FACTSHEET: Jobs And The Economy | Eastern NC Now

When Governor McCrory Was Elected: North Carolina had an unemployment rate of 8.8%, the 5th highest in the nation...

ENCNow
Press Release:

When Governor McCrory Was Elected:

  • North Carolina had an unemployment rate of 8.8%, the 5th highest in the nation.
  • 77 of our 100 counties had unemployment rates over 10%,
  • There was $2.54 billion in unemployment insurance debt to be paid to the federal government.

Today, Under Governor McCrory's Leadership:

  • Our unemployment rate is at 5.5%, the lowest it's been in more than half a decade and ahead of South Carolina and Tennessee.
    • North Carolina added more than 15,000 jobs last month, experiencing the second largest drop in unemployment over the month in the country.
    • Nearly 200,000 more North Carolinians are earning a paycheck than in January of 2013.
  • Only 2 of our 100 counties have an unemployment rate over 10%.
  • Unemployment insurance debt is below $500 million for the first time since the recession and we are scheduled to pay it off 3 years ahead of schedule. This saved North Carolina employers $180 million in 2014. The unemployment debt had been as high as $2.6 billion.

Tax Reform:

  • When Governor McCrory was elected, North Carolina had the highest tax rates in the southeast.
  • Now, we have a plan that lowers income tax rates and reduces taxes for North Carolina working families.
  • The Personal Income Tax and Corporate Income Tax both were lowered making North Carolina more competitive.

Continuing the Progress:

  • We will pass "NC Competes" job recruitment proposals that:
    • Help create long-term, sustainable jobs and attract investment
    • Encourage mid and large scale manufacturing
    • Leverage our university research advantage to attract new venture capital
    • Recognize the importance of all regions in our state with emphasis on areas of high unemployment
  • We will pass the Historic Preservation Tax Credit to help revitalize our main streets and town centers.

  • Contact: Crystal Feldman
  •     govpress@nc.gov

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