N.C. jobless rate holds steady at 10.8%

N.C. jobless rate holds steady at 10.8%
By Jonathan B. Cox
(Raleigh) News & Observer
Posted: Friday, May. 22, 2009
More Information
S.C. jobless rate hits 11.5 percent for April

State unemployment was unchanged in April at 10.8 percent, another sign that the worst of the economic storm might have passed.

The number of people employed in the state increased by 26,857 during the month, according to statistics released this morning by the N.C. Employment Security Commission. The labor force also grew, suggesting that workers are optimistic about the prospects of finding work. Contraction indicates workers are giving up.

Even so, joblessness is still at a level not seen in decades and unemployment likely will rise more -- albeit at a slower pace than seen earlier this year -- before reversing. Economists predict it will be at least 2010 before the state sees any significant improvement in the labor market.

http://www.charlotteobserver.com/breaking/story/739643.html

These statistics do no reflect the independent contractor (those like real estate agents), the people that have run out of unemployment benefits and can no longer apply, and the people who have just given up looking for employment. IMO, these numbers do not reflect the true problems we have, because there are too many in the "fringe" of employment that are not counted.