NC Unemployment, North Carolina Unemployment News- President Barack Obama said he, too, can see the “light at the end of the tunnel.” But in North Carolina, some people who keep close tabs on the local economy disagree. People are working, the Dow is rising and the president is happy. Optimists are quick to point out the national unemployment rate is down for the first time in 15 months. But North Carolina remains one of the least employed states in America, 11 percent — or one in nine — was jobless in June. That ranks eighth-worst in the U.S.

Archie Hicks, an Employment Security Commission branch manager, was at this weekend’s Triad Flight of Honor Motorcycle Fundraiser.

“A lot of the employers we’ve been talking to recently, they’re still not seeing the numbers they need to see in terms of orders,” Hicks said. “So we think, continuing on, we think we’ll see more people becoming unemployed.”

Realtors, like Mike Thornburg, said they know that when a person doesn’t have a job, it’s hard to get a loan, and when a job is lost, it’s hard to pay mortgage. That’s why the Triad remains flooded with “for sale” signs.

“We’ve got to deal with unemployment,” Thornburg said. “We’ve got to deal with the shadow inventory of foreclosed houses before we see any improvement in home prices.”

The good news, according to analysts, is that improvements are coming, but they won’t happen overnight.

“There are new opportunities out there, particularly with a number of these biotech and medically-related companies,” said financial analyst Jim Holmes. “So I think we have a bright future, but it does take some time to make that transition.”

During the last three months, North Carolina’s unemployment rate has gone down slightly, then up and then down slightly again. Experts said that could be a sign that the country has hit the bottom. What’s unclear, though, is how long it will stay there.

The new state unemployment numbers are scheduled to be released Friday, Aug. 21.

Source: WXII12


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