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FIRST ON 3: November state unemployment up .1% to 9.7%

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RALEIGH, NC (NEWS RELEASE) — North Carolina’s unemployment rate increased slightly to 9.7 percent in November, according to statistics released today by the state’s Employment Security Commission.

“Consistent job growth continues to be a goal for this state,” said ESC Chairman Lynn R. Holmes. “As we work toward that goal, the ESC will be here to assist our citizens. Our offices statewide are working hard to place people into jobs and to assist those who are eligible for unemployment benefits.”

Seasonally adjusted total nonfarm industry employment, as gathered through the monthly establishment survey decreased to 3,887,700 in November. The largest over the month employment increase occurred in Education & Health Services (+4,800). The largest decrease was in Trade, Transportation & Utilities (-5,200) and Leisure & Hospitality (-5,200). Since November 2009, nonfarm employment has decreased by 6,100 jobs.

The number of people employed (seasonally adjusted) decreased by 8,216 workers to 4,033,121. The number of people unemployed increased by 4,886 workers, to 433,240. Since this time last year, the number of people unemployed has decreased by 58,559 and the number of workers employed is up 4,632. The state unemployment rate in November 2009 was 10.9 percent.The next unemployment update is scheduled for Tuesday, January 4, when the county unemployment rates for the month of November will be released.

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State Budgets

And, SCTom (and others), if you did not see "60 Minutes" last night, you should:

http://www.cbsnews.com/stories/2010/12/19/60minutes/main7166220.shtml?ta...

The subject was "State Budgets: The Day of Reckoning." The next 12 months should be very interesting...and very frightening.

Unemployment Numbers

report from Washington confirm NC led the Country in the number of jobs lost for November.

What does that tell you about Raleigh's plan and its use of all that Federal Stimulus money which disapears at the end of the month; although we still have the pleasure of repaying $148,000,000 annually in interest payments to the Feds for money borrowed to keep Medicaid afloat.

And the Legislature has not even begun to face the increasing budget deficit which must be considered in the next fiscal year budget. I say increasing as last summer it was estimated at $3 Billion; recently it was up to $3.7 Billion; can it hit $4 Billion by February?

If anyone thinks every state Department, including Education, will not feel some pain, you must be on drugs.

As it stands now, the Legislature will need to come in with a budget of about $15 Billion, down from $19 Billion currently, to keep the state afloat.