Finally … Somebody Gets It
NATIONAL PRESS ZEROES IN ON NIKKI HALEY’S ECONOMY …
For months, this website has relentlessly documented how South Carolina’s “economic miracle” – the one touted ad nauseam by our state’s “Jobs Governor” Nikki Haley – is pure fiction.
Unlike the mainstream press we’ve been tracking the Palmetto State’s labor participation rate – which has plummeted to an all-time low of 57.9 percent (more than five points below the God-awful national rate) – explaining how South Carolina’s shrinking unemployment rate is “almost exclusively the result of a stagnant workforce that isn’t expanding along with the state’s growing population.”
We finally got some company this week when The New York Times – which typically occupies the opposite end of the ideological spectrum as we do – showcased South Carolina in a story exposing the lack of yeast in our “recovery.”
“South Carolina’s unemployment rate dropped to 5.3 percent in April, lower than in December 2007, when it stood at 5.5 percent on the eve of the Great Recession,” the Times reported. “The share of South Carolina adults with jobs, however, has barely rebounded.”
The Times is measuring “employment-to-population” – not labor participation – but the gist is pretty much the same. Only five states fare worse than South Carolina in this particular measurement of economic vitality, while only three states have lower labor participation rates.
Oh, and let’s not get into how much money citizens make – or don’t make – in the Palmetto State. We’re scraping the bottom of the barrel in that category, too.