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C C Progressives

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CC Progressives

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Join Roderick Lewis and his guest: John Quinterno a principal at South by North Strategies, Ltd North Carolina employers slashed, on net, another 12,500 payroll positions in May. This brings total net job loss since the onset of the recession to 233,000. These findings come from preliminary data released this morning by the Employment Security Commission of North Carolina. "Job loss resumed its climb in May,” says John Quinterno, a principal at South by North Strategies, Ltd., a research firm specializing in economic and social policy. “May marks the eighth consecutive month in which North Carolina employers eliminated more jobs than they created.” "While the pace of job reduction was modest by recent standards, that doesn't change the fact that North Carolina’s economy simply isn’t generating enough jobs to accommodate all of the individuals who want to work,” notes Quinterno. “Little evidence suggests that a reversal of the situation is imminent.” For perspective, compare payroll employment figure from May 2009 to May 2008. Over the year, the state’s employers eliminated, on net, 213,000 positions. More jobs were destroyed than created in virtually every major industry with the greatest numerical declines occurring in manufacturing (-69,900, predominately in durable goods manufacturing); construction (-46,300); professional and business services (-45,900); and trade, transportation and warehousing (-40,100). Relative to payroll sizes, construction employment fell the most, down 19.3 percent. Losses were offset by hiring in the public sector (+16,000) and education and health services (+3,200). Job losses have contributed to the sharp rise in North Carolina’s unemployment rate. In May, 508,834 individuals were unemployed. Over the year, the number of unemployed North Carolinians has nearly doubled while the unemployment rate has climbed to 11.1 percent, a modern record. Over the past year, only four states – Oregon, South Carolina, Indiana, and Michig