/3/12)

Median Household Income: Under Obama, Median Household Income In North Carolina Has Declined From $48,632 To $43,916. (U.S. Census Bureau, Accessed 10/1/12)

  • In The Last Decade, North Carolina’s Median Household Income Fell By 10 Percent, And Unemployment Has Lasted 6 Months Or More For Nearly Half Of Those Out Of Work. “Median household income in the state fell over the decade by nearly 10 percent, to $43,326, according to the Budget and Tax Center, a nonprofit advocacy group in Raleigh. The center, in a report coming out this weekend, also found that North Carolina lost high-wage jobs and gained low-wage jobs. The report found that unemployment has lasted six months or more for nearly half of those who are out of work.” (Craig Jarvis, “North Carolina’s Middle Class Shows The Strain Of Years Of Job Losses,” The Charlotte Observer, 9/2/12)
  • North Carolina’s Job Growth Has Been In Low-Wage Industries; 83 Percent Of The State’s Job Growth Came With Average Wages Less Than The $23.47-An-Hour Living Income Standard For A Family of Four. “Where North Carolina did have job growth, it mostly came in low-wage industry sectors, the group said. About 83 percent of the job growth came with average wages of less than the $23.47-an-hour living income standard for a family of four. For example, 15 percent of the state’s job growth from 2001 to 2010 came in the food-services and accommodation sectors, which paid $7.15 an hour.” (Richard Craver, “Study Cites Dismal Job Stats In Last Decade In N.C.,” Winston-Salem Journal, 9/3/12)

National Debt: Since Obama Took Office, Each North Carolinian’s Share Of The National Debt Has Increased By $17,452 To A Total Of $51,872. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 10/1/12)

Tax Hikes: Obama’s Plan To Raise Taxes Would Cost North Carolina 21,200 Jobs. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP, 7/12)

  • Obama’s Plan To Raise Taxes Would Cost North Carolina $5.9 Billion In Lost Economic Output. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP, 7/12)

Food Stamps: Since Obama Took Office, The Number Of People In North Carolina Receiving Food Stamps Has Increased By 52 Percent. (“Supplemental Nutritional Assistance Program: Number Of Persons Participating ,” Food Research And Action Center, Accessed 8/10/12; “Supplemental Nutritional Assistance Program: Number Of Persons Participating,” USDA Food And Nutrition Service, Accessed 8/30/12)

Poverty: Under Obama, 379,034 More People In North Carolina Have Fallen Into Poverty. (“Poverty: 2007 And 2008,” U.S. Census Bureau, 10/11; “Poverty: 2010 And 2011,” U.S. Census Bureau, 9/12)

  • According To The UNC-Chapel Hill Global Research Institute, Poverty Rates In North Carolina Are “Grim.” “[T]here are large numbers of North Carolinians who do in fact fall beneath the federal poverty line. In 2010, 17.4 percent of the state’s population was beneath that line – the third highest yearly figure since 1980 – and other statistics are equally grim. In the same year, 25 percent of all children in North Carolina, roughly 560,000, lived in poverty, and over 35 percent of the state’s population lived precariously on the economic edge, with incomes less than 200 percent of the federal poverty line.” (Peter A. Coclanis and Daniel P. Gitterman, Op-Ed, “Hardship Lingers In North Carolina,” The Charlotte News Observer, 3/12/12)