Unemployment in North Carolina has declined from 9.5 percent to 6.9 percent. It appears a significant number of people previously chose taxpayer benefits over a paycheck, but are now actively job hunting. Imagine that! Many of the long-term unemployed have taken jobs for which they appear to be overqualified, based on experience or education, and some are piecing together multiple part-time jobs to fill the benefits gap. Due to the ongoing anemic recovery, Democrats have advocated for constant extension of unemployment benefits. At one point, beneficiaries could be on unemployment for up to 99 weeks but Republicans argue that extended benefits can and does discourage recipients from actually getting a job. The experience in North Carolinas job market suggests those critics have a point. In North Carolina, state lawmakers reduced unemployment benefits by more than 30 percent and implemented work requirements. Those changes meant North Carolina didnt qualify for extended federal unemployment benefits, so the state lost that federal funding in July, six months earlier than most states. The Wall Street Journals Damian Paletta recently reported on the results: The Tar Heel States unemployment rate since then has plunged, as people who were receiving benefits scrambled to find jobs or stopped looking for work. Employers report a flood of applicants. You cant argue with success.
Posted on: Thu, 06 Mar 2014 22:42:38 +0000
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