Pat McCrory has had such a bad week that we almost missed the worst news–the June jobs report. North Carolina’s unemployment rate rose for fourth straight month to 5.8%. The state lost 4,000 jobs from May to June. In contrast, the U. S. economy gained 223,000 jobs and the unemployment rate dropped to 5.3%.
It’s time for McCrory and company to admit it–the Carolina Comeback is a bust. It’s been two years since McCrory coined the term and promised North Carolina’s economy would come roaring back. Instead, we lag behind the nation as a whole and the South in general. Even if these numbers are revised, the recovery that McCrory and the GOP promised has failed to materialize.
It’s clear that just cutting taxes and regulations is not much of an economic development strategy. Not only is our unemployment rate heading in the wrong direction, our median income has fallen faster and further than other states in the region since Republicans took over. Last year, our economy grew at a far slower rate than either the nation or the region. Economically, the GOP has failed us.
Contrary to the free marketeers claims, employers and entrepreneurs don’t just look at taxes and regulations to determine where to locate. The look at other factors like quality of life, infrastructure and workforce preparedness. Right now, we’re making up the bottom of a lot lists. We’re now 47th in the nation in median income. We’re about the same in teacher pay. We’re near the bottom in per pupil spending. We’re cutting funding to higher education. That’s not appealing to many people looking for a place to do business.
For years, Republicans maintained that Obamacare would stifle growth because companies want stability and predictability. If that’s true, then the GOP here has scared off a bunch of suiters. Random redistricting, slashing education funding, restructuring the public education system, micromanaging local governments, insulting gays and lesbians, and protecting racist symbols indicates turmoil, not stability.
Pat McCrory came into office promising to rebrand North Carolina. He’s succeeded. While other Southern states are coming to terms with their racist histories, we’re digging in and letting people know that we’re in the “Hell, no. I ain’t fergittin’” camp. In the eyes of the nation, North Carolina is now a backward state with an economic development program more suited to the 1950s than the 21st century.
Thomas Mills is the founder and publisher of PoliticsNC.com. Before beginning PoliticsNC, Thomas spent twenty years as a political and public affairs consultant. Learn more >
Yes, Thomas – there are more variables involved in drawing companies to a state besides just taxes. Here is a great article about factors involved with business site selection. Perhaps Pat and NC gop should read this:
http://www.greatamericanjobsscam.com/chapter-2.pdf
Look out Mississippi! We’re comin’ for ya!
Absolute, 100% gospel, Thomas! Preach it!
There is no longer any touting of a “Carolina Comeback” by the NCGOP that isn’t just pure, partisan garbage.
NC’s trailing other states in the revival from recession is only met with “give our tax reform time to work” responses, and then additional budget proposals to further cut taxes for the wealthy and corporations. No government-based programs to boost the state economy—no innovative jobs programs, no effort to raise the minimum wage, no expansion of Medicaid (which would be quite a stimulant to the state’s economy, especially in its poorer rural regions).
The sad part is that the NCGOP seems just fine with the state’s lagging and slumbering economic rebound since 2010. It appears that as long as Berger and his supermajority gets what they want on social, educational, voting, gun and health issues (e.g., the magistrates opt-out law; CSA memorials; private school vouchers and reduced per-pupil funding and more eliminations of TAs; expanded concealed carry freedoms; voter suppression and local gerrymandering; no ACA health insurance exchange; no Medicaid expansion; and, yes, a possum drop), the state’s economy can play second fiddle.
It’s odd that the NCGOP keeps on with its mantra that jobs and creating them is its top priority because it’s clear that it’s simply is not the case………
Carolina comeback indeed. Republican stronghold Wall Street whose researchers have recently released a top ten cities in America who have or are the top ten growth cities and a list of the cities in the US who have gone in the other direction. North Carolina has made the list…the worst list. Ranked number 9 on that list is Rocky Mount with a net loss of median income of -2% and an unemployment rate of 8.6%. Ranked number one on that list, another NC city. New Bern with a -3.1% loss of median income and a 6.7% unemployment. Some comeback. I don’t know but would be willing to bet that both areas are very red voters who like a lot of Carolinians continue to vote against there economic interest for some hard right ideology.
There goes a campaign slogan!