North Carolina’s jobless rate ticked up to 9.7 percent in May from 9.6 percent in April as 41,000 more workers went looking for jobs. But because only 33,600 jobs were added in May the number of unemployed workers increased slightly.
More importantly, May failed to break the pattern of both 2009 and 2010 as the total number of jobs in the state did not break the 4.10m. jobs barrier. In fact, May has stayed right at a 4.08m. job ceiling with the only variable being the number of workers competing for those jobs. Last year, the labor force was about 44,000 workers bigger — which explains why the official May 2010 unemployment rate was 10.7 percent.
Guess what? It is still at least 10.7 percent. Until the total jobs number climbs above 4.10m. and stays there figure that the real statewide jobless rate is somewhere between 10 and 11 percent.
And if that is true statewide, then Mecklenburg’s jobless rate must be at least as high.
