JOBS, JOBS, JOBS – WHERE ARE THE JOBS?

From the Business Journal: In a report to N.C. lawmakers, officials with the Employment Security Commission of North Carolina say the state will have to
“….add 4,200 jobs per month for the next 60 months for the labor market to return to the level of December 2007, when the slump began.”

“In Charlotte, Wells Fargo & Co. economist Mark Vitner says the city’s more diverse economic base has the potential to aid a faster recovery. He says the five-year statewide recovery estimates are accurate.”

My questions: what industry will create the jobs? When will jobs start to be added back into the labor market? This seems to be hard facts and not an “expert” predicting what or should happen in our economic recovery. I again reiterate. Until housing is trending upward and supported by unemployment trending significantly downward, our economy will bounce along the bottom. “Expect the best and plan for the Worst” Now is the time to rebrand and reinvent yourself to sustain yourself regardless of national problems.

North Carolina
Population(2008annualaverage) 7,019,000
Population (2009 annual average) 7,129,000
Civilian labor force (2008 annual average) 4,570,000
Civilian labor force (2009 annual average) 4,545,000
Employed (2008 annual average) 4,287,000
Employed (2009 annual average) 4,061,000
Unemployed (2008 annual average) 283,000
Unemployed (2009 annual average) 484,000
Unemployment rate (2008 annual average) 6.2%
Unemployment rate (2009 annual average) 10.6%

Closing the (unemployment) books on 2009 an article by G. Scott Thomas, Projects Editor for Buffalo Business First

http://bit.ly/dzYOJc

The U.S. Bureau of Labor Statistics issued their 2009 unemployment statistics report incorporating a full set of annual averages for each state. The article link has a sortable database with the annual figures for all 50 states and the District of Columbia. If you click View Details for a particular state, you’ll get additional numbers for 2009, as well as the corresponding figures for 2008. I have added the above information for North Carolina.