President Obama relentlessly argues the unemployed lack work through no fault of their own, and Republican reluctance to reinstate long-term jobless benefits is both heartless and harmful to the economy. Those assertions contradict the facts and sound economics.
Last July, North Carolina cut maximum unemployment benefits from 73 weeks to 20. During the next five months, the state's unemployment rate fell from 8.8 percent to 7.4 percent — more than four times better than the progress registered at the national level.
Eliminating the subsidy for not working inspired many Tar Heels to more earnestly seek jobs and accept positions they had previously shunned. Many others who lost benefits dropped out of the state labor force altogether, indicating they neither needed jobs nor unemployment benefits to get along, or they pulled up stakes and moved to places like South Dakota where good jobs go begging.
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It is a no brainer that their unemployment tally fell, since 70,000 people fell off the tally.
ReplyDelete"Since the reduction in unemployment insurance, North Carolina’s unemployment rate has dropped over 1 percent. However, 100,000 North Carolinians also left the workforce altogether, which meant they were not counted as unemployed, creating an artificial decrease in the unemployment rate.
This was also orchestrated by the NC government to come up with money to pay back the federal loans they had from the previous unemployment extensions they accepted. Take in more money thru taxes and pay out less to the unemployed so that they can pay the fed back.
This stratgey also disqualifed NC from any further help from the fed.
So as of January 20th, Sen. Kay Hagan, D-N.C, has been trying to get this law repealed and federal benefits reinstated.
But you see this article doesn't mention any of that.
Isn't that the same thing the county has been doing that Joe brought to light? Skew the numbers?
ReplyDeleteThe Dems screwed the state of NC just as they are here. Weaning off fed teats cause much weeping and gnashing of teeth.
ReplyDeleteCommon Core Math used in every venue possible. They sculpt out indexes and puff others up every month. You cannot tell me the month Food jumped 10%... that because Home prices improved that inflation was held in check.
ReplyDeleteI go by my own Market Basket not the one a President with 22 servants submits as why we are no longer in a recession. (Depression)One roll of Scott Tissue now costs $1.20 that was .89 when these Sociopaths took over this Country.