by Paige Terryberry
Fiscal Policy Analyst, John Locke Foundation
North Carolina’s unemployment rate decreased in October while the September rate was revised up to 4.3% according to the new release from the North Carolina Department of Commerce. At 4.1%, the October rate is still well below the national average which has decreased to 4.6%.
The Labor Force also grew overall in October as more workers returned to the job market. Leisure & Hospitality Services experienced the highest increase in jobs again this month while Government, Mining and Logging, and Financial Activities saw a decrease.
North Carolina’s economy remains strong, though we are still not back to pre-pandemic levels of unemployment. North Carolina experienced 3.6% unemployment during the four months leading up to the pandemic.
When asked about the national economy, a recent Civitas Poll found that 64% of likely North Carolina voters said the state of the economy is bad and 65% claim the economy is getting worse. Inflation drives this concern; 77% said this is a bigger problem than unemployment.
This widespread lack of confidence in national leadership comes as Democrats in Congress continue to push their irresponsible social spending plan. The plan narrowly passed in the US House today.
At the state level, we continue to applaud our legislature for passing a pro-growth budget with tax cuts that will help families prosper.