Wage Growth Weakens in NC as Folks in the Middle Fall Behind
In a recent deep dive into the economic recovery we're seeing nationwide, economist Michael Walden has found that the so-called "Carolina Comeback" is leaving behind working families and other middle income folks. Instead it's those at the top who profit, while more and more low wage jobs are created.
North Carolina’s economy is accelerating, but the growth is focused on the higher and lower ends of the wage scale and not in the middle, according to a new report by an N.C. State University economist.
Michael Walden, in a report out this week, highlights some sharp challenges for the state as it heads into the second half of 2016.
Walden wrote that North Carolina’s growth is accelerating, and the state had the 10th fastest output gain among states in 2015. But, he cautioned, the gains are lower than historic standards and the growth is focused on the higher and lower ends of the spectrum.
McCrory argues that his policies have fueled a “Carolina Comeback” and the state’s economy is “strong and getting stronger,” according to his website.
Cooper says that even though unemployment is dropping, the state’s wages are not rising.