news-record.com

North Carolina's employment picture is a study in contrasts. While joblessness surges to record levels, the state still maintains its national reputation as a good place to look for work.

The grim 10.7 percent February unemployment figure is the highest since the state began keeping records in the 1970s and the nation's fourth-highest. Guilford's rate is 11 percent. Other Piedmont counties also are in double digits. Only Michigan, South Carolina and Oregon rank higher.

Yet, some national business publications continue touting our state as a top destination for job-seekers. Forbes magazine, for example, ranks us among the best for business and careers. Raleigh tops the list.

Kind words, but in a recession they may exacerbate the situation by encouraging people to relocate here at a time when demand already exceeds job availability.

A growing population requires fast-paced job creation. In better days, construction and manufacturing met those needs. However, they, along with the state's financial sector, have experienced extensive layoffs as the recession gains a stranglehold on the state's economy.

Equally troubling are job losses in highly recruited and supposedly recession-proof businesses like electronics, transportation and pharmaceuticals.

Dell, which received millions in state and local incentives, laid off a number of workers that was undisclosed but thought to be in the hundreds. Last week, IBM cut more than 300 jobs at its Research Triangle Park complex.

Diversification, with a strong emphasis on high-tech skills, health care and job-retraining, still appears to be the best route to a more stable economy.

Particularly disconcerting is the decline's rapid pace. In no other state has joblessness grown so fast, with the rate more than doubling in a year. Some economists say it could top out at 14 percent before declining.

Such pessimism, however, is countered by scattered rays of optimism. In February, 60 percent of people who filed claims for unemployment benefits indicated they could be called back to work. And those receiving state jobless checks will get an extra $25 per week in federal stimulus money. Not a lot, but it will help.

Other positive developments include a modest uptick in the housing market, retail sales showing glimmers of life and signs of a positive impact by the federal stimulus package. Recent stock-market gains could signal that the hoped-for rebound has begun.

Even so, new jobs lag behind on the recovery curve, which means smart workers prepare for possible job loss and consider training for in-demand careers. And there can be no letup in the state's search for new industry.