So you guys remember how the sweeping tax cuts the Legislature passed in 2013 were going to make the state’s economic woes abate? And how these tax cuts worked so well, we need to do more? Yeah, about that.
From a press release this morning from the N.C. Department of Commerce’s Labor and Economic Analysis Division:
The state’s seasonally adjusted July unemployment rate was 5.9 percent, increasing 0.1 of a per-
centage point from June’s revised rate. The national rate remained unchanged at 5.3 percent.
North Carolina’s July 2015 unemployment rate was 0.2 of a percentage point lower than a year ago. The number of people employed decreased 11,743 over the month to 4,482,155, and increased 135,790 over the year. The number of people unemployed increased 3,328 over the month to 279,968, and declined 2,043 over the year.
In the graphic above, you’ll note that the state’s unemployment rate has ticked up rather sharply since January, from 5.3 percent to 5.9 percent, even as the national unemployment rate has continued to decline.
So, sure, let’s pass TABOR and watch the collapse continue.