Last year, North Carolina was the first state to exit the federal government’s extended benefits program for the unemployed.
What happened next?
Employment has increased. According to Forbes, “…employment in North Carolina has increased 1.3 percent since extended benefits expired, nearly triple the rate of national employment growth.
Perhaps this is a telling sign to the rest of the nation about extending unemployment benefits.
The Wall Street Journal concurs- “North Carolina didn’t descend into the Dickensian nightmare critics predicted. For the last six months of 2013, it was the only state where jobless recipients weren’t eligible for extended benefits. Yet during that period North Carolina had one of the nation’s largest improvements in labor-market performance and overall economic growth.”
It seems that the governor’s and state legislature’s decision to reduce and reform taxes, streamline regulation and improve public education and infrastructure has paid off in expanded growth and opportunity for the state.