NC Unemployment Rate Hits Record 10.7%

This is just a brief post acknowledging the release of North Carolina’s February unemployment data.  Our jobless rate has now risen to 10.7%, the highest we’ve seen since record keeping began in the 1970s.  The previous high came during the recession of the early 1980s (February 1983 to be exact), when unemployment topped out at 10.2%.  Duke University economist John Coleman, in an interview with the News and Record, indicates the rapidity of job market deterioration in North Carolina has been unusually abrupt.

Private sector job losses here in Greensboro have of course been very bad.  For example, RF Micro devices has cut 600 positions over the last year, and folks over in Winston-Salem were stunned a couple of weeks ago when an unspecified number of cuts were confirmed at the much-vaunted Dell.  

Now we’re beginning to see mounting layoffs in the public sector.  UNCG, which is trying to cut its budget by as much as 7%, may eliminate as many as 100 positions, Guilford County has seen another round of job cuts, and the County schools just told their library media assistants that their positions had been eliminated effective July 1st.   

Here, you can link to a previous post on Greensboro Public Library’s resources for job hunters.

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