Policy Points

04.12.2009 Policy Points Comments Off on Weekend Wonk Out

Weekend Wonk Out

A round-up of policy reports from the week ending on 12/4:

04.12.2009 Policy Points Comments Off on National Employment Situation

National Employment Situation

New national employment data show that November was the 22nd-straight month in which the economy shed more jobs than it added. Last month, 11,000 positions were lost, and 10 percent of the labor force was unemployed.

In November, the nation’s employers eliminated 11,000 more payroll positions than they added. Also, revisions to the September and October data revealed that the economy lost fewer positions than first reported.

Last month, 15.4 million Americans – 10 percent of the labor force – were jobless and actively seeking work. Proportionally more adult male workers were unemployed than female ones (10.5 percent versus 7.9 percent). Similarly, unemployment rates were higher among Black (15.6 percent) and Hispanic workers (12.7 percent) than among White ones (9.3 percent). Additionally, employment participation levels were the lowest ones recorded since the mid-1980s.

Click here to read South by North Strategies’ analysis of the November employment report.

04.12.2009 Policy Points Comments Off on North Carolina’s Creative Economy

North Carolina’s Creative Economy

A recent analysis commissioned by the N.C. Department of Cultural Resources found that the state’s creative industries ( arts, information/ entertainment/new media, and design)  contribute some $19.5 billion to state’s economy — an amount  equal to five percent of North Carolina’s gross domestic product.

Additionally, the study, which was prepared by the policy research division of the N.C. Department of Commerce, discovered that some 100 creative industries accounted for some 293,000 jobs and was responsible for over $10 billion in compensation (4.9 percent of the state’s total).

03.12.2009 Policy Points Comments Off on Around the Dial – Dec. 3

Around the Dial – Dec. 3

Economic policy reports, blog postings, and media stories of interest:

03.12.2009 Policy Points Comments Off on Unemployment in NC: Week of 11/14

Unemployment in NC: Week of 11/14

For the benefit week ending on November 14th, 22,741 North Carolinians filed initial claims for unemployment insurance, and 187,322 individuals applied for continuing insurance benefits. Compared to the prior week, there were many more initial and continuing claims. These figures come from data released today by the U.S. Department of Labor.

Averaging new and continuing claims over a four-week period — a process that helps adjust for seasonal fluctuations and better illustrates trends — shows that an average of 18,973 initial claims were filed over the last four weeks, along with an average of 181,445 continuing claims. Compared to the previous four-week period, both initial and continuing claims were much higher.
graph

One year ago, the four-week average for initial claims stood at 20,448 and the four-week average of continuing claims equaled 127,062.

The graph shows the changes in unemployment insurance claims (as a share of covered employment) in North Carolina since the recession’s start in December 2007.

Although new and continuing claims appear to have peaked for this cycle, the claims levels remain elevated and point to a labor market that remains extremely weak.