Posts tagged “Mike Walden”
Analysis: There is worry today that the North Carolina economic miracle has waned. Income per person in the state, relative to income per person in the nation, began dropping in the late 1990s and is now in the upper 80 percent range. The state's unemployment rate -- perhaps the most watched economic indicator -- surged during the recession to be one of the highest in the country and has been above 9 percent for more than 40 consecutive months. But a look inside the numbers muddies the waters.
Two new reports present a challenging future for the job market. Still, we shouldn't throw up our hands and conclude nothing can be done. While tactics and perspectives may have to be changed, there are some credible ideas and paths for job creation that are worthy of consideration. But you decide if they should be followed.
Analysis: The skepticism about the reported inflation rate revolves around three questions. Does it include everything we typically buy or are some important products omitted? Does it match everyone's personal experience? And why does it often seem prices are rising faster than what the official inflation rate suggests?
Opinion: More than any other single individual in the second half of 20th century, William Friday has helped shape the transformation of our state from an agricultural and manufacturing economy driven by tobacco, textiles and furniture to a global competitor that fosters and is fueled by innovation in information technology, bioscience and world-class research, as well as the emerging fields of social entrepreneurship and public service.
Analysis: The conclusion from all this number crunching is that personal finances are in much better shape today than they have been in years. Wealth has returned, household debt payments as a percent of disposable income are back to 1990 levels, delinquencies and late payments are down, and homeowners' equity is beginning to rise. Certainly, many households are still not financially secure, but on average they are moving in a positive direction.
Analysis: Prior to the recession, North Carolina had an unemployment rate near 4.5 percent. At the worst point in the recession, the state's jobless rate soared to 11.4 percent, tied for seventh highest in the nation. The big question is, why? There's no easy answer.
Analysis: Taxes will be a top topic of discussion this year for several reasons. First, it's an election year, and no matter what the office and what the issues, taxes are at the head of the debate. Second, there's widespread concern about the national debt, and taxes are one way of dealing with our collective red ink. And last - let's face it - arguing about taxes, for many, is just plain fun!
Opinion: For "Generaztion Z" young people born between 1995-2010, the economy they inherit will be challenging, fast-paced, require energy and include opportunity.
Analysis: Despite a surge, jobs are fewer. How we manufacture things has dramatically changed. Today's factories use much more technology and modern equipment - and fewer workers - than in decades past. This is how our factories can churn out more output with fewer workers.
However, N.C. State economist Dr. Michael Walden, who compiles the report, says the outlook for 2002 is a "continuing, slow improving state economy."
Analysis: Clearly, the economy is the primary issue in the country. Yet there doesn't seem to be agreement on solutions to our economic problems. Part of the reason is that consensus on solutions doesn't exist among economists.
Opinion from Vivek Wadhwa: Is Quora a trend or a fad? Likely, the latter. What is more likely to happen and makes far more sense is that a new generation of private, gated communities will grow and evolve. This is where people with common interests will gather and exchange ideas.
Analysis: Americans' worries about jobs are deep, and those are based on two factors. One is a long-held worry that technology and modern equipment are replacing jobs. The second is newer: That trade with other countries is cutting jobs here. Are the worries justified? That's a complicated answer.
North Carolina's economy "will continue its current path of positive, yet modest, growth in coming months," forecasts NCSU economist Dr. Michael Walden.