From an editorial Tuesday in the Fayetteville Observer:
Economic news often has dual edges. Sometimes the jobless rate goes down, but only because people stop looking for work.
The latest state jobs reports don’t contain such ambiguity: The state added more than 10,000 jobs in March, the second-biggest increase in employment in the nation, trailing only Florida. That helped bring the jobless rate down to 6.3 percent, the lowest it’s been in six years and below the national rate of 6.7 percent.
Unlike some previous months when workers threw in the towel, about 8,000 people joined the state labor force in March.
While that’s good news, don’t read too much into one month.
Gov. Pat McCrory’s office issued a statement Monday crediting Republican tax-reform policies for the improvement. But an N.C. Justice Center statement Monday balanced this, noting that over the course of a year North Carolina has added jobs at a slower rate than the national economy. Job growth in the state was also slower than during the previous year.
No one knows why job growth ticked up in March, but it did. We’d sure like to see that sustained.
Regardless, we'll take it as a hopeful sign and encourage those who have been sitting on the sidelines to get back into the game. It appears employers are hiring. Don’t miss out.
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