How can a state with one of the nation’s worst unemployment rates rank No. 1 in ‘business climate’?

It’s a question that crops up near the end of the News & Observer‘s brief report on North Carolina’s latest No. 1 ranking from Site Selection magazine (not posted online, as far as I can tell).

North Carolina, the state with the fifth-highest unemployment rate in the country, has the top business climate in the nation, according to Site Selection magazine. …

… The ranking is yet another example of how North Carolina continues to pile up accolades about its economic competitiveness even while it struggles to create jobs to bring down its unemployment rate.

Fortunately for those scratching their heads about the apparent incongruity between Site Selection‘s ranking and actual economic facts, John Hood answered this question … nine years ago.

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