Americans, by and large, love to work. We might complain about our jobs from time to time, but we generally agree that working is better than the alternative. So if you're fortunate enough to be employed, give thanks on this Labor Day holiday.
The economy is just beginning to turn around, but slowly. The latest figures from the N.C. Employment Security Commission show that the jobless rate slipped to 11.6 percent in July from 11.7 percent in June. Eight of the 14 counties in the Triad and Northwest North Carolina experienced slight decreases. That's not marked improvement, but it's better than increases.
"The good news is that the bulk of the layoffs are behind us, and orders appear to be picking up in a number of industries, reflecting the huge drawdown we have seen in inventories," Mark Vitner, a senior economist for Wells Fargo Securities LLC, recently told the Journal's Richard Craver.
But full recovery is a long way off. "Overall economic conditions remain quite weak, and unless the demand for goods and services increases, North Carolina communities will struggle with high levels of joblessness well into the future," said John Quinterno, a principal at South by North Strategies Ltd., a research company that concentrates on economic and social policy.
There's concern that the large number of jobless people will exhaust their unemployment insurance and seek supplemental aid from the federal government. Jobless benefits are set to expire by mid-February for about 18,600 residents of the Triad and Northwest North Carolina and nearly 102,000 statewide.
There's a push for Congress to authorize an extension of emergency benefits. It should do so. And North Carolinians should help the unemployed with charitable efforts through churches, nonprofits and businesses. Just as important are community-college programs that train laid-off workers for new jobs. The state's transformation to a higher-tech economy demands having a qualified work force, and community colleges are important in building that force.
We take a lot of justifiable pride in our hard work and quality products. Today is a good time to take a break from our labors and refresh ourselves for the work ahead.
And as we do so, let's not forget the many people among us who have lost jobs. Many, if not most of them, would rather be working today, taking pride in labor that feeds their families and fuels our nation's economy.
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