Richard Craver of the Winston-Salem Journal reports on the drop of the unemployment rate in the Triad to an 11 1/2-year low of 4% in September.
Most economists agree that North Carolina’s economy typically rides on the coattails of the national economy, which had a 4.2 percent jobless rate for September.
“In a dynamic economy, we always will see some level of churn,” said Mitch Kokai, policy analyst for Libertarian think tank John Locke Foundation. “People will be gaining jobs and losing jobs every day.
“But that doesn’t mean that we should be too surprised to see county-level — or even state-level — numbers that occasionally dip below what an economist might consider the lowest expected unemployment rate.”
“This is a much better problem for North Carolina to have than dealing with double-digit unemployment,” Kokai said.
Read on here.