Economic policy reports, blog postings, and media stories of interest:
For the benefit week ending on December 11th, 15,511 North Carolinians filed initial claims for state unemployment insurance benefits, and 127,503 individuals applied for state-funded continuing benefits. Compared to the prior week, there were more initial and continuing claims. These figures come from data released 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 16,665 initial claims were filed over the previous four weeks, along with an average of 125,839 continuing claims. Compared to the previous four-week period, there were more initial and continuing claims.
One year ago, the four-week average for initial claims stood at 20,113 and the four-week average of continuing claims equaled 192,006.
While the number of claims has dropped over the past year, so has covered employment. Last week, covered employment totaled 3.7 million, down from 4 million a year ago.
The graph (right) shows the changes in unemployment insurance claims (as a share of covered employment) in North Carolina since the recession’s start in December 2007.
Both new and continuing claims appear to have peaked for this business cycle, and the four-week averages of new and continuing claims have fallen considerably. Yet continuing claims remain at an elevated level, which suggests that unemployed individuals are finding it difficult to find new positions. Also, new claims have been on the rise since September.
Two recent reports on The PBS NewsHour considered how various states are implementing the Patient Protection and Affordable Care Act.
The first segment considers the limited approach to implementation being used in Wisconsin.
The second segment considers the more aggressive approach being used in California.
Policy Points is taking a few days off to celebrate the New Year’s holiday. Posting will resume on January 4, 2011.
Thank you for your interest in the blog. Happy New Year!
North Carolina’s labor market ended 2010 little changed from the start of the year. Between December 2009 and November 2010, the most recent month for which data are available, payroll employment in North Carolina rose by just 1,400 positions (+0.04 percent). While the number of unemployed Tar Heels and the the statewide unemployment rate fell during the year, much of the decline was due to a troubling contraction in the size of the state’s labor force. And, little evidence suggests that a robust jobs recovery will take hold in early 2011.
One Year, Two Job Markets
North Carolina’s labor market underwent two distinct phases in 2010 (figure, below). The first half of the year was a time of weak but positive growth. Between January and June, net job growth averaged 6,500 positions per month. 
Total employment increased at a rate of 0.2 percent per month, while the number of unemployed individuals fell at a monthly rate of 1.5 percent. The labor force also grew at a monthly rate of 0.03 percent. The statewide unemployment rate, meanwhile, fell to 10 percent from 11.1 percent.
Much of that progress was the by-product of public policy supports provided by the federal government through the American Recovery and Reinvestment Act and related initiatives like the homebuyer tax credit and temporary hiring for the 2010 Census. As those supports faded away during the second half of 2010, North Carolina’s labor market sputtered.
Between July and November, net job loss in the state averaged 7,500 positions per month. Total employment fell at a rate of 0.2 percent per month, while the number of unemployed individuals fell at a monthly pace of 0.4 percent. Yet the labor force also contracted at a a monthly rate of 0.2 percent. The statewide unemployment rate, meanwhile, stagnated at a level fluctuating between 9.6 and 9.8 percent.
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